POSCO announces mid-term management strategies
South Korean giant steel producer POSCO is preparing a five year plan with intentions of enhancing management efficiencies together with maximizing corporate value by 50%. The steelmaker is planning to increase the total assets of its 13 domestic subsidiaries to Won 3trillion ($2.46 billion) from the current Won 2 trillion level, according to the announcement made in a recent POSCO subsidiary forum. The major aim is to increase sales and profitability by reorganizations of management, process improvement within these five years. Net income is scheduled to increase by 200% to Won 350 billion.
POSCO also intends to launch public offerings for its subsidiaries, mainly for Changwon Specialty Steel, POSCO Engineering and
Construction. Low profit and non-performing assets are aimed to be liquidated.