Reportedly, Chinese steel giant Baosteel has inked a memorandum of understanding (MOU) with South Korean GNS Automotive Co., Ltd., a supplier of exhaust system, body parts, trim parts to establish a sales center in South Korea, aiming to sell auto-use cold rolled (CR) steel products.
Baosteel expected to start the construction of the sales center in this June and to complete the construction in the first half of 2013.
It's known that Baosteel decided to set up a CR steel sales center in South Korea in order to raise the supply of steel plates to South Korean automobile companies