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POSCO International sees record-high profits in 2023

Korea Economic Daily LogoKorea Economic Daily2 mo ago

POSCO International sees record-high profits in 2023 - Korea Economic Daily

Quick Summary:

The two companies were merged this year.“Last year, both companies' profits were their highest ever,” said a POSCO official.“We will have to wait until December results are released, but even taking into account their pre-merger results, we expect to achieve the highest-ever profits this year.” Since Jeong Tak took the helm of the company this year, it has been expanding its presence in the fields of eco-friendly energy sources, EV components, rechargeable battery materials and low-emission steel raw materials.

POSCO International Corp., a South Korean general trading and energy exploration company, is expected to post its highest-ever profits this year thanks to steady earnings growth in the energy business and rising eco-friendly materials shipments to Europe, a company official said on Sunday.

In September this year, it secured a traction motor core supply contract worth about 900 billion won ($682 million) with Hyundai Motor Group.


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Article Details

Category: Economy

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-12-10 @ 17:46:02 (2 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 359 words

Reading Time: 2 minutes read

Sentences: 21 lines

Sentence Length: 18 words per sentence (average)

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Copyright Owner: © Korea Economic Daily

News ID: 19333497

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Main Topics: Economy

Official Website: kedglobal.com

Year Established: 1964

Headquarters: South Korea

News Last Updated: 1 days ago

Coverage Areas: South Korea

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Publisher ID: #91

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