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Posco's Indonesian unit turns profit for the first time

South Korean steelmaker finally generating profits at overseas ops

SEOUL -- Posco's joint venture in Indonesia achieved its first operating profit after four years of operations, the South Korean steel giant said Monday.

Krakatau Posco is 70% owned by Posco, with the rest held by Indonesia's state-run Krakatau Steel. It is the South Korean parent's first full-fledged steel mill overseas.

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