Daewoo Names New Chief After Ex-CEO Quits Over Myanmar Gas Sale Spat

South Korea’s Daewoo International Corp., the operator of Blocks A1 and A3 offshore Myanmar, appointed a new CEO after the firm’s former top-ranking executive resigned over a disagreement regarding a plan by parent company POSCO to sell its stake in the Southeast Asian gas project, an official told Rigzone Thursday. Daewoo International named Vice President […]

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 […]

Leading S Korean steelmaker to invest in Myanmar construction industry

South Korean multinational steelmaker POSCO (formerly Pohang Iron and Steel Company) will invest in Myanmar’s construction industry, according to a company official. To carry out the construction projects, Myanmar POSCO E&C (Engineering & Construction) Co Ltd was formed and the Directorate of Investment and Company Administration allowed temporary registration to POSCO Company on Monday. POSCO […]