POSCO Future M expanded its battery material product portfolio and achieved record-high sales in the second quarter once again, breaking the record-high sales it attained in the first quarter.
POSCO Chemical published a Corporate Citizenship Report 2021 on July 5 and announced the company’s roadmap to carbon neutrality in the battery materials business by 2035.
- The company records 480 billion won in sales and 35.6 billion won in operating profit in Q2
- Cathode business accounts for 35% of the enterprise business, driving growth as a new flagship sector
- POSCO Chemical concludes an investment deal for a 60,000-ton cathode plant with Gyeongsangbuk-do and Pohang, accelerating investment
- Will build a global production system of 270,000 tons by 2025, with 160,000 tons from Korea and 110,000 tons overseas, aimed at becoming the world’s top-tier producer
- POSCO Chemical CEO Min Kyung-zoon said, “We will build the most competitive production base in the world and lead the K-battery industry.”
- Introduction of environmental performance including technological innovations in secondary cell materials in response to climate change
- Establishment of a safety management system and intensified corporate governance including the BOD, included as main achievements
- CEO Min Kyung-zoon stressed, “We will promote sustainability through technological development in secondary cells and bold investment.”
◈ Invested 217.7 billion won to build an artificial graphite anode plant
◈ POSCO CEO Choi Jeong-woo said, “The plant realizes Korea’s goal of becoming an industrial powerhouse, secures competitiveness of battery sector, and is an important breakthrough for the future growth of the group.”
◈ Domestic production of battery materials set to strengthen competitiveness in the battery industry
◈ Successful localization of key battery materials that extend battery life and enable faster charging