Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
4
K-pop singer lost consciousness after being hit by foul ball, cancels show
-
5
Contentious grain bill put directly to plenary meeting for vote
-
6
Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
-
7
Why is Apple Pay struggling to get purchase in Korea?
-
8
Yoon's office denies considering liberal figures for key posts
-
9
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
10
[Today’s K-pop] BTS pop-up event to come to Seoul
![[Today’s K-pop] BTS pop-up event to come to Seoul](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/17/20240417050734_0.jpg&u=)
![[Today’s K-pop] BTS pop-up event to come to Seoul](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/17/20240417050734_0.jpg&u=)
POSCO, the country’s leading steelmaker, was granted approval by the Chinese government to build a steel mill there with an annual capacity of 3 million tons, the company said Wednesday.
Once the company gets the green light from the South Korean government, POSCO will build the facilities in the southwestern city of Chongqing, which will produce steel using the firm’s self-developed Finex technology.
The development comes less than two years after the company and Chinese steelmaker Chongqing Iron & Steel inked a preliminary deal in September 2013.
It will be the first time the company has exported its eco-friendly steelmaking technology. POSCO officials said that other countries, including Vietnam, Malaysia and Iran, had also expressed interest in the technology.
POSCO’s Finex technology processes fine ore with non-coking coal to make high-quality steel at a significantly lower cost.
(monicasuk@heraldcorp.com)
Once the company gets the green light from the South Korean government, POSCO will build the facilities in the southwestern city of Chongqing, which will produce steel using the firm’s self-developed Finex technology.
The development comes less than two years after the company and Chinese steelmaker Chongqing Iron & Steel inked a preliminary deal in September 2013.
It will be the first time the company has exported its eco-friendly steelmaking technology. POSCO officials said that other countries, including Vietnam, Malaysia and Iran, had also expressed interest in the technology.
POSCO’s Finex technology processes fine ore with non-coking coal to make high-quality steel at a significantly lower cost.
(monicasuk@heraldcorp.com)
![[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/18/20240418050645_0.jpg&u=20240419100350)
![[Today’s K-pop] Zico drops snippet of collaboration with Jennie](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/04/18/20240418050702_0.jpg&u=)