POSCO group jointly hosted the second CSIRO-POSCO Critical Minerals Forum 2026 with the Commonwealth Scientific and Industrial Research Organisation (CSIRO) on August 21.

The forum focused on feedstock and raw material technologies needed for the transition to low-carbon ironmaking. In September 2025, POSCO group and CSIRO signed a comprehensive memorandum of understanding (MOU) to collaborate on low-carbon ironmaking and critical minerals processing technologies. In October of the same year, they held the first forum, which focused on lithium refining technologies.

This year’s forum brought together POSCO Holdings, POSCO and Pusan National University from Korea, as well as CSIRO, Curtin University and Swinburne University of Technology from Australia. The event was held in a hybrid format, connecting Pohang, Seoul and Gwangyang in Korea with Perth, Brisbane, Melbourne and Sydney in Australia.

Participants shared the latest research findings through eight presentations on topics including the use of Australian iron ore for hydrogen-based reduction ironmaking and technologies for applying suitable feedstocks and raw materials. They also discussed differences in raw material requirements between conventional blast furnace operations and hydrogen-based reduction processes, the competitiveness of Australian iron ore for hydrogen-based reduction ironmaking, and ways to promote future Korea-Australia joint research.

“POSCO group is pursuing the transition to a low-carbon steel production system as a key priority, and research collaboration with Australia is essential to securing the feedstock technologies needed to support this transition. We will continue to work closely with Australia, which has abundant high-quality iron ore resources and world-class research capabilities,” said Dr. KIM Ki Soo, Head of POSCO N.EX.T Hub at POSCO Holdings.

“Building on Australia’s iron ore resources and research capabilities, CSIRO will work with POSCO to drive innovation in low-carbon ironmaking technologies. We hope this forum will serve as an opportunity to further advance technological cooperation between the two countries,” said Dr. Daniel Roberts, Research Director at CSIRO.

POSCO group plans to continue open collaboration with leading Australian research institutes and universities, including CSIRO, in low-carbon ironmaking and critical minerals, with the aim of strengthening its upstream technological competitiveness.

▲ The second Critical Minerals Forum was held in a hybrid format, connecting Pohang, Seoul and Gwangyang in Korea with Perth, Brisbane, Melbourne and Sydney in Australia. A view of the forum at POSCO Technical Research Laboratories in Pohang on August 21 (left) and the forum at CSIRO QCAT in Brisbane, Australia (right).

Demonstrates the value of public cultural spaces through collaboration among POSCO, POSCO E&C and POSCO A&C

POSCO A&C, which designed Park1538 Gwangyang, won the Platinum Award—the highest honor—at the prestigious international design competition A’ Design Award & Competition 2026, held in Como, Italy, on July 16.

▲ POSCO A&C won the Platinum Award at the international design competition A’ Design Award & Competition 2026 on July 16 for its design of Park1538 Gwangyang.

The A’ Design Award is an international design competition that recognizes outstanding designs from around the world. Held annually, it covers a wide range of fields, including product design, architecture, interior design, graphic design and fashion. This year’s competition was judged by a panel of 318 judges from 41 countries. Along with the Red Dot and iF Design Award, it is considered one of the world’s most influential international awards in design and innovation.

The Platinum Award is the competition’s highest honor, presented to works recognized for outstanding design quality, innovation and social impact. Park1538 Gwangyang received high marks for expressing the identity of the industrial city of Gwangyang as a public cultural space and integrating architecture, structure, technology and art within a single space.

Park1538 Gwangyang is a multipurpose cultural space operated by POSCO. POSCO A&C carried out the detailed design, while POSCO E&C handled the construction. The award is particularly meaningful as it recognizes the results of collaboration among POSCO group companies—from planning and design to construction and operation—on the global stage.

The name Park1538 Gwangyang combines “park,” meaning an open space without walls, and 1,538 degrees Celsius, the melting point of iron. By using iron—the symbol of the industrial city of Gwangyang—as a material for a new spatial experience, the project has been developed into a cultural space enjoyed by citizens and the local community.

▲ The exterior of Park1538 Gwangyang features a curved rib structure.

The building’s most distinctive feature is the curved rib structure* that wraps around the building. Beyond serving as an exterior element, the ribs also define the building’s structure, envelope and spatial framework. The vertical ribs, each with a different curvature and inclination, architecturally express the strength and flexibility of iron.

*Rib structure: An architectural structure in which reinforcing members, arranged at regular intervals like a skeleton or rib cage, support the structure and distribute loads.

A large mass* was placed above the lower level of the exhibition hall using a cantilever structure**. This creates both structural tension and a sense of openness. Approximately 4,400 tons of steel were used in the building, including POSCO’s premium structural steel product PosMAC.

*Large mass: A three-dimensional architectural element or spatial unit that is large in scale and perceived as a single solid volume.

