POSCO plans investment to improve competitiveness
For the year 2003, South Korean steel maker POSCO is planning to make investments of Won 1.6 trillion ($1.34 billion). Making these investments, the company aims to enhance its competitiveness in the international markets. POSCO chairman Yoo Sang Boo announced during the meeting held in New York with major investment institutions that the company mid-term strategies include concentrating on securing improving business in China, focusing on developing key products and international cooperation, as well as cost reduction.