Korean steel makers increase investments in their facilities
Recent market news reveals that, Korean steel producers are planning to increase
investments on upgrading or expanding their facilities in 2004.
The survey conducted by
Korea Iron and Steel Association (KOSA) indicates that Korean steel producers are planning to invest Won 3.06 trillion ($2.7 billion) to their facilities in 2004. This figure indicates an increase of 88%, when compared with Won 1.62 trillion ($1.4 billion) recorded in 2003.
The survey also shows that, Korean steel producers are planning to increase
investments with the need of expanding their
production capacities and producing more value-added products with the purpose of meeting strong demand from
China and overseas countries.