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POSCO Chemical Wins Rising Star Awards at S&P Global Platts Global Metals Awards
2021.10.15
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POSCO Chemical has been named a “Rising Star” by S&P Global Platts at the Global Metals Awards 2021. The picture shows the plaque given to POSCO Chemical.
- POSCO Chemical was recognized for securing competitiveness by developing next-generation materials and expanding its mass production capacity in response to the growth of the electric vehicle market.
POSCO Chemical has been recognized as a growth model for global materials companies by the world's largest information analysis agency.
At the Global Metals Awards, which took place in London, U.K. on the 14th, local time, hosted by Standard & Poors Global Platts, POSCO Chemical made it to the “Rising Star Companies” category. POSCO Chemical's inclusion in the category marks the first time the company has won an award overseas.
Standard & Poors Global Platts is the world's largest information analysis agency working in the raw materials and energy sectors. It is a subsidiary of the global financial services company S&P Global, which owns, among others, credit rating agency S&P Ratings and Dow Jones Indices, which operates the S&P 500 index.
Since 2013, the Global Metals Awards have been evaluating and selecting companies from around the world who operate in the field of metal materials and that show outstanding performances. Evaluations are performed by experts across a total of 16 categories, including leadership, raw materials, technological innovation, ESG, CSR, etc. Among those categories, the “Rising Stars” category selects from among companies that have yielded outstanding results in new business areas based on performance criteria such as financial growth, innovation, operational efficiency, and job creation.
POSCO Chemical was rated highly for presenting a growth model to materials companies across the world by expanding its areas of business from basic industrial materials, such as refractory materials, to secondary battery materials and advanced chemical materials, as well as for leading the advancement of and creating added value for industries adjoining the front and rear ends of the metal and materials industries by embarking on a variety of new business projects.
Standard & Poors Global Platts offered the reason for having named POSCO Chemical a Rising Star, saying, "POSCO Chemical has been growing continuously based on industry-leading business strategies and innovative technologies and is also contributing to improving the competitiveness of the rapidly growing battery and materials industries.”
POSCO Chemical entered the anode business in 2011 and subsequently succeeded in localizing the core materials used for making batteries, and in 2019, by incorporating cathode maker POSCO ESM, it became the only company in South Korea that produces both cathodes and anodes. In addition, the company is also securing a distinguished competitive edge and increasing its market share through such efforts as developing next-generation materials in a proactive response to the growth of the electric vehicle market, investing in expanding its global mass production capacity, and building smart factories.
Through those efforts, in the second quarter of this year, which marks 10 years since POSCO Chemical entered the rechargeable battery material business, the company achieved a switch to a future-oriented business structure where its anode and cathode business has become its core business, accounting for 44% of its total sales, thereby accelerating its profit-making.
In addition, by securing materials, such as lithium, nickel, and graphite, in conjunction with POSCO Group and by entering the battery recycling business, POSCO Chemical has completed a value chain ranging from raw materials to material production. The company has also successfully entered the advanced chemical materials business, which involves materials such as pitch, which is a raw material for coating anodes, needle coke, which is a raw material for electrode rods used for electric furnaces, and hydrogen peroxide, which is a core material for semiconductor processes.
Meanwhile, at the Global Metals Awards 2018, POSCO became the first South Korean company to win in the Steel Industry Leadership and also won the grand prize by scoring the highest total among all metal companies. It also won in the Steel Industry Leadership category in 2020 as well.
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