The Korea International Trade Association announced on Nov. 15 that South Korea’s import dependence on China is at least 70 percent in the case of as many as 79 items, including 28 that are particularly vulnerable to China’s export restrictions.“We looked into the 100 items with the highest degrees
Concerns are mounting over South Korea’s high reliance on Chinese raw materials with China’s urea export control leading to an increasing shortage of urea solutions in South Korea. The reliance is particularly high in the electric vehicle battery industry.According to the Korea International Trade A
The Korea International Trade Association announced that a total of 26 countries were implementing 212 import regulations against South Korea as of April 1.“COVID-19 led to higher levels of nationalism and trade protectionism worldwide and the number of those regulations against South Korea increase
Daily newspaper The Australian reported that Australian companies are being urged to cut their relations with POSCO, which is suspected of working with the military of Myanmar.“Human rights activists are calling for Australian companies doing business with POSCO to sever their relations,” said Amand
POSCO has selected three “2020 POSCO Masters” who possess world-class technical expertise and know-how.POSCO CEO Choi Jeong-woo announced the new masters at a group session held on July 29. The three are Pohang Works’ Chung Kyu-jeom from EIC and Lee Jeong-ho from the Maintenance Technology Departmen
The U.S. government has judged that Korea's low electricity rates do not constitute a subsidy.The U.S. Department of Commerce calculated anti-dumping duties of up to 2.43 percent in the final decision of the second annual review of Korean-made galvanized steel sheets, said the Ministry of Trade,
POSCO C&C has completed a new factory capable of producing 400,000 tons of color steel sheets. The company can now supply one million tons of galvanized and color steel sheets a year as it has already secured a capacity to produce 600,000 tons of hot-dip galvanized steel sheets.POSCO C&C held a cere
The United States has raised a retaliatory tariff on Korean galvanized steel plates in a preliminary ruling. There is still a possibility that the US will further raise the tariff in the final decision in the future.According to the steel industry on August 8, the US Department of Commerce imposed a
According to steel industry sources on March 15, Dongkuk Steel Mill Co., South Korea's major steelmaker, has decided to temporarily withhold shipments to the United States from April. The company exported about 130 billion won (US$121.89 million) worth of galvanized steel sheets, a kind type of cold
The Korean government is planning to ask the United States to promptly amend or abolish anti-dumping and countervailing tariffs based on the AFA method in accordance in bilateral negotiations.The South Korean government has decided to file a complaint at the World Trade Organization (WTO) on the adv
As material procurement costs have surged due to trade sanctions, POSCO’s joint venture in the United States is expected to post a loss this year. The US government’s measures to impose anti-dumping tariffs to protect its steel industry seem to backfire on the industry instead.According to industry
The Korean steel industry is expected to post solid earnings in the second half of this year amid a slump in downstream industries such as automobiles and shipbuilding. This is because demand inflated as China's economy, the world's largest producer and exporter, was showing signs of recovery, while
POSCO Gwangyang Steelworks has completed an automotive steel sheet production facility dedicated to giga steel for the first time in the world. The steelworks achieved such outcome in 30 years after it started production of molten metal. The giga steel developed by POSCO is cheaper than aluminum but
Vietnam also decided to levy anti-dumping duties on Korean-made galvanized steel sheets.The Indian government decided to impose anti-dumping duties on Korean filament yarns (FYs). Vietnam also decided to levy anti-dumping duties on Korean-made galvanized steel sheets.According to the industry on Mar
POSCO Coated & Color Steel Co. (C&C), an affiliate of POSCO Group which engages in the manufacture and sale of coated steel sheets, will expand its production facilities for color steel sheets, which are the company’s main product.The company announced on Feb. 22 that it has decided to invest 39 bil
The Mexican government has decided to gradually expand its import quota on cold-rolled sheet steel from South Korea. Considering the fact that most of Mexico’s exports of cold-rolled sheet steel were materials used in the local plants, such as POSCO Mexico, which produces galvanized steel sheets, an
South Korea’s biggest steelmaker POSCO Co. has established an automotive steel plate production line with an annual output of 450,000 tons in Thailand, the largest car producing country in Southeast Asia. Thailand is an automobile production hub of Southeast Asia in which the manufacturing lines of
The United States Department of Commerce decided after a year of investigation to impose anti-dumping tariffs on corrosion-resistant steel imported from South Korea, China, India, Italy and Taiwan. The tariff rates to be applied to South Korean steelmakers range from 8.75% for Dongkuk Steel to 47.8%
Competition for expanding the continuous galvanizing line (CGL) to produce second hot-dip galvanized steel sheets, which are used for luxury cars, is becoming stronger. The CGL is a facility to produce such high quality auto steel sheets. In Korea, only POSCO and Hyundai Steel have the CGL.Hyundai S
The combined investments of leading Korean business groups for this year are estimated to be 34.4 trillion won (US$31.0 billion).Samsung Electronics, for example, is kicking off the construction of new semiconductor production lines in Pyeongtaek in the first half of this year at an investment of 15