**Cantilever structure: A structure fixed and supported at only one end, with the other end projecting into the air. It allows a space to be extended without columns or walls.

Public art elements are incorporated throughout the space. In collaboration with the Maintenance Technology Department at POSCO Gwangyang Works, POSCO repurposed crusher balls from the steelworks as planters. The front plaza also features Smart Light, a work by German artists Heike Mutter and Ulrich Genth.

▲ Park1538 Gwangyang reflects the concepts of waves of light and waves of nature.

The concept of waves of light, inspired by Gwangyang’s urban image, and the landscape concept of waves of nature are reflected throughout the space. The lower level was opened up to create a plaza-like public area, with an art museum, rooftop garden and Grand Stair. The project was also recognized for its high level of completion as a multipurpose cultural space where industrial facilities coexist with nature, art and education.

The award has drawn attention to Park1538 Gwangyang as an example of transforming an industrial facility into a cultural space open to citizens, rather than simply a corporate promotional venue. Its international recognition reflects the project’s ability to express the material qualities of iron and the identity of the local community through architecture, while harmoniously incorporating the technological expertise and spatial planning capabilities of POSCO group companies.

Park1538 Gwangyang currently operates a promotional hall and art museum, both of which offer free admission. Visitors can make reservations through the official website up to three days before their visit, while the outdoor spaces are open to the public without a reservation. Park1538 Gwangyang will continue to serve as an open cultural space that engages with and contributes to the local community.

In today’s global battery industry, success hinges on one critical factor: securing a stable and resilient supply chain that can withstand regulatory risks. As regulations in the United States and Europe emerge as major challenges for the industry, POSCO FUTURE M is turning those challenges into opportunities through its differentiated supply chain strategy. Following contracts worth KRW 670 billion to supply natural graphite anode materials to a global automaker, the company further demonstrated its competitiveness by signing a KRW 1 trillion long-term supply agreement for artificial graphite anode materials in March this year. These achievements are the result of years of effort to internalize the full value chain from raw materials and intermediates to finished products. We spoke with Yoo Seung-Jae, Head of the Anode Materials Research Center, about POSCO FUTURE M’s vision for an independent anode materials supply chain and the progress of its technology development.

PART 01

From Natural to Artificial Graphite: POSCO FUTURE M Advances Localization of Anode Materials

POSCO FUTURE M’s greatest strength lies in its differentiated portfolio, which enables the company to mass-produce and supply both natural graphite and artificial graphite anode materials in line with the rapidly evolving needs of the global battery market.

The anode of an EV battery is made by blending natural graphite and artificial graphite, and demand for artificial graphite anode materials has recently increased in response to the market shift toward higher performance and faster charging. Natural graphite anode materials, made from flake graphite mined from natural deposits, offer excellent energy storage capacity and cost competitiveness. Artificial graphite anode materials, produced through high-temperature heat treatment, provide superior structural stability, making them better suited for maximizing fast-charging performance.

By mass-producing both materials, POSCO FUTURE M can respond flexibly to changing market demand. In addition, the company is accelerating the commercialization of silicon anode materials for next-generation all-solid-state batteries and other advanced applications, further strengthening one of the industry’s most comprehensive portfolios. The company continues to demonstrate its global technological competitiveness, particularly by maximizing productivity through continuous process innovation.

These achievements are the result of long-term efforts to localize production. After successfully localizing natural graphite anode materials in 2011, POSCO FUTURE M completed its artificial graphite anode materials plant in Pohang in 2021, establishing an independent mass-production system. This localization and internalization of raw materials go beyond technological self-reliance and have become a distinct competitive advantage, enabling the company to offer customers one of the most stable supply chains in a global market increasingly exposed to geopolitical risks.

▲ In March, POSCO FUTURE M signed an MOU with Molten to jointly develop raw materials for natural graphite anode materials using methane gas.

POSCO FUTURE M is working with U.S.-based Molten* to develop natural graphite anode materials using raw materials that do not rely on mining. This initiative is meaningful because it moves beyond the conventional dependence on mined graphite and introduces a new approach to securing key raw materials by combining the two companies’ differentiated capabilities in raw materials and materials technology. Through this collaboration, the company expects to diversify its raw material supply chain, reduce costs, and strengthen its differentiated competitiveness in the global market.

* Molten: A California-based company with the world’s only technology capable of producing graphite through methane pyrolysis.

POSCO FUTURE M plans to reinforce its raw materials supply chain by combining Molten’s methane-based graphite production technology with its own anode materials manufacturing technology. Once Molten produces graphite through methane pyrolysis, POSCO FUTURE M’s subsidiary Future Graph will process it into spherical graphite, after which the Sejong plant will produce the final natural graphite anode materials.

