South Korean Pohang Iron and Steel Company (POSCO) announced that it plans to increase its annual steel production capacity to 52 million tons by 2030. With increased production, the company aims to achieve annual sales revenue of KRW 100 trillion ($79.05 billion), and triple its operating profit by 2030 compared to 2022. Meanwhile, POSCO will focus on its high value-added and environmentally friendly product portfolio. The company's Guangyang Steel Plant will start electric arc furnace construction in 2026, in line with the goals of reducing carbon emissions by 2030 and providing 10 million tonnes of low-carbon products.
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Steel NewsJuly 14, 20231 min read