POSCO Group maps out resource-led strategy, targets $127.8 bil. sales by 2035

POSCO Group unveiled a long-term strategy to accelerate sustainable growth by expanding beyond steel into critical resources.

Speaking at the company's CEO Investor Day event in central Seoul on July 2, Chairman Chang In-hwa outlined a three-pronged strategy centered on steel, strategic resources and energy resources.

He said the company aims to position itself as Korea's leading supplier of critical resources.

"Now is the time to create new growth opportunities through bold innovation of our business portfolio as supply chain instability and the acceleration of the low-carbon transition intensify external uncertainties," Chang said.

"We will expand the scope of our business from steel and materials to resources and lead efforts to strengthen the nation's industrial security and supply chains." He said the group seeks to achieve 187 trillion won ($127.8 billion) in revenue and 13.1 trillion won in operating profit by 2035.

The group aims to increase its annual lithium production capacity to 173,000 metric tons by 2033, positioning itself among the world's top five lithium producers, while ...