Graphite produced from methane gas contains fewer metallic impurities than mined graphite, making it possible to significantly simplify the refining process. This could lead to substantial cost reductions in anode materials production. In addition, hydrogen generated as a byproduct during methane pyrolysis could be used for power generation or supplied to POSCO’s hydrogen reduction ironmaking process, creating synergies across POSCO Group.
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PART 02

Building an Independent “K-Anode Materials” Supply Chain Through POSCO Group Synergies

▲ Last year, POSCO International began developing the Mahenge graphite mine in Tanzania, the world’s second-largest graphite deposit by reserves.

Graphite is a key raw material for battery anode materials, but more than 90% of global supply is concentrated in one country, creating significant supply chain risk. As demand surges with the growth of the EV and ESS (Energy Storage System) markets, securing alternative supply sources has become essential. In response, POSCO Group has built a vertically integrated structure for its battery materials business by linking POSCO International’s raw material sourcing capabilities with POSCO FUTURE M’s materials production. Going forward, the Group plans to directly use graphite secured from Africa in anode materials production, thereby increasing raw material self-sufficiency and easing supply chain instability.

The greatest strength of POSCO Group’s battery materials business lies in its structure, which combines the Group’s raw material sourcing capabilities, cathode and anode materials technologies, and manufacturing process expertise. This enables the Group to provide global battery customers with both supply stability and competitiveness.

▲ POSCO FUTURE M is focusing on internalizing spheroidization and purification technologies for natural graphite anode materials. Source: POSCO FUTURE M

In particular, for natural graphite anode materials, dependence on a specific country is extremely high in the case of spherical graphite, an intermediate material produced by shaping mined graphite into round particles and increasing its purity. To respond to global supply chain regulations such as the U.S. Inflation Reduction Act (IRA), achieving technological self-reliance at this stage is essential.

To address this, POSCO FUTURE M is building a system in which graphite ore secured by POSCO Group in Africa and other regions is processed into spherical graphite at the Saemangeum plant of its subsidiary Future Graph and then sent to the Sejong plant, where it is turned into final natural graphite anode materials. Based on this localized supply chain, the company plans to supply products stably to global battery makers and automakers.

▲ In April, POSCO FUTURE M and Thai Nguyen Province held a preliminary event for the delivery of the Investment Registration Certificate (IRC) for the artificial graphite anode materials project in Vietnam.

Artificial graphite anode materials are essential for enabling fast charging and improving battery life, but dependence on a specific country remains high, making supply chain diversification an urgent priority. Vietnam offers outstanding cost competitiveness compared with other Southeast Asian countries thanks to lower investment costs, electricity rates, labor costs, and logistics expenses. It also has a stable power grid, strong industrial infrastructure, and favorable trade relations with key countries including the United States.

POSCO FUTURE M is investing approximately KRW 357 billion to build an artificial graphite anode materials plant in Thai Nguyen, an industrial city in northern Vietnam. Construction is scheduled to begin in the second half of this year, with mass production targeted for 2028. Depending on future orders, the site can be expanded in phases to reach a maximum annual capacity of 55,000 tons.

PART 03

From EVs to Emerging Industries: Next-Generation Silicon Anode Materials Technology

Silicon anode materials offer high capacity, making them well suited to extending EV driving range and shortening charging time. However, because silicon undergoes significant volume expansion during charging and discharging, it has traditionally been used in blends with graphite anode materials.

POSCO FUTURE M has successfully developed silicon anode materials with about five times the capacity of graphite-based anode materials while minimizing expansion through proprietary coating technology. Since May 2024, the company has been operating a demo plant to produce these materials and is currently in discussions with global customers regarding commercialization and the establishment of a mass-production system.

▲ A sample of POSCO Group’s silicon anode materials displayed at INTERBATTERY 2026.

Emerging industries such as humanoid robots, drones, and aerospace require batteries that minimize weight and volume while delivering high energy density and fast charging. Demand for silicon anode materials is expected to grow rapidly not only in robots and drones, where long operating time and fast charging are essential, but also in aerospace, where high output and reliability are critical. POSCO FUTURE M’s silicon anode materials offer greater capacity and better charging performance than conventional graphite-based materials, making them an ideal solution for applications with strict space and weight constraints.

▲ POSCO FUTURE M’s silicon anode materials demo plant in Pohang.

As Korea’s only producer of graphite-based anode materials, POSCO FUTURE M has successfully localized both natural graphite and artificial graphite anode materials and is now expanding its portfolio into next-generation materials such as silicon anode materials.

Based on 15 years of research, the company has developed a range of products applying proprietary technologies. Among them, its low-expansion natural graphite anode material improves material structure through a high-density spheroidization process, enhancing fast-charging performance while lowering the expansion rate and maintaining strong price competitiveness. Its uncoated low-temperature-calcined natural graphite anode material, meanwhile, helps suppress silicon expansion when blended with silicon anode materials, and demand for this product is expected to rise in line with the growth of the silicon anode materials market.

