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06 Jul
01:00

Korean raid hampers Posco quest to regain trust

South Korean prosecutors raided Posco Group headquarters on Friday as part of an investigation into the alleged creation of a slush fund at the company and improper merger and acquisition activity. The event is another blow to attempts by new chief executive and chairman Kwon Ohjoon to improve the company’s reputation, Kallanish notes. Kwon announced in May that he had formed an “emergency management and reform committee” in order…
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