Market Chatter: Posco Group to Invest KRW16.7 Trillion in Lithium, Energy Through 2028

MT Newswires Live07-06

Posco Holdings (KRX:005490) subsidiary Posco Group plans to invest 16.7 trillion won through 2028 to expand its lithium, battery materials and energy businesses under its strategy to diversify beyond steel, Pulse News reported Friday, citing Chairman Chang In-hwa.

The company aims to generate 187 trillion won in revenue and 13.1 trillion won in operating profit by 2035 and plans to raise about 3.82 trillion won by reducing ownership in listed subsidiaries to nearly 50% to fund key resource projects, including its lithium operations in Argentina, the report said.

Posco Holdings currently holds 72.98% of Posco International (KRX:047050), 65.47% of Posco DX (KRX:022100), and 58.18% of Posco Future M (KRX:003670), it said.

Posco Group did not immediately respond to MT Newswires' request for a comment.

Shares of Posco International rose over 1% at market close, while those of Posco DX fell over 1%. Shares of Posco Future M declined nearly 2%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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