As the importance of environmental, social and governance (ESG) policies increases, Posco is actively incorporating ESG management into its business strategy. Posco ranked as the most-competitive steelmaker for 11 consecutive years in the...
Posco Chairman Choi Jeong-woo, left, checks a conveyor belt on Wednesday at the company’s steel mill in Pohang where a contractor recently died due to an accident.
The military coup in Myanmar is affecting Korean companies operating in the Southeast Asian country, but the impact is still limited.
“From now on, failing to meet production goals while taking necessary safety measures should not be punished, but rewarded,” said Posco CEO Choi Jeong-woo during a top executive meeting.
Korean steelmakers have launched talks with shipbuilders over prices of thick steel plates, which are mainly used for shipbuilding, people familiar with the matter said Saturday.
Posco’s net profit fell 9.8 percent in 2020 to 1.78 trillion won ($1.6 billion). Annual revenue slumped 10.2 percent to 57.8 trillion won, while operating profit tumbled 37.9 percent to 2.4 trillion won, the company said Thursday.
The third chairman in the steel company’s 52-year history, Chung is credited with leading the construction of Posco production facilities in Korea, which were also the first steel factories in the country.
Beyond the grandiose directions presented by Korea’s largest business groups, key affiliates and other companies mapped out their own strategies for this year with focuses ranging from mergers and acquisitions to environmental sustainability.
The idea of facilitating mutual growth and youth employment support has remained at the forefront for Posco. As a domestic and global trendsetter, Posco’s social contributions shone bright thanks to its youth employment and...
Posco will scale up hydrogen production capacity to five million tons in the next three decades to meet growing demand for the clean energy source and foster new growth drivers, the company said on Sunday.