https://www.scmp.com/rss/159031/feed Formerly known as Pohang Iron and Steel Company, POSCO is a South Korean steel group that was the world’s fifth largest steel maker in terms of out put in 2010. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Reuters Reuters South Korean Kim Yong-ho thought he would die within seconds after a 200kg (441lbs) industrial press at a Hyundai Steel plant sprang to life during maintenance and crushed his legs and back. It was 2019, and Kim said he thought the heavy machinery around him had been switched off as he made repairs. “I was flattened like a squashed frog in a roadkill,” he said. “I couldn’t breathe for a few seconds.” A quick-thinking colleague saved his life by alerting the machine’s operator, said Kim, now... https://www.scmp.com/news/asia/east-asia/article/3333020/south-korean-presidents-past-child-labourer-fuels-crackdown-workplaces-death?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3333020/south-korean-presidents-past-child-labourer-fuels-crackdown-workplaces-death?utm_source=rss_feed Mon, 17 Nov 2025 00:45:13 +0000 David Dodwell David Dodwell Whatever it’s been called – plumbago, black-cawke, wadd, black-lead – through century after century, graphite has been nothing if not humble. Last week, the United States slapped a 93.5 per cent duty on graphite imports from China. Share prices soared for graphite miners outside China, from Australia to Canada and South Korea. For some exporters, Trump’s tariffs are not an ill wind. The drama comes down to the global surge in the electric vehicle (EV) market, and the humble but essential role... https://www.scmp.com/opinion/china-opinion/article/3319491/why-trump-attacking-chinas-dominance-humble-graphite?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3319491/why-trump-attacking-chinas-dominance-humble-graphite?utm_source=rss_feed Fri, 25 Jul 2025 08:30:08 +0000 Amid the clanging of hammers and the glow of molten metal, an unexpected environmental revolution is taking shape. The steel industry, long perceived as a climate villain, is forging a new identity as a champion in the fight against global warming. This transformation isn’t just reshaping an age-old industry, it’s redefining our understanding of how even the most carbon-intensive sectors can pivot towards a sustainable future. Steel is fundamental to modern civilisation, used in everything from... https://www.scmp.com/opinion/world-opinion/article/3273249/steel-industry-forging-new-identity-champion-sustainability?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3273249/steel-industry-forging-new-identity-champion-sustainability?utm_source=rss_feed Wed, 14 Aug 2024 08:30:09 +0000 South Korea failed to reach an agreement with a striking truckers’ union in the first session of talks on Monday, the fifth day of a nationwide walkout, the union said, as supply chain glitches worsen and concrete runs out at building sites. The government, which estimates daily losses at about 300 billion won (US$224 million) as supplies of cement and fuel for gas stations run short, raised its warning of cargo transport disruption to the highest level. The lack of a resolution for the second... https://www.scmp.com/news/asia/east-asia/article/3201258/south-koreas-striking-truckers-say-no-deal-reached-government-talks-enforced-return-work-likely?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3201258/south-koreas-striking-truckers-say-no-deal-reached-government-talks-enforced-return-work-likely?utm_source=rss_feed Mon, 28 Nov 2022 09:00:24 +0000 The hairpin curves and bumpy roads connecting the mining settlement Goro to the outside world slice through coral-fringed cliffs and forests lined with waterfalls and streams. Yet what makes this picturesque area noteworthy lies deep beneath its red earth: nickel, also known as green gold. Goro is in New Caledonia, a far-flung archipelago 900 miles east of Australia and home to just 272,000 people. But the French territory carries outsize influence, holding about 7.1 million tonnes of nickel – a... https://www.scmp.com/news/china/article/3192663/us-and-china-vie-pacific-influence-and-resources-tiny-new-caledonia-can?utm_source=rss_feed https://www.scmp.com/news/china/article/3192663/us-and-china-vie-pacific-influence-and-resources-tiny-new-caledonia-can?utm_source=rss_feed Thu, 15 Sep 2022 20:01:44 +0000 The most powerful typhoon to hit South Korea in years battered its southern region on Tuesday, leaving 10 people dead after dumping almost a metre (3 feet) of rain, destroying roads and felling power lines, leaving 66,000 homes without electricity as thousands of people fled to safer ground. Typhoon Hinnamnor grazed the resort island of Jeju and made landfall near the mainland port of Busan in the morning and was moving northeast towards the sea with winds of up to 144 kilometres (89 miles) per... https://www.scmp.com/news/asia/east-asia/article/3191474/typhoon-hinnamnor-smashes-south-korea-leaving-20000-homes?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3191474/typhoon-hinnamnor-smashes-south-korea-leaving-20000-homes?utm_source=rss_feed Tue, 06 Sep 2022 02:38:59 +0000 South Korean petrochemical firms on Monday joined the automobile and steelmakers in cutting operations due to mounting inventories as transport disruptions from a strike by truckers spread quickly across Asia’s manufacturing powerhouse. The industry association representing 32 petrochemical companies in South Korea said the average daily ex-factory shipments of their member companies had plunged by 90 per cent due to the strike, now in its seventh day. “The Cargo Truckers Solidarity union’s... https://www.scmp.com/news/asia/east-asia/article/3181464/south-korea-economy-faces-risks-trucker-strike-enters-7th-day?