POSCO to disclose investment plan for 2004 next week
South Korean major steel producer POSCO is going to invest over Won 2 trillion ($1.7 billion) in research and development (R&D) activities next year in order to produce high value added products, as previously reported by SteelOrbis. A company official stated that POSCO may also consider joining a construction project of a cold rolled steel plate facility in China, offered by South Korean Hyundai Hysco. Additionally, he said that any rise in raw material prices will be disturbing as it will directly affect product prices and indirectly the company's profitability and competitiveness negatively. The board of POSCO is reportedly gathered today to specify the investment plan for 2004, which is expected to be declared next week.POSCO to disclose investment plan for 2004 next week
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