Steelmakers POSCO and Hyundai Steel are locking horns over the hydrogen economy. The two companies are clashing in the business of metal separators for hydrogen fuel cells as demand for hydrogen electric vehicles is expected to increase considerably in the future.Metal separators for hydrogen fuel c
POSCO has decided not to take over KCFT, a battery copper foil company. POSCO considered taking over KCFT to expand its secondary battery material business, but finally concluded that the acquisition does not match its strategy.KCFT produces copper foils, one of the components of lithium-ion batteri
POSCO is expanding its lithium production capacity to cope with the rapidly growing demand for electric vehicle batteries.According to industry sources on Jan. 6, Australian mining company Pilbara Minerals disclosed through the Australian Securities Exchange (ASX) on Jan. 2 that it has signed an MOU
POSCO has completed acquiring the lithium mining rights in Argentinian salt flat to secure stable raw materials for its lithium business, which is one of the company’s next generation growth engines.Korea’s largest steelmaker acquired lithium mining rights in Argentina's Sal de Vida from Austral
POSCO Group has started boosting production of secondary battery anode materials to expand its share of the global market.POSCO chairman Choi Jeong-woo pledged to nurture anode materials as its new core business right after taking office. The group aims to increase anode materials production from th
POSCO has decided not to hold the Innovation POSCO Festival this year due to labor-related issues.Held each year since 2002, the festival is an enterprise-wide event for reviewing the past year’s innovation activities and setting new goals for the upcoming year. Last year, the festival took place at
POSCO is producing 700 mm slabs with “PosMC Machine” developed by the Korean steel giant in June this year. Slabs are semi-finished rectangular products used as a material for hot-rolled steel sheets or heavy plates. It is said that the thicker a slab is, the more difficult its production is. A 700
South Korea’s top steelmaker POSCO posted its highest operating profit in the third quarter this year since 2011. Despite strengthening global protectionism and unfavorable factors in trading, the company has put up a good show by diversifying export markets and increasing the proportion of domestic
Will we be able to consider POSCO as a steel company 50 years later? The steelmaker plans to raise its sales in the non-steel sector to 60 percent of its total sales by 2068 as it believes that it cannot to rely on the steel business alone for growth in the next 50 years.On the contrary, Hyundai Ste
POSCO chairman Choi Jeong-woo has announced the largest-ever investment and employment plans in just one month after taking office. POSCO plans to invest 45 trillion won (US$40.43 billion) to create 20,000 jobs in the next five years.The group announced the investment plans on Sept. 3, saying that t
South Korean steelmakers POSCO and Hyundai Steel have applied for exemptions from the U.S. steel quota. If the U.S. Department of Commerce approves the item-specific exemptions, the two Korean steelmakers can export products irrespective of the 70% quota.According to industry sources, POSCO AAPC, an
POSCO, which took the secondary battery material business as a new growth engine, succeeded in securing a salt lake for lithium production.The Korean stealmaker announced on August 27 that it has signed an agreement with Galaxy Resources, a resource development specialist in Perth, Australia, to pur
The day of July 30 was POSCO chairman Choi Jung-woo’s first day of work at the POSCO Center in Gangnam-gu after his inauguration on July 27. Choi said, “We will raise our share of the global material market, including lithium, to 20 percent by 2030 and earn more than 15 trillion won (US$13.41 billio
POSCO has voluntarily returned some of its US steel export quota this year. The move is based on the company's judgment that its has lost price competitiveness in the US market due to the high retaliatory tariffs levied on some of its products.According to the steel industry on June 26, POSCO ha
As POSCO Chemtech president Choi Jeong-woo was tapped as new chairman of POSCO, the nation’s largest steel manufacturer is expected to step up its efforts to implement the 100-Year-Old Enterprise project.The project calls for shifting the steel giant's strategic focus from steel production and s
The U.S. Department of Commerce has decided to impose a retaliatory tariff of 30.85% on Hyundai Steel’s circular welded non-alloy steel pipes. Previously, similar decisions were made on South Korean line pipes and oil country tubular goods (OCTG) as well.The department recalculates its tariffs on di
Samsung Electronics Co. ranked 14th in this year's Forbes Global 2000, up one notch from last year.Samsung was the only Korean company to make the top 100 list. Other Korean companies that made the Global 2000 included Hyundai Motor Co., which placed 147th, and SK hynix which ranked 200th. They
POSCO has joined a global scramble for lithium, a key material for electrical vehicle batteries. The Korean steelmaker is promoting its lithium business as a next-generation growth engine.POSCO is pushing hard to acquire a salt lake in Argentina which has large lithium deposits, a move that follows
USS-POSCO Industries (UPI), the US subsidiary of POSCO, remained in the red for the sixth consecutive quarter in the first quarter of this year. POSCO and U.S. Steel established UPI in 1986 by investing 49% and 51%, respectively. The joint venture company posted a loss of 22 billion won (US$21 milli
The U.S. Department of Commerce provisionally decided to lower its retaliatory tariff on POSCO’s cold-rolled steel sheets from 59.72% to 42.61% following a ruling by the U.S. Court of International Trade (USCIT). Similar adjustments are anticipated as the court is looking into tariffs on many other