South Korea's leading steel manufacturer, Posco, has carried out an emergency response drill at its Gwangyang plant to test the rapid recovery of mobile communication networks in the event of a disruption. The drill, held on June 13, was carried out in collaboration with the nation's three largest mobile carriers -- SK Telecom, KT Corp., and LG Uplus at the steel production facility in South Jeolla Province. This follows memorandum of understanding signed last year between Posco and th

Seoul shares ended higher for the third consecutive session to exceed 2,800 points for the first time in about 2 1/2 years Thursday on tech gains despite concerns over the possible delay of long-awaited US interest rate cuts. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 10.3 points, or 0.37 percent, to close at 2,807.63. The closing index exceeded the 2,800 level for the first time since Jan. 24, 2022, when the comparable reading was 2,828.11. T

Seoul shares opened higher Thursday, after a holiday in the US, helped by tech gains amid concerns over the possible delay of a long-awaited interest rate cut by the US Federal Reserve. The benchmark Korea Composite Stock Price Index rose 7.46 points, or 0.27 percent, to 2,804.79 in the first 15 minutes of trading. US stock markets were closed on Juneteenth on Wednesday to commemorate the end of slavery in the US The Fed recently pared back projections for rate cuts this year. In Seoul, tech sto

Posco Group Chairman Chang In-hwa stressed that the group will continue to focus on investing in its secondary battery materials business and expand the application of eco-friendly steel-making methods at a forum organized by World Steel Dynamics in New York, US, Posco Holdings said Wednesday. “The global auto industry will completely shift to electric vehicles in the end despite a recent slowdown. (Posco Group) sees the chasm as an opportunity to strengthen its business and to make new in

Seoul shares ended lower Monday to snap a four-session winning streak, amid speculations over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index fell 14.32 points, or 0.52 percent, to close at 2,744.10. Trade volume was moderate at 545 million shares worth 12.2 trillion won ($8.8 billion), with losers outnumbering gainers 522 to 359. Individuals bought a net 313 billion won wort

Seoul shares opened lower Monday, after a mixed close on Wall Street, as investors remain concerned over a possible delay in long-awaited interest rate cuts by the US Federal Reserve. The benchmark Korea Composite Stock Price Index fell 6.15 points, or 0.22 percent, to 2,752.27 in the first 15 minutes of trading. On Friday, the Dow Jones Industrial Average fell 0.2 percent to 38,589.16 and the Nasdaq Composite rose 0.1 percent to 17,688.88. The Fed has recently pared back projections for rate cu

Posco International began construction of its new traction motor core plant in Brzeg, Opole Voivodeship, Poland on Tuesday, the company announced Wednesday. A traction motor core is a crucial component in the powertrain systems in most eco-friendly vehicles, except the ones powered by traditional combustion engines. Construction of the new factory in Poland, which will be built on a 100,000-square-meter land plot, will be completed in mid-2025. The goal is to begin commercial production of tract

GS Group’s corporate venture capital arm, GS Ventures, said Tuesday that it has successfully hosted Monday's GSV Tech Day at GS Tower, the conglomerate’s headquarters in southern Seoul. Initiated last September, GSV Tech Day provides a platform for startups within the venture capital unit's investment portfolio to exchange technology and cooperate. This year's event was themed on the future of batteries, featuring eight startups specializing in battery-related technolo

South Korean stocks ended more than 1 percent higher Friday as investors' hopes for US rate cuts increased after the European Central Bank cut interest rates for the first time in almost five years. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index rose 33.17 points, or 1.23 percent, to close at 2,722.67. Trade volume was heavy at 771.8 million shares worth 12.2 trillion won ($8.9 billion), with gainers outpacing losers 460 to 400. Foreign invest

South Korean stocks opened sharply higher Friday backed by gains of big-cap tech and financial shares. The benchmark Korea Composite Stock Price Index rose 38.36 points, or 1.43 percent, to 2,727.86 in the first 15 minutes of trading. Overnight, the US stock market closed mixed as investors remained cautious ahead of key jobs data to be released later in the day, which will likely set the tone for the Federal Reserve's rate policy. In Seoul, market bellwether Samsung Electronics gained 0.9

Stock prices of oil- and gas-related companies spiked Monday, following President Yoon Suk Yeol's approval for exploratory drilling of potentially massive reserves of natural resources off the country's southeastern coast. Out of 10 stocks that hit upper price limits on Monday, seven were related to oil and gas. The benchmark Kospi was up 1.74 percent from the previous day. Shares of the state-run Korea Gas Corp. surged by 29.9 percent to close at 38,600 won ($28). Other shares in the

South Korean steel giant Posco Group said Friday that it held a ground-breaking ceremony for its new plants dedicated to nickel and precursor production, as part of efforts to secure a stable supply chain for secondary battery materials. For this project, Posco partnered with CNGR, a Chinese company renowned for its global leadership in precursor production. In January, Posco Holdings and CNGR established Posco CNGR Nickel Solution, their 60:40 joint venture specializing in nickel refining. Addi

South Korean stocks closed lower for the fourth consecutive day Friday on deepening concerns over a possible delay in US rate cuts. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index shed 34.21 points, or 1.26 percent, to close at 2,687.60. Trade volume was moderate at 491.3 million shares worth 12.01 trillion won (US$8.8 billion), with losers sharply outnumbering winners 618 to 263. Foreigners and institutions dumped local shares worth 377.4 billion w

Posco has harnessed its cutting-edge steel technology in the delicate task of South Korean cultural heritage restoration, transforming conventional sites in Seoul into vibrant spaces of public art and relaxation. At the heart of this project is PosART, or Posco Advanced Resolution printing Technology. It is an innovative steel sheet developed from PosMAC, or Posco Magnesium Alloy Coating Product, Posco’s proprietary corrosion-resistant steel. PosART also boasts the ability to render vivi

South Korean stocks opened sharply lower Friday, tracking overnight losses on Wall Street amid lowering hopes for the US Federal Reserve's early rate cuts. The benchmark Korea Composite Stock Price Index shed 34.27 points, or 1.26 percent, to 2,687.54 in the first 15 minutes of trading. The S&P 500 fell 0.7 percent, the Dow Jones Industrial Average slid 1.5 percent, and the tech-heavy Nasdaq Composite went down 0.4 percent as hotter-than-expected economic reports raised speculations the