Building on these proprietary products and the competitiveness of its vertically integrated structure spanning raw materials, materials, and products, POSCO FUTURE M will continue to proactively respond to future battery requirements such as fast charging, high output, and high energy density. Through these efforts, the company aims to grow into a global top-tier anode materials solutions provider serving not only EVs but also emerging industries including robotics, drones, and aerospace.

Steel is the framework of the world and one of the great assets that has supported human civilization. Since iron first emerged as a material, humanity has been able to create things larger than ourselves and build the infrastructure essential to life. We have benefited enormously from steel. Yet today, the steel industry, long a pillar of national economies, stands at an unprecedented crossroads. What future awaits steel amid this upheaval? And what breakthrough strategy does POSCO have to overcome these challenges? Beyond the “age of fire” that helped lead human civilization, this is the story of steel as it overcomes crisis and is reborn.

The crisis now facing the steel industry is on an entirely different level from a simple economic downturn. This is because an unprecedented combination of risks is arriving all at once: structural oversupply led by China, protectionism and tariff barriers from the United States, and carbon regulations from the European Union (EU). This is what we call a Perfect Storm.

*Perfect Storm: A term referring to an enormous compound crisis in which individual adverse factors—such as oversupply, protectionism, and carbon regulation—overlap at the same time, dramatically magnifying their destructive impact.

These changes are not limited to Korea. In response to the worsening climate crisis, the global trend under the Paris Agreement is to expand the scope of carbon emissions beyond companies’ direct activities to include all indirect emissions, such as those from suppliers and the product-use stage—namely, Scope 3. As a result, steelmakers around the world are facing mounting climate-related pressure. This is why so many are urgently seeking a breakthrough to meet rapidly growing demand for low-carbon steel.

It’s really changing all aspects of our lives. It’s clear that we need to transform the whole society, not just how we produce things, but also how we use them and, for example, how our energy system works.

The first is to continue producing steel the conventional way the second is to seek a new path toward ‘decarbonization’

At this crossroads, there are two possible paths before us. The first is to continue making steel in the conventional way. In the short term, this may appear to be the easier option, allowing companies to avoid additional costs and respond to immediate goals. But the moment an innovative company emerges that has overcome the barrier of carbon regulation, those that chose this path will inevitably fall behind in the market.

The second is to take on the challenge of decarbonization transition head-on, in step with the global direction of environmental regulation. The massive investment required may be burdensome, but it is the only path that can secure leadership in the future market and achieve sustainable growth.

In the end, the choice is ours, and the future of the steel industry also depends on us.

Here are the people moving one step ahead to build the future of steel: the key figures leading POSCO’s Korean-style hydrogen reduction steelmaking project.

Hydrogen reduction steelmaking (HyREX) is a technology that uses hydrogen, instead of coal, as the reducing agent in the ironmaking process that produces molten iron, removing oxygen from iron ore. Unlike the conventional method, in which oxygen in iron ore combines with carbon and emits carbon dioxide (CO2), this process combines oxygen with hydrogen and produces water (H2O) instead of carbon dioxide.

The conventional blast furnace process—commonly referred to simply as the blast furnace method—became the global standard because it can produce large quantities of molten iron economically. However, it has inherent limitations, including air pollution and waste generation caused by the use of coal. By contrast, hydrogen reduction steelmaking can dramatically reduce carbon emissions compared with the conventional blast furnace process, making it a next-generation core technology that steelmakers around the world are racing to commercialize.

Building on its already commercialized FINEX process, POSCO is developing hydrogen reduction steelmaking technology based on a fluidized-reduction furnace. Many overseas steelmakers are developing shaft-furnace-based processes that require high-grade DR Grade pellets, which are made by processing iron ore into uniformly sized spherical forms. POSCO’s HyREX technology, by contrast, can use fine iron ore directly without additional processing, giving it strong cost competitiveness. It also offers the advantage of precise temperature control, helping secure high-quality reduction performance. To commercialize HyREX, POSCO’s dedicated task force is not limiting itself to in-house research, but is expanding its scope globally and seeking answers together with partners around the world.

I believe the hydrogen reduction ironmaking of the future will evolve into an integrated hub of hydrogen, energy, and steel. This will serve as a massive industrial catalyst, not only for Korea’s industries but for industries worldwide.

Even as companies carve out paths of innovation to achieve decarbonization, the successful decarbonization of the steel industry cannot be accomplished through the technological development of any one company alone. Looking back at history, every major transformation was supported not merely by the solitary efforts of individual companies, but by cooperation and support at the national level. The most representative example is the semiconductor industry. Korea stands today as a semiconductor powerhouse because, about 40 years ago, public-private cooperation laid the foundation.

