SEOUL, March 4 (Yonhap) -- POSCO Co., South Korea's largest
steelmaker, said Wednesday that it has signed a tentative deal with a sovereign
fund of Saudi Arabia to push for "comprehensive" cooperation that
includes construction and automaking.
The tie-up was promised under a memorandum of understanding
signed by POSCO CEO Kwon Oh-joon and Abdulrahman Al mofadhi, head of the Public
Investment Fund (PIF) of Saudi Arabia, the steelmaker said. Kwon accompanied
President Park Geun-hye on her trip to the Middle Eastern country.
Source- steel guru