Posco News

Posco, the world's third-largest steelmaker, reported a 12 percent decline in full-year group profit as the economic slowdown eroded demand and prices for the alloy used in cars, ships and construction.

According to two people familiar with the plans, Posco may build a smaller steel mill than planned in India after failing to secure enough land in the nation, Bloomberg reports.

Plans to tighten on-the-spot checks especially at metal and food companies The Ministry of Employment and Labor plans to strengthen the monitoring of working conditions in industries known for excessive overtime and weekend work, as part of its drive to shorten labor hours, officials said Thursday.

Korean steel producer, POSCO recently announced that the company will acquire a 15% stake in the Roy Hill Holdings, located in one of the richest iron ore belts in Australia, the Pilbara region.

South Korean shipyards plan to buy 12 percent less steel plate this year, worsening a demand slump that has hurt prices at Posco, the world's biggest producer.

South Korean shipyards plan to buy 12 percent less steel plate this year, worsening a demand slump that has hit prices at Posco, the world's biggest producer.

The company stock surged more than 4 percent in regular trading sessions. BancorpSouth, Inc.