15 July 2021

POSCO (CEO Jeong-woo Choi) signs a contract with China’s HBIS Group Co., Ltd (河钢集团有限公司, HBIS) to set up a joint venture for production and sales of automotive steel sheet in China.

The two companies held a signing ceremony online attended by POSCO CEO Jeong-woo Choi, Head of Steel Business Unit Hag-dong Kim, President of HBIS Yu Yong, and General Manager of HBIS Wang Lanyu and decided to set up a 50:50 joint venture on the 25th.

“Through the partnership with HBIS Group, we plan to reinforce our position as the most competitive automotive steel sheet supplier in the world’s largest automotive steel sheet market, China,” CEO Jeong-woo Choi said during the signing ceremony.

Link to press release
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