South Korean steelmaker POSCO sold its Zhangjiagang and Qingdao plants to generate 392 billion won, concluding nearly three decades of operations at the facilities.
The plant now operates under Guangdong Guangqing Metal Technology, controlled by global industry leader Tsingshan Holding Group, with the plant officially renamed to Zhangpu Stainless Steel (Suzhou) Co., Ltd.
Tsingshan ranked 254th on the 2026 Fortune Global 500 list with US$60.13 billion in revenue, producing more than 20% of global crude stainless steel.
The transaction expands Tsingshan’s international footprint, building on its Indonesian Morowali Industrial Park investments and lower production costs.