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POSCO Holdings to launch trade affairs division amid U.S. tariff woes
Choi Kyong-ae, Yonhap News Agency - POSCO Holdings, the holding company of South Korea's leading steelmaker POSCO, said Thursday it will launch a new department to deal with global trade issues, a move that apparently comes in the face of U.S. President Donald Trump's ever-changing tariff policies.
POSCO
Holdings will kick off the new department Friday to handle trade issues ranging
from steel and rechargeable battery materials to overseas energy resources
development on behalf of its affiliates, the company said in a press release.
"There
has been such a team that handles global trade affairs under POSCO, but the new
department is for all affiliates under the holding company," a company
spokesperson said.
The
company's affiliates include the country's leading steelmaker, POSCO, and
battery materials firm POSCO Future M, as well as trading arm POSCO
International Corp.
The Trump
administration recently imposed 25 percent tariffs on all steel and aluminum
imports, which is expected to deal a blow to the Korean steel industry.
