POSCO plans IPOs, downsizing to raise cash
May 19, 2014
POSCO, the world’s fifth-largest steelmaker, is expected to drive a bold downsizing of noncore affiliates and seek initial public offerings of key business arms to improve its financial health and reinforce its core business.Company chairman Kwon Oh-joon, who was inaugurated in March, outlined Monday his reform plans during an investor relations session in Yeouido, Seoul.One of the key parts of the reform is downsizing fringe business units by merging overlapping businesses and selling noncore a