In the early 1990s, the companies dominating the memory semiconductor market were mostly from the United States and Japan. To hold back Korean firms, they erected a high technological barrier in the form of patents. Korean companies faced tremendous difficulty overcoming it. At that critical moment, the government, companies, research institutes, and academia joined hands to form a consortium. This led to the large-scale industry-academia-research-government project behind the development of 64M DRAM in 1992, a landmark achievement in semiconductor history. That success became the decisive turning point that enabled Korea to secure leadership in the memory semiconductor market and establish its industrial foundation. It was a miracle made possible because the necessary foundation—capital, institutions, infrastructure, and talent—had been put in place. The same holds true for the decarbonization of the steel industry. For hydrogen reduction steelmaking to become reality, a robust hydrogen ecosystem must be established so that hydrogen itself can become economically viable.

As the European Union (EU) has begun imposing taxes on carbon emissions generated during production through the CBAM*, concerns are growing that as the rates continue to rise, Korean steel products may lose cost competitiveness by the mid-2030s, ultimately putting the vast European market at risk.

*CBAM(Carbon Border Adjustment Mechanism) : A system that imposes tariff measures based on the carbon emissions of imported products crossing a border.

The steel industry is not only important for past and present generations, but is also a vital industry for our descendants. For it to become a more sustainable industry, the entire nation and industry as a whole must come together.

Under these circumstances, there is an urgent need for long-term, government-level policy support so that companies can move forward with large-scale investments with confidence. For example, Germany is actively promoting GET H2, a major pipeline initiative to build a 5,100-kilometer network connecting hydrogen production sites and demand centers by 2030. Korea, too, must accelerate the development of a hydrogen infrastructure ecosystem in step with this global trend. Fortunately, as part of these efforts, the K-Steel Act—special legislation aimed at strengthening the competitiveness of the steel industry and supporting its carbon-neutral transition—passed the National Assembly plenary session last year, providing a legal foundation. In addition, the Korean-style hydrogen reduction steelmaking national R&D project has begun taking its first steps. These developments are expected to serve as important building blocks in designing a sustainable future for the steel industry.

Steel remains with us today in many different forms. So what form will steel take as it evolves in the future? Just as it did in the distant past, steel will continue to temper itself for the everyday lives of humanity far into the future. We hope you will continue to join us on this journey of The Evolution of Steel.

▼[The Evolution of Steel] View Full Version ↓

Exciting news has recently arrived. POSCO has signed a Joint Venture Agreement (JVA) with JSW Steel, India’s leading steelmaker, to construct an integrated steel mill. Grounded in a robust partnership, this collaboration aims to target high-profit markets in India and further strengthen the global steel supply chain. How did POSCO and JSW Steel come to join hands? Here is the behind-the-scenes story of this monumental partnership.

POSCO Signs Joint Venture Agreement with India’s Leading Steelmaker, JSW Steel

▲ POSCO signed a Joint Venture Agreement with JSW Steel, India’s No. 1 steelmaker, on the 20th to build an integrated steel mill. (From right) CHANG In Hwa, CEO of POSCO HOLDINGS; LEE Hee Guen, President of POSCO; Jayant Acharya, CEO of JSW Steel; and Sajjan Jindal, Chairman of JSW Group.

POSCO has officially embarked on constructing an integrated steel mill in India—a high-growth market with a population of 1.46 billion—by signing a Joint Venture Agreement (JVA)* with JSW Steel, the nation’s top steelmaker. The joint venture will be established on an equal partnership basis, with both companies holding a 50% stake each.

The new blast furnace-based integrated steel mill** will feature a comprehensive production system covering both upstream and downstream processes—including ironmaking, steelmaking, hot rolling, and cold rolling/galvanizing—capable of producing high-value-added premium steel. With an annual crude steel capacity of 6 million tons, the plant will be located in the state of Odisha,
securing a site adjacent to iron ore mines with excellent logistics, power, and infrastructure. Construction is projected to take 48 months from groundbreaking, with completion targeted for 2031.

* Joint Venture Agreement (JVA): A form of direct investment where a company partners with local capital to jointly operate and manage a business.
* Integrated Steel Mill: A steel plant equipped with all production stages, including ironmaking (producing molten iron), steelmaking (removing impurities), and rolling (manufacturing finished steel products).

A Perfect Match: How POSCO and JSW Group Share a Common DNA

In India, JSW Group enjoys a level of public recognition and influence comparable to POSCO in Korea, operating across a diverse range of business sectors. Just as POSCO runs professional football clubs like the Pohang Steelers and Jeonnam Dragons, JSW Group boasts immense financial power and cultural influence, even owning the Delhi Capitals, a team in India’s highly popular professional cricket league.

