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2 builders fined for rigging prices for public construction projects

SEJONG, March 3 (Yonhap) -- South Korea's antitrust watchdog said Monday that it has fined two local major builders a combined 12.12 billion won (US$11.31 million) for conspiring to rig bids for large-scale public construction projects. POSCO E

Two POSCO employees found dead at Pohang plant

DAEGU, Dec. 16 (Yonhap) -- Two POSCO employees were found dead Monday at the steelmaker's main plant in Pohang, southeastern South Korea, fire officials said. An accident of unknown cause occurred at an oxygen production facility of the Pohang plant about 380 kilometers southeast of Seoul at 8:30 p.m., said the officials, adding that fire fighters have rushed to the scene. The officials and the municipal government of Pohang said an investigation was under way to determine the cause of the accident.

Steelmaker ArcelorMittal says it's turning corner as earnings rise

By Philip Blenkinsop BRUSSELS (Reuters) - ArcelorMittal <ISPA.AS>, the world's largest steelmaker, said on Thursday its two-year slump was over and prospects for 2014 were looking up, after higher U.S. steel shipments and mining output boosted third-quarter profits. The company, which makes 6-7 percent of global steel and is a broad gauge for the health of the global manufacturing industry, said it believed it had passed the low point of the economic cycle.

Rio draws up shortlist for Canada iron ore sale: sources

By Jackie Range and Anjuli Davies SYDNEY/LONDON (Reuters) - Mining group Rio Tinto Plc <RIO.L> has drawn up a shortlist of half a dozen suitors for its majority stake in Canada's largest iron ore producer, sources with knowledge of the situation said on Monday. Rio values Iron Ore Co of Canada (IOC) at around $8 billion and is seeking between $3.5 billion and $4 billion for its stake, one of the sources said - roughly double industry estimates when the asset was earmarked for sale earlier this year.

major firms-donations

SEOUL, March 20 (Yonhap) -- South Korea's major companies sharply cut their financial contributions to society last year although their sales increased sharply despite the global economic downturn, data showed on Wednesday. According to the data compiled by research firm CEO Score, the top 17 companies in terms of market capitalization donated a combined 860 billion won (US$770 million) last year, compared with 1.06 trillion won a year earlier. Public firms and financial holding firms were excluded from the calculation.
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