POSCO targets strong investments in domestic mills
Speaking at a conference in Seoul, South
Korea, POSCO president Kang Chang-Oh said that the South Korean steelmaker plans to continue investing strongly in its domestic mills.
The company plans to invest 1 trillion Won (approximately $1 billion) to upgrade two steel mills, one located in Pohang and the other in Gwangyang, by 2008 in order to meet the growing demand for high-end products.
The company further plans to increase the sales of its eight main steel products by 80 percent during the same period.