Notably, a special bond forged during a time of crisis connects the two companies. In 2022, Typhoon Hinnamnor caused severe flooding at Pohang Works, submerging key facilities. At that critical juncture, JSW Group generously offered POSCO a set of equipment they had ordered for their own hot rolling mill. This noble gesture significantly expedited the restoration of Pohang’s No. 2 Hot Rolling Mill, serving as a cornerstone for deep mutual trust between the two groups.

▲ (From left) POSCO Founder PARK Tae Joon, JSW Group Founder O.P. Jindal (Photo credit: POSCO group Newsroom DB, Wikimedia)

Beyond a mere business partnership, POSCO and JSW Group share deep-rooted commonalities in their founding spirits and management philosophies. JSW Group’s founder, Om Prakash Jindal (O.P. Jindal), dedicated his life to India’s industrialization. This closely mirrors the philosophy of Jecheol-boguk (제철보국, “Patriotism through Steelmaking”) championed by POSCO’s late founder and Honorary Chairman, PARK Tae Joon, which emphasizes serving the nation by producing high-quality steel. O.P. Jindal’s famous vision, “Where others saw walls, he saw doors,” strongly resonates with POSCO’s indomitable “Woo-hyang-woo” (Right-turn) spirit*, which overcame seemingly insurmountable obstacles through sheer determination.

* “Woo-hyang-woo” (Right-turn) Spirit: An indomitable spirit of challenge demonstrated by Honorary Chairman Park Tae-joon during the construction of Pohang Works. He motivated his team by saying, “If we fail to build this steelworks, which is funded by claims-settlement funds from Japan, we must all turn right (‘woo-hyang-woo’) and drown ourselves in the waters of Yeongil Bay,” burning all bridges to ensure success.

Sajjan Jindal, the current Chairman of JSW Group, was deeply inspired during his past visits to POSCO’s Pohang Works and Gwangyang Works, harboring a dream to “build a world-class steelworks like this in India.” In fact, JSW’s flagship Vijayanagar Steelworks was constructed with a layout and neighboring residential complexes remarkably similar to those of POSCO’s works.
Through years of accumulated trust and mutual respect, POSCO and JSW Group have finally joined hands as true partners to pioneer the future of the Indian steel market.

Why India? A High-Growth Market Driven by a Young Population

Why did POSCO choose the Indian market? While there are various reasons—such as a landmass 33 times larger than South Korea and a population exceeding 1.4 billion—the primary driver is the projected surge in steel demand. Growing at a rapid pace of nearly 6% to 7% annually, India is currently recognized as the fastest-growing major economy in the world.

Having surpassed China in population two years ago, India boasts a massive market scale. Notably, the median age of India’s population is exceptionally young at 28. This youthful demographic is a key driver that injects vitality into the consumer market and heightens its future growth potential.

The rising purchasing power of India’s younger generation is driving development across various industries. The automotive sector, in particular, is expanding rapidly. Currently ranking fourth globally in vehicle production, India’s automotive industry is growing so fast that it is expected to climb to third place in the near future. Additionally, the home appliance market—where Korean giants like Samsung and LG have a strong presence—is seeing increased demand due to rising income levels. In the construction sector, active development of new smart cities is also driving a steady increase in steel consumption.

Specifically, India’s steel demand, which stood at 90 million tons in 2015, has surged to 150 million tons in 2024, and is projected to reach 260 million tons by 2035. Today, India stands as the world’s largest steel market, second only to China.

Supporting this explosive demand is India’s abundance of natural resources. India ranks seventh globally in iron ore reserves (approximately 35 billion tons) and possesses rich reserves of coking coal, offering a significant advantage in raw material procurement. This resource wealth serves as a powerful springboard for India to achieve complete self-sufficiency in the steel industry and sustain long-term growth.

To Go Far, Go Together: Why POSCO and JSW Steel Joined Forces

Why did POSCO choose to enter India through a Joint Venture (JV)? Since 2004, POSCO had explored entering India’s upstream steelmaking sector on four separate occasions. However, these attempts faced hurdles, such as finding the right partner and securing land. The Indian market proved highly challenging for foreign enterprises to navigate independently. Drawing from these experiences, POSCO concluded that partnering with a strong local player was the most viable path forward.

In this regard, JSW Steel, India’s top steelmaker, was the perfect partner. JSW Steel has demonstrated remarkable growth in a short span, scaling its crude steel production from 2.2 million tons in 2005 to over 30 million tons today.

The foundation of any joint venture is trust. Reflecting this, the joint venture is structured as an equal partnership with a 50:50 shareholding split. This structure embodies a shared commitment to building the world’s finest steel mill by combining POSCO’s world-class technology with JSW Steel’s market leadership and local execution capabilities.

Amid rising global protectionism, the Indian government has also tightened measures to protect its domestic market. To safeguard its local steel industry, India has strengthened regulations on domestic production and mandated standard certifications for imported steel. Under these circumstances, the decision to form a joint venture with JSW Steel represents a proactive, strategic move to successfully navigate and establish a strong foothold in the Indian market.

