Posco Group is reportedly considering selling its stainless steel plant in Zhangjiagang, China, as part of a broader restructuring initiative led by Chairman Chang In-hwa to streamline 125 low-profit and non-core assets. According to industry sources Friday, Posco is in the process of selecting an advisory firm to aid in decision-making regarding the sale of Zhangjiagang Pohang Stainless Steel. With an annual production capacity of 110,000 metric tons, the plant was constructed near the Yangtze

The South Korean won dipped to a two-year low against the US dollar Wednesday on increased bets on Republican nominee Donald Trump's victory in the US presidential election. Korean stocks ended lower for the second consecutive day. The local currency was trading at 1,396.2 won against the greenback at 3:30 p.m., down 17.6 won from the previous session, the lowest since November 7, 2022, when the rate closed at 1,401.20. Investors rushed to buy US dollars as Trump's victory heralds an i

South Korean steel giant Posco Group on Wednesday held the 2024 Posco Group Tech Forum, an annual event dedicated to sharing advancements in the core technologies of the group’s key businesses and discussing future directions. Now in its 36th year, the event was held offline in Pohang, North Gyeongsang Province, for the first time in five years following disruptions caused by the COVID-19 pandemic. This year’s forum focused on deepening understanding of the group’s core technol

South Korean stocks kicked off higher Wednesday tracking an overnight tech rally on Wall Street. The benchmark Korea Composite Stock Price Index rose 9.64 points, or 0.37 percent, to 2,586.52 in the first 15 minutes of trading. Overnight, major US indexes gained ground as a report on the services industries shows that the US economy is still strong. The Dow Jones Industrial Average advanced 1.02 percent, the tech-heavy Nasdaq Composite increased 1.43 percent, and the S&P 500 went up 1.23 per

South Korean stocks ended lower for the second day Tuesday as investors treaded water ahead of the US presidential election. The local currency sharply lost ground against the US dollar. The benchmark Korea Composite Stock Price Index fell 12.09 points, or 0.47 percent, to close at 2,576.88. Trade volume was slim at 306.1 million shares worth 7.6 trillion won ($5.5 billion), with winners outpacing losers 514 to 356. Individual investors purchased a net 388.9 billion won worth of local stocks, wh

South Korean steelmaker Posco Group announced Tuesday that its joint venture, Posco Zhongtai Air Solution, has started construction of a high-purity rare gas plant in Gwangyang, South Jeolla Province. The joint venture was launched in August between Posco Holdings and China's Zhongtai Cryogenic Technology, which own 75.1 percent and 24.9 percent of the entity, respectively. Zhongtai, which specializes in gas-related facilities, is a Chinese cryogenic equipment company listed on the Shenzhen

South Korean stocks soared nearly 2 percent Monday to snap their three-day decline as the main opposition party agreed to scrap a planned tax on financial investments. The local currency sharply rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 46.61 points, or 1.83 percent, to close at 2,588.97. Trade volume was a little slim at 367.8 million shares worth 7.9 trillion won ($5.8 billion), with winners outnumbering losers 619 to 254. Foreigners and institutions purc

South Korean stocks fell for the third consecutive session Friday, led by tech share losses. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) lost 13.79 points, or 0.54 percent, to close at 2,542.36, extending its losing streak from Wednesday. Trading volume was light at 315.1 million shares worth 7.8 trillion won (US$5.66 billion), with decliners beating gainers 599 to 288. Foreigners and institutions dumped a net 38.8 billion won and 188.4

Posco International, the trading and energy arm of Posco Group, unveiled its first brand identity Thursday, presenting a new vision under the tagline, “We Find Answers Planet Wide.” The new identity reflects Posco International’s mission to seize the lead across diverse sectors, including steel, energy, food and emerging industries, while contributing to sustainable growth, CEO Lee Kye-in explained at the brand launch event, where he outlined the company’s ambitions for g

South Korean stocks kicked off sharply lower Thursday, tracking overnight losses on Wall Street. The benchmark Korea Composite S tock Price Index (Kospi) lost 33.62 points, or 1.3 percent, to 2,560.17 in the first 15 minutes of trading. Overnight, Wall Street finished lower, with the Dow Jones Industrial Average down 0.22 percent, the tech-heavy Nasdaq composite down 0.56 percent and the S&P 500 down 0.33 percent, as chip companies, including Advanced Micro Devices and Nvidia, lost ground. I

Seoul shares ended lower Monday, snapping a three-day rally as tech and battery stocks slumped due to foreign selling. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index lost 24.01 points, or 0.92 percent, to close at 2,593.79, marking its first drop in four trading sessions. Trade volume was moderate, with 476.4 million shares worth 8.76 trillion won ($6.3 billion) changing hands, as decliners outnumbered gainers 514 to 350. Foreign investors sold a net 3

South Korean stocks started lower Wednesday due to losses from large-cap shares in tech and auto firms. The benchmark Korea Composite Stock Price Index lost 15.27 points, or 0.58 percent, to 2,602.53 in the first 15 minutes of trading. Overnight, Wall Street finished mixed. The Dow Jones Industrial Average fell 0.4 percent, while the Nasdaq composite rose 0.8 percent to a record high on better-than-expected earnings from Alphabet, the parent company of Google. In Seoul, most market heavyweights

Located on opposite ends of the country, the Demilitarized Zone and the southeastern city of Pohang are emblematic of two contrasting features of the Korean Peninsula: the tension of a frozen conflict and the prosperity of South Korea as an industrial powerhouse. The DMZ stands as a stark reminder of the Korean War, while Pohang is a bustling coastal city of about 500,000 people, whose identity is deeply intertwined with heavy industry, particularly steelmaker Posco, which was founded there in 1

South Korean steelmaker Posco Group said Tuesday it plans to establish a comprehensive steel manufacturing facility in India in partnership with Indian steel giant JSW Group. The facility will incorporate core processes -- ironmaking, steelmaking and rolling -- aiming for an annual production capacity of 5 million tons. Odisha, located on India’s eastern coast, is currently being considered as the site for the facility, with plans for future capacity expansion, the company said. The joint

South Korean stocks rose more than 1 percent to hit a two-week high Monday led by a sharp rebound in top-cap Samsung Electronics shares. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.16 points, or 1.13 percent, to 2,612.43, marking the highest closing price since Oct. 15 when the bourse finished at 2,633.45. Trade volume was slim at 327.6 million shares worth 9 trillion won ($6.5 billion), with winners outnumbering losers 615 to 271. Institu