Steelmaker Posco reported Monday its net profit for the third quarter at 2.63 trillion won ($2.2 billion), up more than 400 percent from a year earlier.
Posco, the world’s fifth-largest steelmaker by output, reported record high sales and earnings in the third quarter.
Posco is hosting a three-day forum held to discuss ways to reduce greenhouse gas emissions in steelmaking.
Semiconductor manufacturers are striving to develop technology for the reuse of wastewater sludge that is a byproduct of the chip manufacturing process.
Samsung Electronics and Hyundai Steel said Monday they have developed a new technology that can reuse wastewater sludge created during the chip manufacturing process as a supplementary material in steelmaking.
Hyundai Steel plans to create a specialized subsidiary in a bid to directly hire contractors, the company announced. The workers, originally hired by Hyundai Steel’s suppliers, will be offered permanent positions in the new...
Posco concluded negotiations over steel plate prices with major shipbuilders earlier this week, according to local media reports, and agreed on a price of around 1.1 million won ($950) per ton, a jump of almost 60 percent.
The Ministry of Trade, Industry and Energy said Thursday it will endeavor to maintain a stable supply of steel products used in construction in the second half.
Posco reported 1.81 trillion won ($1.6 billion) in consolidated net profit in the second quarter, up more than 1,700 percent on year.
Korea is fighting a new EU policy on emissions and will support companies as they try to adapt to the carbon border adjustment mechanism (CBAM), which is being called a trade barrier by another name.