Located on opposite ends of the country, the Demilitarized Zone and the southeastern city of Pohang are emblematic of two contrasting features of the Korean Peninsula: the tension of a frozen conflict and the prosperity of South Korea as an industrial powerhouse. The DMZ stands as a stark reminder of the Korean War, while Pohang is a bustling coastal city of about 500,000 people, whose identity is deeply intertwined with heavy industry, particularly steelmaker Posco, which was founded there in 1

South Korean steelmaker Posco Group said Tuesday it plans to establish a comprehensive steel manufacturing facility in India in partnership with Indian steel giant JSW Group. The facility will incorporate core processes -- ironmaking, steelmaking and rolling -- aiming for an annual production capacity of 5 million tons. Odisha, located on India’s eastern coast, is currently being considered as the site for the facility, with plans for future capacity expansion, the company said. The joint

South Korean stocks rose more than 1 percent to hit a two-week high Monday led by a sharp rebound in top-cap Samsung Electronics shares. The Korean won gained against the US dollar. The benchmark Korea Composite Stock Price Index rose 29.16 points, or 1.13 percent, to 2,612.43, marking the highest closing price since Oct. 15 when the bourse finished at 2,633.45. Trade volume was slim at 327.6 million shares worth 9 trillion won ($6.5 billion), with winners outnumbering losers 615 to 271. Institu

South Korean steel giant Posco Group said Monday that it has received the highest grade in the 2023 Shared Growth Index Evaluation for five consecutive years. Earlier this month, the 80th Korea Commission for Corporate Partnership released the win-win index for 218 large-sized companies. The index encourages shared growth within the industry by measuring large enterprises’ efforts to make room for small and medium-sized enterprises. Posco scored highly for its clear and fair transaction pr

South Korean stocks started higher Monday on gains from semiconductor and battery shares. The benchmark Korea Composite Stock Price Index rose 14.75 points, or 0.57 percent, to 2,598.02 in the first 15 minutes of trading. Market bellwether Samsung Electronics added 1.61 percent, and its chipmaking rival SK hynix gained 0.75 percent. Leading EV battery maker LG Energy Solution increased 0.86 percent, while Posco Future M surged 3.74 percent. Top carmaker Hyundai Motor went up 0.67 percent, and it

Posco Holdings announced Sunday it has completed the first phase of its lithium hydroxide plant in Argentina, a key step in securing a stable supply of the key material for electric vehicle batteries. Located in Guemes, Argentina, the plant will produce 25,000 tons of lithium hydroxide annually, sourced from the lithium-rich Hombre Muerto salt flat, where Posco holds mining rights. The output is enough to power 600,000 EVs, making it the largest brine lithium facility operated by a single compan

South Korean steel giant Posco Group announced Wednesday that Chairman Chang In-hwa has joined the executive committee of the World Steel Association. The World Steel Association, consisting of 155 members ranging from global steelmakers to research institutes, aims to enhance profitability in the steel industry. Over the next three years, Chang will work on key issues such as low-carbon technology, the environment and safety. At the WSA executive committee meeting Sunday, leaders of the global

Posco Future M has started operations at its new plant in Pohang, North Gyeongsang Province, dedicated to producing nickel-cobalt-aluminum cathode materials for electric vehicle batteries. The plant, which shipped its first batch over the weekend, will help meet the growing demand for high-performance EV battery components. NCA cathode materials, with 88 percent nickel content, are key for making EV batteries more efficient. In January 2023, Posco Future M secured a 40 trillion won ($29.6 bill

South Korean stocks opened higher Friday as the country's central bank was set to hold a rate-setting meeting later in the day. The benchmark Korea Composite Stock Price Index rose 0.68 percent, or 17.55 points, to 2,616.71 in the first 15 minutes of trading. Investors' eyes are on the results of the Bank of Korea's monetary policy meeting to be held later in the day, where it is widely expected to start its rate-cutting cycle. Overnight, Wall Street lost ground amid mixed bets on

China’s CATL, the world’s largest battery maker for electric vehicles, is reportedly seeking a bigger footing in Korea, the home turf of its archrivals LG Energy Solution, Samsung SDI and SK On, and a crucial client, Hyundai Motor Group. According to industry sources, the Chinese company is reviewing setting up its Korean unit by upgrading the current office in Seoul that has been operational since 2011. The specific nature of the new operations has not yet been disclosed -- whether

Posco Future M CEO Yoo Byung-ok and US Ambassador to South Korea Philip Goldberg have discussed the importance of stabilizing supply chains as the Korean battery material and chemical producer struggles to cope with declining anode prices due to competition from China. According to Posco Future M on Tuesday, the US Ambassador visited the Korean company’s artificial graphite anode plant in Pohang, North Gyeongsang Province, the previous day. “Despite being the only alternative for sta

Posco Group Chairman Chang In-hwa underscored the urgent need for a "future-oriented strategy," during his address to executives at the 2024 Posco Forum, which took place at the Posco Global R&D Center in Songdo-dong, Incheon on Tuesday. Now in its sixth year, the theme of this year’s forum is "Navigating Crisis, Innovating for Future." Some 100 executives from the group's affiliated companies will convene for two days to gain insights from external experts and

Seoul shares fell by more than 2 percent Monday as investors remained on the sidelines ahead of the releases of key economic data in the United States later this week. The local currency ended at a 9-month high against the US dollar. The benchmark Korea Composite Stock Price Index dropped 2.13 percent, or 56.51 points, to 2,593.27. Trading volume was moderate at 352.4 million shares worth 10.5 trillion won ($8.03 billion), with losers outnumbering winners 708 to 181. Institutions and foreign inv

Seoul shares opened slightly higher Monday, led by gains in battery and steel shares. The benchmark Korea Composite Stock Price Index rose 0.05 percent, or 1.3 points, to 2,651.08 in the first 15 minutes of trading. Battery and steel shares led the overall gains, with industry leaders LG Energy Solution and Posco Holdings increasing 2.53 percent and 1.94 percent, respectively. Bio and internet service operators also added momentum. Samsung Biologics rose 0.91 percent, and top internet portal ope

The American Chamber of Commerce in Korea said Friday it has completed the five-day business trip to Washington DC held earlier this month, reasserting Korea-US economic partnership. The AmCham delegation comprising senior executives from key member companies, such as LG Energy Solution and Posco Holdings, met with US senators and representatives from 12 states and 10 US government organizations including the White House National Economic Council (NEC) and the Office of the Vice President. Throu