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3181464/south-korea-economy-faces-risks-trucker-strike-enters-7th-day?utm_source=rss_feed Mon, 13 Jun 2022 03:50:22 +0000 China will impose duties on stainless steel imports from the European Union, Japan, South Korea, and Indonesia this week in response to the damage caused to the domestic industry by products sold at below fair market prices, the Ministry of Commerce announced on Monday. Anti-dumping duties ranging from 18.1 per cent to 103.1 per cent will be imposed on all stainless steel billets and hot-rolled stainless steel plates from Tuesday. “Dumping from the EU, Japan, Korea, and Indonesia has caused... https://www.scmp.com/economy/china-economy/article/3019590/china-hit-indonesia-japan-eu-south-korea-stainless-steel?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3019590/china-hit-indonesia-japan-eu-south-korea-stainless-steel?utm_source=rss_feed Mon, 22 Jul 2019 08:26:18 +0000 This story is published in a content partnership with POLITICO. It was originally reported by Anita Kumar on politico.com on July 01, 2019. While visiting South Korea over the weekend, President Donald Trump tried to strike a deal with President Moon Jae-in to get more companies to invest in the United States. But even as he pushed American interests, a partner of Trump’s namesake company is aggressively expanding plans to build luxury Trump-branded resorts in Indonesia – and the project... https://www.scmp.com/news/asia/east-asia/article/3016988/trumps-luxury-resorts-indonesia-collide-diplomacy-south-korea?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3016988/trumps-luxury-resorts-indonesia-collide-diplomacy-south-korea?utm_source=rss_feed Tue, 02 Jul 2019 22:00:14 +0000 Posco, South Korea's biggest steelmaker, has cut its sales forecast for this year for a second time after reporting a 22 per cent slump in third-quarter profit. The full-year sales estimate on a group basis was lowered to 63 trillion won (HK$460 billion) from a July prediction of 64 trillion won, Posco said yesterday. The lower forecast, which followed an April reduction, comes after an economic slowdown in China, the world's biggest steel user, and Europe's debt crisis cut consumption and... https://www.scmp.com/business/companies/article/1339206/posco-cuts-sales-forecast-further-after-profit-slump?utm_source=rss_feed https://www.scmp.com/business/companies/article/1339206/posco-cuts-sales-forecast-further-after-profit-slump?utm_source=rss_feed Thu, 24 Oct 2013 19:30:15 +0000 The US$1.1 billion purchase of a stake in ArcelorMittal's Canadian iron-ore unit by China Steel and Posco increased interest in Canada's ability to meet Asian demand for the steelmaking raw material. Champion Iron Ore Mines, Alderon Iron Ore and Labrador Iron Mines surged on Wednesday in Toronto after Taiwan's China Steel and South Korea's Posco led a group that agreed to buy 15 per cent of ArcelorMittal Mines Canada. The deal, the second-biggest in the Canadian iron-ore industry, gave the Asian... https://www.scmp.com/business/commodities/article/1119216/canada-gets-boost-arcelormittal-sale-labrador-trough-stake?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1119216/canada-gets-boost-arcelormittal-sale-labrador-trough-stake?utm_source=rss_feed Thu, 03 Jan 2013 16:00:00 +0000 Talk to anyone trying to run a business on the mainland, and you will hear a litany of familiar grumbles. Companies simply cannot recruit the staff they need. The employees they can get are woefully underqualified, and expect absurdly high salaries. Even worse, there is no point devoting time and money to training staff up to an acceptable standard, because after a few months promising employees will promptly jump ship to join a business rival, wasting all the effort involved. Strange as it may... https://www.scmp.com/article/632346/china-you-just-cant-get-staff?utm_source=rss_feed https://www.scmp.com/article/632346/china-you-just-cant-get-staff?utm_source=rss_feed Wed, 02 Apr 2008 16:00:00 +0000 In two days' time in a corner of eastern India, work on a US$12 billion steel plant that would have been the country's largest foreign direct investment should have started. It won't. South Korean steel giant Posco was set to start work on a plant on about 1,620 hectares of land in the eastern state of Orissa. The company signed a memorandum of understanding in June 2005 with the Orissa government to build the plant, a port and mines to produce iron, chromium and manganese. The state wants the... https://www.scmp.com/article/631770/villagers-show-steely-defiance?utm_source=rss_feed https://www.scmp.com/article/631770/villagers-show-steely-defiance?utm_source=rss_feed Sat, 29 Mar 2008 16:00:00 +0000 South Korean steel-maker Pohang Iron & Steel aimed to complete construction of its joint-venture Shanghai plant by the end of this year, the firm said yesterday. Production at the 110,000 tonne per year plant would begin next year. https://www.scmp.com/article/254699/pohang-factory-ready-next-year?utm_source=rss_feed https://www.scmp.com/article/254699/pohang-factory-ready-next-year?utm_source=rss_feed Thu, 10 Sep 1998 16:00:00 +0000 Asia's economic troubles have created investment opportunities for finance companies with the will to increase their exposure to the region, according to Barclays Capital. Director of credit research Damien Wood said while many investment outfits in the region were reluctant to enter the market and seek out new business in distressed economies, there were rewards for those who did. Barclays was looking at a number of opportunities with potential customers and new deals with existing... https://www.scmp.com/article/248133/barclays-capitalises-crisis?utm_source=rss_feed https://www.scmp.com/article/248133/barclays-capitalises-crisis?utm_source=rss_feed Tue, 14 Jul 1998 16:00:00 +0000