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POSCO expects the market to recover after increasing prices

POSCO expects the market to recover, which has suffered due to its increasing prices for 2023.

POSCO expects the market to recover after increasing prices
The typhoon and flood disaster that occurred in September 2022 caused annual operating profit to decrease by 46.7%. 
The company's profit in 2021 was 9.2 trillion won and its profit in 2022 was 4.9 trillion won ($3.97 billion).
The typhoon earlier this month caused a river near the company's facility in Pohang to overflow. The operations of the 17 rolling mills were completely restored after about 4 months.
Steel producers increasing prices could adversely affect the expected recovery for 2023. Despite this, the company said it expects to see 85.8 trillion won in annual revenue this year.
While growth in overall steel demand is likely to be kept in check, it expects POSCO earnings to improve this year as production resumes.


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