...o head Lee Jae-yong was granted a presidential pardon over a bribery case involving a former South Korean president. No. 1 automaker Hyundai Motor rose 1.55 percent to 196,000 won, and steel giant Posco Holdings gained 0.97 percent to 259,500 won. Posco's trading arm, Posco International, surged 9.31 percent to 24,650 won on the announcement that it is absorbing Posco Energy to accelerate the shift to green energy business. Top battery maker LG Energy Solution fell ...

Posco International, the trading arm of the Posco Group, said Friday that its board has approved a bill to absorb Posco Energy. The merger will be put to the vote at the general shareholders‘ meetin...e merger ratio and transfer approximately 46 million shares to Posco Holdings, the shareholder of Posco Energy. After the merger, Posco Holdings will hold a 70.7 percent stake in Posco International....

...cs advanced 1.35 percent to 59,900 won, and top battery maker LG Energy Solution jumped 3.06 percent to 472,000 won. Leading chemical firm LG Chem rose 1.54 percent to 658,000 won, and steel giant Posco Holdings soared 3.42 percent to 257,000 won. Domestic business-focused stocks fell. Major mobile carrier KT was down 0.8 percent to 38,150 won, and Samsung Fire & Marine Insurance slipped 0.7 per...

...rtal provider Naver dropped 1.13 percent to 262,000 won, with platform giant Kakao dipping 3.49 percent to 80,300 won. Construction companies and steelmakers advanced. Hyundai Engineering & Construction jumped 7.54 percent to 46,350 won, and Posco Holdings rose 1.02 percent to 248,500 won. The local currency ended at 1,310.40 won against the US dollar, down 5.8 won from Tuesday's close. (Yonhap)

...etary tightening. Seoul stocks turned to positive territory toward the closing bell, led by foodmakers and materials companies. Top foodmaker CJ Cheiljedang soared 8.62 percent to 428,500 won and POSCO Chemical jumped 5.57 percent to 151,500 won, both on the back of strong quarterly earnings. Battery makers also finished bullish. LG Energy Solution climbed 2.35 percent to 457,500 won, with Sams...

...Samsung SDI lost 0.17 percent to 597,000 won. Leading container shipper HMM retreated 3.65 percent to 25,050 won. But top automaker Hyundai Motor rose 0.77 percent to 196,000 won, and steel giant POSCO Holdings gained 0.21 percent to 240,000 won. Biopharmaceutical company Celltrion also climbed 3.3 percent to 203,500 won. The local currency ended at 1,306.40 won against the US dollar, down 8.1 ...

South Korean steelmaker Posco Group said Friday that it has established an advisory committee for artificial intelligence technology, to initiate an in-depth discussion on the latest technology and m... will each be responsible for sharing the latest AI trends, discussing the field of business that Posco can adopt and apply, as well as giving advice on business strategy and building a talented workf...

Posco said Tuesday that it will conduct a feasibility study with Brazil’s largest raw material supplier, Vale, for the possible production of hot briquette iron as part of the steel giant’s efforts t... maintained close ties for more than 40 years, with Vale supplying key materials like iron ore to Posco, the steel giant, for decades. Meanwhile, on Monday, Posco said Kobrasco, a joint venture firm ...

Posco said Friday that it has raised $1 billion by selling debts overseas, the largest corporate bond issuance by a South Korean company this year. According to the South Korean steel giant, the two...entage point for the second consecutive time to fight inflation fears. It is the first time that Posco has issued a dollar bond under a new holding company system. In March, Posco Holdings was newly ...

POSCO, South Korea's top steelmaker, said Friday that it has raised $1 billion by selling debts overseas. The two-tranche debt comprises three-year bonds worth $700 million and five-year bonds worth $300 million, according to the steelmaker. POSCO said the proceeds from the debt sale will help beef up its cash flows down the road amid rising market rates. (Yonhap)

Marking Widodo’s visit to Seoul, South Korean steelmaker Posco said it had clinched an agreement with its joint venture partner PT Krakatau Steel to cooperate in establishing a second furnace and man...ccording to the deal, the companies agreed to invest 4.6 trillion won by 2026 to the PT Krakkatau-Posco joint venture. The new furnace will increase annual crude steel production volume to above 6 mil...

Posco Chemical, a chemical materials unit of South Korean steel giant Posco, signed a deal to supply General Motors with 13 trillion won’s ($10 billion) worth of cathode materials on Thursday. Cathode materials determine the capacity and average voltage of batteries. With the deal, Posco will now supply high-nickel cathode materials, largely used as electric car batteries, to LG-GM joint ventur...

Posco International, the trading arm of Posco Group, is supplying Incheon Airport with 23,000 tons of structural steel to be used in expanding the airport’s second passenger terminal. They will be supplying curtain walls and roofing materials made with eco-friendly materials until Incheon Airport finishes the construction of Terminal 2 by 2024, according to Posco International. A curtain wall i...

South Korean steel giant Posco Group has put itself on an emergency management footing, its holding company said Sunday, as business units across the group brace for weaker profits amid an expected s.... The decision came in a Thursday meeting of Chairman Choi Jeong-woo and other top executives of Posco Group, Posco Holdings Inc. said. Posco Holdings said the group's top executives reviewed risk f...

...KB Financial Group also skidded 1.24 percent, and Shinhan Financial Group decreased 0.7 percent. Carmakers also fell, with leading carmaker Hyundai Motor falling 1.06 percent and its smaller affiliate Kia decreasing 0.74 percent. No. 1 steelmaker POSCO lost 1.08 percent. The local currency was trading at 1,312.80 won against the US. dollar, up 0.1 won from the previous session's close. (Yonhap)