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POSCO International has been speeding up the commercialization of carbon capture and storage (CCS) to be its future growth engine, according to the company, Tuesday. The move comes after carbon neutrality by 2050 was set as a national task and legislation was expanded for carbon dioxide capture, transportation and storage.
POSCO International, which is set to merge with POSCO Energy, unveiled a plan to invest 3.8 trillion won ($2.67 billion) by 2025 to become a global energy company, during a company shareholders meeting, which was held on Friday.