Inchon Iron, Kangwon Set to Be Merged by Year End.

From: Korea Times (Seoul, Korea) | Date: October 15, 1999 | Copyright information

Hyundai Group plans to complete the spinoff of its subsidiary, Inchon Iron and Steel and Kangwon Industries this year.

In an announcement yesterday, Hyundai said that the merger of the two electric arc furnace operators would make it the world's No. 2 producer of steel construction materials, with an annual capacity of 7.89 million tons.

In order to spin Inchon Iron off, Hyundai said that its stake of the steel maker will be sold in stages.

Th...

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