Posco is keen to acquire Daewoo International, a unit of the Daewoo Group’s trading and overseas business. It is reported that Posco will outbid in a tender than its rival Lotte.

Poscot is interested in buying Daewoo International since it has good network of overseas offices that is good for Posco’s marketing and resource development operations.

Posco is also in need to look for a stable supply of iron ore and coal for the raw material.