Pohang - Posco, Handong Global University, Pohang University of Science and Technology, Hyeongsan River, Pohang City (Paperback)

Chapters: Posco, Handong Global University, Pohang University of Science and Technology, Hyeongsan River, Pohang City. Source: Wikipedia. Pages: 38. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: The Pohang Iron and Steel Company, or POSCO (KRX: 005490) (NYSE: PKX) (TYO: 5412) (LSE: PIDD), based in Pohang, South Korea, is the world's second largest steel maker by market value and Asias most profitable steelmaker. Currently, POSCO operates two steel mills in the country, one in Pohang and the other in Gwangyang. In addition, POSCO operates a joint venture with U.S. Steel, USS-POSCO, which is located in Pittsburg, California. With the strong Korean shipbuilding and automobile industry dependent on POSCO for steel, it has been seen as the bedrock of Korea's industrial development over the past 40 years. In the 1960s, South Korean President Park Chung-hee's administration concluded that self-sufficiency in steel and the construction of an integrated steelworks were essential to economic development. Since South Korea had not possessed a modern steel plant prior to 1968, many foreign and domestic businesses were skeptical of Seoul's decision to invest so heavily in developing its own industry. Despite the skepticism, under founder Park Tae-Joon's lead, POSCO was established as a joint venture between the Korean Government and TaeguTec (then Korea Tungsten Company). It began production in 1972, just four years after the company's inauguration in April 1968 with thirty-nine employees. Japan provided the money for the construction of the initial plant, following an agreement made at the Third South Korea-Japan Ministerial Meeting in 1969. Financing included US$73.7 million in government grants and loans, US$50 million in credit from the Japan Export-Import Bank, and technical assistance from Nipp...More: http: //booksllc.net/?id=88890