POSCO's shipments exceed $50 billion

POSCO’s shipments exceed $50 billion

South Korean steel giant POSCO has announced that its cumulative shipments of steel products in 2004 exceeded $50 billion for the first time since its establishment in 1972. The company exported steel products worth $126 million in 2004. The exports of the company marked $50 billion on December 29, 2004. POSCO exported less than %25 of its total production in order to meet domestic demand. The officials also stated that the company will focus on domestic sales rather than exports as steel shortage in domestic market is likely to continue.