SEOUL, South Korea (AP) — A South Korean steelmaker on Friday said it plans to end a joint venture with a military-controlled firm in Myanmar following criticism that its business has benefited military leaders who have violently suppressed pro-democracy protests there. POSCO Coated & Color Steel said it has decided to discontinue its partnership with Myanmar Economic Holdings Public Company Limited, which is about 40% owned by Myanmar’s Ministry of Defense. However, the company said does not intend to pull out of Myanmar. A military junta seized power from an elected civilian government in a Feb. 1 coup. Human rights groups are lobbying many companies to withdraw from Myanmar or in some way end payments to companies associated with the military.
