POSCO to increase investments in 2004-2008

POSCO to increase investments in 2004-2008

South Korean major steel producer POSCO is going to invest around Won 3.5 trillion ($2.5 billion) annually by 2008. The company spent an estimated Won 1.5 trillion ($1.2 billion) for facilities and research and development projects in 2003. POSCO announced that increasing raw material prices and a possible decrease in prices of major steel products in 2004 may impact its earnings performance this year.