On September 1, two subsidiaries of South Korean steelmaker POSCO - POSCO (China) Co., Ltd and POSCO E&C China - signed an agreement with northern Chinese steelmaker Tonghua Iron and Steel Group and with the municipal government of Huichun, Jilin Province to cooperate in the development of the ‘Changchun-Jilin-Tumen River' zone in several areas.
According to the agreement, Tonghua Iron and Steel Group will establish a steel processing base in Huinan development zone in the Changchun-Jilin-Tumen River zone together with POSCO (China) Co., Ltd. Both parties will further cooperate in the field of technology and steel resources.
In addition, POSCO E&C China will join the development of the Huichun border international logistics base project, which has been initiated by the Huichun municipal government. In addition, the two sides will cooperate in the development of the South Korean Industrial Zone.