JSCO Holdings, Strategic MOU with Major Domestic Corporations

[Asia Economy Reporter Jang Hyowon] J-Sco Holdings announced on the 4th that it signed a Memorandum of Understanding (MOU) on the 30th of last month for a strategic partnership in the steel business with a domestic large corporation. Through this MOU, J-Sco Holdings is expected to secure smooth procurement of raw materials and establish stable domestic and international sales channels through the domestic large corporation.

Under this agreement, J-Sco Holdings plans to purchase raw materials (slabs and billets) for rebar manufacturing through the domestic large corporation. Additionally, J-Sco Holdings will jointly promote domestic and international sales activities of rebars produced in-house with the domestic large corporation.

The domestic large corporation will supply large quantities of raw materials such as slabs and billets for rebar manufacturing to J-Sco Holdings through this agreement and support the distribution and sales of rebars produced by J-Sco Holdings both domestically and internationally.

J-Sco Holdings explained that it significantly expanded its production capacity (CAPA) last year by improving production facilities through facility investments, and by securing large-scale raw materials from the domestic large corporation, it will continue a stable production trend of rebar product lines.

A J-Sco Holdings official said, “Amid recent challenges in steel raw material procurement due to high exchange rates and the Ukraine war, we have secured rebar supply at competitive price conditions,” adding, “Through this strategic MOU with the domestic large corporation, we expect to expand sales by securing stable rebar raw materials and strengthening domestic and international sales networks.”

He continued, “Starting with this rebar business cooperation with the domestic large corporation, we plan to expand partnerships to the company’s entire business areas, including production and sales of other items such as wire rods,” and added, “We will strengthen the company’s competitiveness through cooperation with the domestic large corporation in various fields in the future.”