POSCO seeks to increase automotive steel processing plants in China

SEOUL, Nov. 19 (Yonhap) -- POSCO, South Korea's leading steelmaker, said Thursday
it plans to increase automotive steel processing centers in China as part of
efforts to solidify its presence there.

The steelmaker is currently operating 15 plants in China that process steel used
for automobiles. POSCO has set up 41 steel-processing plants across Japan, China,
and 10 other countries.
"We are also planning to form joint ventures with Chinese companies to produce
automotive parts," a company official said.
China's auto production is expected to rise 30 percent this year to over 13
million units.
sam@yna.co.kr
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