POSCO Chief Executive Choi Jeong-Woo speaks during a Mar. 12 general shareholders meeting.
South Korean steelmaker POSCO Co. will put its efforts into gaining dominance in new growth markets such as eco-friendly vehicles and steel bars used for construction, said its Chief Executive Choi Jeong-Woo on Friday, as he enters his second term.
Choi, an ex-CEO of POSCO Chemical Co., an electric vehicle materials maker, took over as CEO of the steel giant in July 2018 after his predecessor Kwon Oh-joon abruptly stepped down before the end of his term. Group-wide, we will invest to expand our presence across the supply chain of core growth businesses, including liquefied natural gas and food, Choi told a general shareholders meeting held on Mar. 12, where his second term was confirmed.
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SK Innovation s battery plant under construction in Georgia, US
South Korea-based SK Innovation Co. is ramping up investment for its US-based electric vehicle battery business, with plans to raise up to 1 trillion won ($920 million) in a green bond issue for the company s battery plant construction in Georgia, US.
The green bond issue was approved during a board meeting last month, according to industry sources on Jan. 6. The Korean company s US subsidiary SK Battery America (SKBA) will issue the bonds and the proceeds will be used for the second battery plant construction in Georgia, which is estimated to cost around $1.5 billion.