Shares of firms under Korean steel giant Posco Group are skyrocketing, hitting new highs as the group is expected to excel amid high prospects for the battery industry, Posco Holdings, the holding firm and leading stock of Posco Group, closed at 551,000 won ($428) Friday, more than double its closing price of 272,000 won on Jan. 2. Posco Future M, the group's battery material maker, is also under the spotlight. .
Posco Group announced Monday that it will invest 121 trillion won ($93 billion) by 2030 to step up as a global leader in eco-friendly materials. The new investment plan was announced during a ceremony celebrating the 50th anniversary of Posco’s first steel mill set up in Pohang, North Gyeongsang Province, in 1973. “With the investment, (the group) will secure future technologies, stay ahead in the growing.