South Korea’s Posco, the world’s third-largest steelmaker by output, said Thursday it had signed an agreement with US giant General Electric to cooperate in energy business and technology.
Posco chairman Chung Joon-Yang and GE’s visiting CEO Jeffrey R. Immelt signed a memorandum of understanding in Seoul on the cooperation.
The two firms will jointly take part in projects to build power plants in South Korea and abroad.
They also plan jointly to develop speciality steel used in the gas and oil sectors and take part in infrastructure projects in emerging markets.
Posco and GE sign cooperation deal
