Tag: South Korea: POSCO announces construction of new EAF

South Korean steel major, POSCO, announced at its regular board meeting that it has decided to invest JPY 60 billion in the construction of a new electric arc furnace (EAF) with an annual production capacity of 2.5 mnt at its Koyo plant. Construction will begin in Jan’24, with the goal of full-scale operation in 2026.…