A recent tweet by the Ethiopian Minister of Mines and Petroleum Takele Uma disclosed that POSCO, a Korean steel manufacturer, will assist Ethiopia in steel production. It further noted that support effort began on April 13, 2022, in collaboration with POSCO’s team and experts from the Ministry of Mines and Petroleum. The company’s involvement with steel production in Ethiopia was also revealed to be the result of an invitation put forward by Prime Minister Abiy Ahmed.
With its current headquarters in Pohang, South Korea, POSCO (formerly Pohang Iron and Steel Company Ltd.) was founded in 1968 and became the world’s largest steel manufacturing company by market value in 2010, and the world’s fourth-largest steelmaker by producing 42,000,000 metric tons of crude steel in 2015.
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