A South Korean steel company announced a US$830 million investment in Argentina

RIO DE JANEIRO, BRAZIL – The Chief of Cabinet, Juan Manzur, received this Wednesday, the president of the South Korean steel company Posco Argentina, KwangBok Kim, and the director of the company, SungKook Chung, who announced an investment in its plant in Argentina for 830 million dollars.

“We decided to execute our project by starting the construction of our commercial plant in March of this year with a direct investment of close to 830 million dollars”, said the head of Posco Argentina, KwangBok Kim, in statements to the media accredited at Casa Rosada.

Read also: Check out our coverage on Argentina

On his Twitter account, Manzur said: “Today I received the president of Posco Argentina, KwangBok Kim, and its director, SungKook Chung. This company is carrying out an integral lithium extraction project in the Salar del Hombre Muerto -between Salta and Catamarca- which is in an advanced exploration stage”.

The Chief of Cabinet pointed out that “we are analyzing different ways of state support so that this undertaking can continue to grow and generate new jobs, under the environmental standards of our country. We continue to strengthen the economic recovery”.

Meanwhile, the Korean steel company head said that Manzur “committed himself to give all the necessary support for our project’s success in Argentina”.

“As from March, we will start the first stage of construction of the commercial plant, which will significantly generate labor and resources for Argentina”, said the Korean businessman.

Posco’s “integral lithium project” is called Sal de Oro and is located in the Salar del Hombre Muerto, on the border between the provinces of Salta and Catamarca.

More: Argentina news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error