POSCO Plans Investment in Growth Engine Facilities
04/20/2023 - South Korea’s POSCO Group is planning to invest the equivalent of US$3.04 billion in growth projects next to its Gwangyang plant, should the government lift restrictions on uses of state-run industrial complexes, reports the Yonhap News Agency.
According to the press service, the government is hoping to kickstart corporate investment in hi-tech industries by allowing state industrial parks to be used by sectors other than those for which they were originally intended.
“POSCO’s planned investment will likely create synergy between its existing steel facilities and state-supported cutting-edge industries,” the company said in a statement, according to the news agency.
