- Plans to jointly enter environment business including wastes-to-resource sector

POSCO ICT (CEO Hur Nam-suk) will enter into overseas environmental and energy markets in collaboration with Korea Environment Corporation (KECO).

On the 22nd of this month POSCO ICT and KECO signed an agreement to start this overseas environmental and energy business at Pangyo Company Office, with Hur Nam-suk, CEO of POSCO ICT, Park Seung-hwan, President of Korea Environment Corporation, and other officials in attendance.

Based on the agreement, POSCO ICT and KECO plan to enter Indonesian wastes-to-resource market. Indonesia has been faced with environmental challenges having to cope with rapidly increasing wastes, which have been unsanitarily treated and under under-recycled ― over 90 percent of them go un-recycled. Accordingly, POSCO ICT and KECO plans to jointly vie for wastes-to-resource and pollution-prevention projects in Indonesia, leveraging technology and know-how cumulated through successful projects deployed in Korea.

This government and private sector-government cooperation between KECO and POSCO ICT is expected to create synergistic effects as the Korean government has been enacting various policies to support Korean companies’ entry into the overseas environmental markets. In addition, the bid for wastes-to-resource projects in Indonesia is likely to be accelerated, as POSCO has been building an integrated steel mill in the Krakatau area in cooperation with the Indonesian government.

“POSCO ICT has been involved in various projects, such as photovoltaic power generation, wind power generation in Korea, and resource recovery from a landfill in Turkey. This collaboration agreement will give POSCO ICT a huge boost for entry into overseas markets including Indonesia,” said a POSCO ICT official.