Business Services Industry

S KOREA'S POSCO OPENS CHINESE HOLDING COMPANY.

AsiaPulse News, November, 2003

SEOUL, Nov 7 Asia Pulse - POSCO (KSE:005490), one of the world's leading steel manufacturers, has launched a holding company in Beijing to systematically assist its various investment projects in China.

POSCO China Holding Corp. will assist POSCO's Chinese investment projects as well as help coordinate employee education and training and is designed to eventually act as the central body for Chinese investment and strategy development, a company official said.

The holding company's initial capital totals US$35 million, he added.

POSCO China initially plans to take over 10 per cent of POSCO's holdings from each of the company's three Chinese projects - BX Steel POSCO Cold Rolled Sheet Co., Qingdao Pohang Stainless Steel Co. and POSCO Suzhou...

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