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POSCO to Enter Into LED Lighting Business

관리자 | 2010.04.20 11:21 | Views 2341
POSCO ICT, a subsidiary of South Korea’s steel maker POSCO, will advance into the LED lighting business. POSCO ICT announced on Tuesday that it will put more weight on nurturing the green information technology (IT) sector.

"The lighting sector is related to the green IT sector encompassing smart grid and U-Eco City, and therefore in the big picture, undertaking the lighting business can be understood as part of efforts in pursuing green IT," said an official from POSCO ICT.

POSCO previously announced that it will invest seven trillion won ($6.3 billion) in the green sector by 2018, with an aim to achieve a profit of 10% to its total sales from the green sector. POSCO acquired a 1% stake in Seoul Semiconductor, a South Korean LED manufacturer, in December 2009, and reportedly considered taking over Namyoung Lighting.

The industry understands that POSCO will lead the LED business, while POSCO ICT, mainly engaged in providing IT services, will be responsible for lighting supply, system establishment and construction.

[Yoojung Lee / edited by Soyoung Chung]
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