There is an African proverb that says, “If you want to go fast, go alone; if you want to go far, go together.” In line with this wisdom, POSCO plans to combine its innovative steelmaking technology with JSW Group’s formidable local competitiveness, paving the way to make substantial contributions to the industrial development and economic growth of both nations.

Recently, POSCO proved its unrivaled steel material technology by becoming the first in Korea to obtain Korean Register (KR) certification for its new naval materials: high-ductility steel for naval vessels and armor steel for naval vessels. The application of these new materials is expected to drastically improve the performance of the Republic of Korea (ROK) Navy’s next-generation vessels. How were these steel plates, which withstand extreme water pressure and strong external impacts, born? We sit down with Lee Jae-ik and Lee Jin-woo, Principal Researchers at POSCO’s Steel Solution Research Group, to take a closer look at POSCO’s core competitiveness and future vision leading K-marine defense materials.

Lee Jae-ik: Hello. I research “application technology” to help our customers perfectly implement thin yet strong “high-strength steel” into their products. Recently, as reducing the weight of structural frames for carbon reduction has become a major topic, the demand for high-strength steel has increased significantly. However, as steel becomes stronger, welding becomes more difficult, and even after successful welding, the fatigue life of the joints often fails to match the strength of the steel itself. I solve this exact problem. My role is to dramatically extend the fatigue life of high-strength steel welded joints, providing optimal solutions so that customers can safely use lighter and stronger steel for a long time.

Lee Jin-woo: Nice to meet you. I am Lee Jin-woo, researching customized customer solutions at POSCO’s Steel Solution Research Group. Our group’s role does not end with simply making good steel. We provide a comprehensive “user manual” containing the optimal technology and guidelines so that the material can perform at 100% capacity at the customer’s site.

Currently, my main areas of focus are twofold. First is next-generation material solutions for land-based weapon systems and special vessels (surface combatants) that lead K-defense. Second is the heavy equipment and construction machinery sector. In particular, by applying the “extreme environment response technology” and “structural optimization know-how” accumulated in the defense sector to construction equipment, we create synergy to maximize the durability and efficiency of the equipment when our steel is applied. In short, my role can be described as a “technological bridge” that transforms raw materials into core components for high-tech industries.

▲ Conceptual rendering of a next-generation naval vessel applying new defense materials.

Lee Jin-woo: This KR certification is a decisive moment showing that the role of naval materials has evolved from simple “structural materials” to “core functional materials” that determine combat capability. It also demonstrates that Korea’s naval shipbuilding technology has entered a new dimension through material innovation. In modern warfare, where advanced weapons are becoming more sophisticated, the evolution of the hull that protects them is a necessity, not an option. POSCO’s new materials have secured both defensibility and mobility. By increasing elongation to 35% and impact absorption capacity by over 50%, we secured strong survivability, while reducing hull thickness by 30% to dramatically improve mobility and fuel efficiency. Our materials are completing the super-gap of K-defense as core functional materials supporting weapon systems. I am confident that this will serve as a solid foundation for POSCO to leap forward as a key partner in the global defense export market, going beyond being a “steel shield” for Korea’s next-generation vessels.

Lee Jin-woo: POSCO’s new naval materials are evolving in a direction to develop stronger and tougher steel materials so that submarines can operate safely deep under the sea. First, high-ductility steel, which applies technology that remains intact even when colliding with glaciers, stretches much better than conventional steel (35% elongation) while its capacity to absorb impact has become over 50% stronger. In addition, high-performance armor steel, which transplants solid ballistic technology from land-based weapon systems to the marine sector, maintains its strength while reducing the thickness of the steel plate by approximately 30% compared to existing ones. Reducing the thickness of the steel plate enables lightweighting of the hull, thereby improving both mobility and fuel efficiency. This advancement in material technology symbolizes a paradigm shift from structural materials to core functional materials, and will be POSCO’s core competitiveness to contribute to expanding K-defense exports and entering the global naval vessel market in the future.

Lee Jae-ik: Since they are used at sea, both general shipbuilding heavy plates and special steel for naval vessels require high reliability. However, the core purpose of the materials is different. General shipbuilding heavy plates focus on optimizing “economic efficiency and stability” according to the waves or temperatures of designated routes. On the other hand, marine defense materials, such as surface combatants and submarines, must perform operations in any ocean worldwide and survive extreme combat situations like shell hits or explosions. Therefore, they require the most stringent standards in existence. While general shipbuilding mainly uses “high-efficiency steel” with good work efficiency such as welding, marine defense uses “premium special steel” containing a large amount of special alloys to boast the highest level of strength and toughness. This is the biggest difference.

