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PrintSouth Korean steel giant POSCO plans to launch a joint venture partnering with two Japanese companies in Mie prefecture to manufacture high grade steel pipes.
POSCO's first joint production base in Japan, the plant could produce 10,000 tonne of pipe a year mostly needed by the auto industry,，quoting POSCO officials on February 18.
South Korean steel products are gaining ground in Japan due to their competitive prices, and the country last year imported more than three million tons, mostly for construction purposes.
Steel pipe for auto parts requires greater skill to produce and Posco, with the help of its Japanese partners, hopes to gain a foothold in the field in Japan.
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