According to Korean media KoreaHerald, PCOSICT, a engineering and information services company of Posco Steel (POSCO), the world's fourth largest steel producer, plans to enter the LED market. POSCO merged its two subsidiaries, POSDATA and POSCON, in January to establish POSCOICT, which holds 72.54% of the shares.
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POSCOICT executives said that the company should not be directly involved in LED manufacturing, and a more detailed plan is expected to be finalized in the second half of 2010. Since smart buildings require energy-saving systems, the LED business will be more effective than other companies in the company. Posco Steel invested in LED manufacturer Seoul Semiconductor in December 2009, holding 1% of its equity.
Although POSCOIC executives said that the plan to enter the LED business is not directly related to POSCO, Posco Steel is very interested in the green business. In February, Posco Steel said it will invest 7 trillion won (about 6.3 billion U.S. dollars) in green business by 2018, hoping that 10% of its revenue comes from green-related businesses. 
December 05, 2024