POSCO Group has completed the construction of two factories producing lithium hydroxide and electric steel, as part of plans to tighten its position as a manufacturer of key materials used for eco-friendly vehicles, the company said Wednesday.
Posco Holdings said Wednesday that the steel giant has completed the construction of the country’s first lithium hydroxide factory, a move to strengthen its competitiveness in the global lithium race. The new facility is located within the Yulchon Industrial Complex in Suncheon, South Jeolla Province. The plant can annually produce 21,500 metric tons of lithium hydroxide, one of the key components used for batt.
POSCO Group has completed the construction of two factories producing lithium hydroxide and electric steel, as part of plans to tighten its position as a manufacturer of key materials used for eco-friendly vehicles, the company said Wednesday.
Posco Group will hold a board meeting next month possibly to start its search for its new chairperson, according to industry sources on Monday. It remains to be seen whether Posco Chairman and CEO Choi Jeong-woo will seek a third term. His second term ends in March next year. Under the group’s internal policy, the current CEO should be reviewed first if he wishes to run for another term. But sources say the gro.
South Korean steel giant Posco Group marked the 10th anniversary of the Posco 1% Foundation, the group's social outreach body, highlighting the voluntary participation of employees and executives as the key to long-running donations. Established in 2013, Posco 1% Foundation is financed by its employees who make regular donations using 1 percent of their monthly wages. As of 2023, over 98 percent of Posco’s.