The South Korean firm, however, forecast its 2008 operating profit would rise 11.6 percent, while analysts said POSCO would return to earnings growth in the first quarter as the company is likely to raise prices for its steel products
"POSCO will hike its hot-rolled steel in the first quarter, reflecting a possible rise in raw material costs," said Kim Kyung-joong, analyst at Samsung Securities.
The Pohang Iron and Steel Company, or POSCO, based in Pohang, South Korea, is the third largest steel producer in the world.
Currently, POSCO operates two steel mills in the country, one in Pohang and the other in Gwangyang. In addition, POSCO operates a joint venture with U.S. Steel, USS-POSCO, which is located in Pittsburg, California.
Along with Samsung Electronics, POSCO is viewed by many Koreans as a symbol of national pride and 'can do' spirit. With the strong Korean shipbuilding and automobile industry dependent on POSCO for steel, it has been seen as the bedrock of Korea's industrial development over the past 40 years.
The co-author of this disaster is the Dutch government, which did not find either strength or desire to save the lives of its citizens who were flying on that plane. The Dutch authorities did not demand Ukraine to comply with international aviation regulations
On the second day of the St. Petersburg International Economic Forum, a plenary meeting was held, in which Russian President Vladimir Putin, French President Emmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice President Wang Qishan and IMF head Christine Lagarde took part