Daewoo International CEO dismissed over Myanmar sale

POSCO has decided to dismiss Daewoo International CEO Jeon Byeong-eal for openly disapproving of its plan to dispose of Daewoo’s stake in a Myanmar natural gas project, officials familiar with the matter said Wednesday. The world’s fourth-largest steelmaker is expected to accept the resignation tendered by Jeon on May 14. Jeon and 31 other heads […]

Will POSCO sell Myanmar gas ownership?

By Lee Hyo-sik Whether POSCO will dispose of Daewoo International’s natural resources businesses is drawing keen attention from investors and business circles. The world’s fourth-largest steelmaker holds a 60.31 percent stake in Korea’s largest trading firm, which has successfully been producing natural gas in the waters off Myanmar since June 2013. POSCO Chairman Kwon Oh-joon, […]