POSCO recently announced it is likely to build a magnesium refining plant in Gangwon Province, Korea. "It is almost certain that we will sign an MOU with Gangwon Province to build a magnesium refining plant," said Kim Dong-wan, a POSCO spokesman.
The world's fourth-largest steelmaker has a magnesium sheet manufacturing plant in Suncheon, South Jeolla Province, supplying small magnesium parts for makers of handsets, notebooks and MP3 players.
POSCO also plans to make magnesium sheets for lighter bicycles in the Suncheon plant. POSCO and Gangwon Province are now in talks to decide on the amount of the investment. Industry insiders suggest POSCO will tap the bicycle business very aggressively with magnesium products.
On Sept. 1, POSCO established the ferromanganese manufacturing company POS-HiMetal to enter the ferromanganese manufacturing business. The company plans to start the construction of a plant in April next year and complete the construction in September 2011, to produce 75,000 tons of highly pure ferromanganese a year.
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DATE
Nov 23.09 
POSCO Likely to Build New Magnesium Refining Plant