POSCO Q3 profit soars
South Korean giant steel producer Pohang Iron and Steel (POSCO) reported a net profit of Won 378 billion (approx.$301 million) for the third quarter of this year, which means almost twice the last year's same period. POSCO is targeting to reach a production of 27 million tons this year. The company has so far produced 13.7 million tons. It is also aiming to raise the operating profits upto Won 650 billion for the fourth quarter from Won 584 billion of the third quarter which is already a record. Furthermore minimum of Won 600 bilion operating profit is scheduled for each quarter of the coming year.