South Korean Companies to Build South African Plants, Business Day Reports

South Korean companies, including Posco (005490), the steelmaker, HSG Heavy Industries Co. and LG Electronics Inc. (066570) plan to build manufacturing plants in South Africa, Business Day reported.

Other companies planning to set up operations were Hankook Tire Co. and Korea Trade Insurance Corp., the Johannesburg-based newspaper said. Africa offers profitable opportunities for South Korean companies, it cited Byung-Sam Kim, director-general for Africa at the Korean Trade and Investment Promotion Agency, as saying.

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