POSCO FUTURE M

- Recognized as one of the top 30 innovative companies in Asia poised for future growth

- Acknowledged for achievements in expanding the battery materials business and establishing a sustainable and future-oriented business structure

POSCO Future M has been recognized as one of Asia's top 30 innovative companies that are leading future growth.

The "2024 FORTUNE Asia Future 30" is an initiative by FORTUNE Asia, a global business magazine, which identifies the top 30 companies from among over 700 companies in the Asia-Pacific region, each with revenues or market capitalization exceeding 10 billion dollars, for their innovation and vitality leading to long-term growth.

The BCG Henderson Institute, a global consulting firm, Boston Consulting Group, evaluated and selected companies using AI machine learning that iterated through growth indicators and data. The analysis systematically evaluated 19 criteria across four areas: strategy, technology, investment, human resources, and financial structure. Specifically, it delved into aspects such as investments, R&D outcomes, team composition, and financial forecasts, significantly enhancing the credibility of these companies' long-term growth potential assessments.

This year's list, announced for the first time, includes companies from the eco-friendly, AI, and electric vehicle sectors, such as Alibaba Health Information Technology, BYD, NIO, and EVE Energy. Among the Korean companies listed were POSCO Future M, Naver, Celltrion, and Kakao.

POSCO Future M has been acknowledged for transitioning into a future-oriented business structure by expanding its field from basic industrial materials like refractories to various new businesses, including secondary batteries and advanced chemical materials, laying the foundation for sustained long-term growth.

The award ceremony was held on the 27th at the ‘FORTUNE Innovation Forum’ at the Rosewood Hotel in Hong Kong.

Since entering the anode material business in 2011, POSCO Future M has achieved the domestic production of crucial battery materials. In 2019, it merged with POSCO ESM, an anode material company within the group, becoming the only company in Korea to produce both cathode and anode materials. Additionally, through developing next-generation materials, expanding global production capabilities, and establishing smart factories, the company has secured a competitive edge and increased its market share in response to the electric vehicle market growth.

As a result, the company's revenue, which was 1.4838 trillion won when it first entered the cathode material business in 2019, increased by approximately 220% to 4.7599 trillion won in 2023, continuing its growth trajectory.

Yoo Byeong-og, President of POSCO Future M, stated, "Being recognized as an innovative company leading growth in the competitive Asian market among leading companies in various fields is a testament to our strength. We will accelerate innovation with all our employees to continue growing as a material company that opens the future."

Furthermore, in 2021, POSCO Future M was selected in the 'Rising Star' category at the Global Metals Awards organized by S&P Global Platts, the world's largest information analysis institution in the field of raw materials and energy, recognizing it as a next-generation leader driving the development of the global electric vehicle and energy industries.