Posco Has No Interest In Daewoo Shipbuilding Stake

South Korean steelmaker Posco won't acquire a controlling stake in Daewoo Shipbuilding & Marine Engineering, Posco's chief executive said Thursday. "We have no interest in buying the shipbuilder," Lee Ku-taek told analysts and reporters after the announcement of Posco's fourth-quarter results. Lee also said that he expects Posco's first-quarter results will be "very low" but an improvement is expected in the second half.
He added that the world's fourth-largest steelmaker by output has no plan to cut domestic product prices for now as this year's talks with raw material suppliers have yet to take place.