POSCO, the world’s third-largest steelmaker, said on Thursday it aimed to achieve consolidated sales of 67.4 trillion won ($61. 8 billion) this year by further strengthening its core business.It will divest its noncore assets, partly by selling its stakes in its affiliates.The steelmaker said in a meeting with its investors that it would continue its restructuring efforts and concentrate on fortifying its steel business to gain sales of about 30 trillion won. The company will invest only about 4

Moody’s Investors Service said Monday that Hyundai Steel’s robust operating results for 2014 proved a stable outlook.“Hyundai Steel’s reported operating income for the full year ended Dec. 31, 2014, doubled year-on-year, resulting in a material improvement in its financial leverage,” said Chris Park, Moody’s senior vice president.“Moody’s had expected in December 2014 that Hyundai Steel would record strong full-year results. We therefore changed the outlook on the company’s ratings to stable fro

A U.S. soldier was arrested on charges of stealing a woman’s purse, authorities said on Monday.The unnamed private first class is accused of taking a South Korean woman’s purse last Friday at a nightclub near Hongik University, western Seoul.Police arrested the soldier in the early hours of Sunday, after he was seen again at the same club. A nightclub staff member recognized the soldier from earlier camera footage showing him stealing the purse, and notified the police.Upon arrest, the U.S. serv

POSCO, South Korea’s largest steelmaker, is expected to start building a steel plant in Chongqing, China, as early as next month, reports said Monday.“Chinese Vice Premier Wang Yang has vowed to approve the construction of the project as soon as possible. We could receive an authorization next month, at the earliest,” POSCO chairman Kwon Oh-joon told reporters after a meeting with Yang in Seoul on Saturday. But a POSCO spokesperson stressed that nothing had been fixed yet, saying the chairman wa

BISSELL, a U.S. vacuum cleaner and floor care product manufacturer, said Thursday that it aimed to achieve 5 billion won to 10 billion won ($4.6 million-$9.2 million) in sales in its first year in Korea. The Michigan-based company is planning to enter the market by launching its latest model, the Symphony All-in-One, on TV homeshopping channels.“Korean consumers are peculiar when it comes to cleaning and choosing floor care products with high technology,” BISSELL Asia regional brand manager Evel