On April 21, Seoul-headquartered South Korean steel producer Dongkuk Steel began the construction of a 1.2 million mt capacity rebar steel plant in Incheon, South Korea. Kim Young-chul, president of Dongkuk Steel, commented, "We aim to build a rebar steel plant that can compete on the global stage."
Dongkuk Steel will invest a total of KRW 190 billion ($171 million) to build the new environmentally-friendly rebar plant, which will come on stream in July 2012.