SEOUL, KOREA - Taewoong Co., a specialist in forged metal products, held on December 9 a groundbreaking ceremony to build a steel mill in a 157,000-square-meter site in the Hwajeon Industrial Complex in Busan.
The newly built 380-billion-won steel mill will be equipped with an electric furnace, a smelting furnace, a vacuum degassing facility, and a continuous casting machine. A company official said, "We will put more than 20 percent of our investment funds in environmental equipment."
The main products to be produced in the Busan plant include ingot and round bloom products. According to the company, the line for round blooms will be able to produce mid- to the world's largest-size round bloom products.
The plant, to be completed by the end of 2015, will have a capacity of 700,000 tons a year. One of the biggest competitive advantages for the plant will be state-of-the-art facility that has minimized any negative environmental impact.
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