POSCO FUTURE M

Posco Future M said Tuesday it plans to invest 489.4 billion won ($342 million) into Ultium Chem, its cathode materials joint venture with General Motors in Quebec, Canada, despite a slowdown in electric vehicle demand exacerbated by ongoing trade disruptions in North America.

POSCO Future M will participate in InterBattery 2025, held at COEX Seoul, from March 5 to 7. It will highlight its cathode and anode technology roadmap and the group-level supply chain achievements spanning raw materials, battery materials, and recycling.

POSCO Future M has announced its 2024 consolidated financial results, reporting revenue of KRW 3.6999 trillion and an operating profit of KRW 700 million. Revenue decreased by 22.3%, while operating profit declined by 98.0% compared to the previous year.

On the 27th, POSCO Future M held its regular board meeting and decided to propose the nomination of internal and external director candidates for the agenda of the regular shareholders' meeting.

Following its Pohang site, POSCO FUTURE M has commenced construction of a high-value-added, high-nickel NCA (Nickel, Cobalt, Aluminum) cathode material plant in Gwangyang.

POSCO FUTURE M has been recognized for its achievements in ESG management by being selected as an 'Industry Mover' in the 2023 Corporate Sustainability Assessment (CSA) conducted by S&P Global, one of the world's top three credit rating agencies.

POSCO CHEMICAL is changing the corporate name to POSCO FUTURE M.

POSCO Chemical has decided to issue 400 billion KRW worth of bonds, twice as much as the initially planned amount of 200 billion KRW, as a result of its good performance in an ESG bond demand forecast.

POSCO Chemical is gearing up to expand its production capacity for artificial graphite anodes.

POSCO Chemical to expand its low-expansion anode materials output