Lee Jae-ik: The pressure hull, which is the framework of a submarine, must maintain its original shape firmly without fatigue or cracking to protect the crew and sensitive equipment from intense water pressure, explosions, and impacts. To achieve this, steel must possess a combination of strength to withstand water pressure (yield strength), flexibility without breaking (elongation), impact absorption capacity (toughness), and ease of bending without heat (cold formability). Perfect welding that connects joints as strongly as the original steel plate and technology to eliminate post-welding stress are also essential.

For example, Japan’s Taigei-class submarines apply ultra-high-strength steel (NS110, yield strength of approx. 980 MPa) that withstands depths of 500 meters. The core technology here is overcoming the problem of reduced flexibility as steel becomes harder. On the other hand, Germany’s Type 212/214 submarines used “non-magnetic steel” that does not stick to magnets to avoid detection based on the enemy’s magnetic field, but because of the limitations in the material’s strength, their diving depth is limited to about 250 meters. Ultimately, for a submarine to survive intact in extreme crisis situations such as undersea collisions, torpedo evasion, or rapid surfacing, advanced steel materials that balance hardness and flexibility, along with reliable welding technology, must be supported.

Lee Jae-ik: To prove the reliability of submarine materials, we must go through three stages of evaluation. First, we quantify the basic alloy design and physical properties using fingernail-sized “micro-specimens.” Second, once the steel is produced, we manufacture “full-thickness specimens” to directly test the limits of strength and toughness of the base metal and welded joints. Finally, we conduct “structural mock-up testing,” assembling it similarly to an actual submarine shape. In this stage, we final-check residual stress generated during actual processing, fatigue life, and deformation during explosions. As a result, to develop a single steel material, hundreds of similar items are repeatedly verified double and triple, and only after passing this harsh process can we finally take responsibility for the submarine’s survivability.

Lee Jae-ik: That is the most difficult part of development. This is because a vicious cycle occurs where increasing the strength of the steel plate makes it weak against impact, and compensating for this warps the welding. POSCO is breaking through this difficult limitation with two innovations. We are researching to secure both strength and toughness simultaneously through advanced Thermo-Mechanical Control Process (TMCP) technology and fine microstructure control technology. Recently, technology that combines AI to find the optimal alloy ratio that captures both strength and toughness (flexibility) has been established. In addition, by package-developing the material and welding consumables as a single set from the beginning, we eliminated the trial and error of having to return to the starting point due to mismatching later, thereby dramatically shortening the overall development period.

Lee Jae-ik: Due to national security and diplomatic sensitivity, all technologies from design to operation in marine defense steel development are managed under strict security. Technology development is mainly carried out as national projects led by the Defense Acquisition Program Administration (DAPA), and the achievements belong to national assets. When a customer requests the development of general-purpose technology, development proceeds in the form of a “Joint Development Project (JDP).”

The most representative case is the “development of fatigue design technology for high-strength steel welded joints” project conducted in 2019 with Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) and the Korean Register (KR). The design was initially carried out by applying design technology transferred from Germany’s HDW, but we eventually pursued localization. Since then, the three organizations have cooperated to secure localized design technology. In the future, when localized welding materials and welding solutions are applied, it is expected that a self-production foundation for high-performance large submarines will be established.

Lee Jin-woo: POSCO develops next-generation naval materials by establishing an “Early Supplier Involvement (ESI) framework,” collaborating closely from the initial design stage with the special ship business divisions of the two major heavy industries, which are key communication channels for defense agencies. The KR certification of the newly developed materials was also achieved through collaboration with the Special Ship Business Division of HD Hyundai Heavy Industries and communication with defense agencies. Defense steel has the difficult challenge of simultaneously satisfying complex conflicting conditions such as protective performance, weldability, and on-site assembly alignment, beyond simple high strength. Therefore, during the collaboration process, we closely exchange opinions on manufacturing technology, component feasibility, special protective performance verification methods, and final specification (Spec-in).

This field-oriented, close technical exchange (Spec-in) allowed us to reflect the “reality of the field” early on, which is easy to miss in the laboratory, thereby compensating for the limitations of the laboratory unit early. Consequently, it is becoming a core competitiveness that overcomes the structural limitations unique to defense R&D, which usually takes more than 5 to 10 years, and enables actual naval application within a short period. POSCO proactively shared the operational concepts of weapon systems, coordinated required performance, and led the “simultaneous evolution of material and structural design.” This is a symbolic case showing why the current collaboration system is so important.

Lee Jin-woo: POSCO has established itself as a core foundation of the domestic shipbuilding and naval industries by proving global top-tier quality and mass production capability in the field of heavy plates for hull structures. In the field of next-generation special steel, we are continuing strategic challenges to surpass advanced military nations such as the US and Germany, which still lead in some areas. To this end, rather than simply chasing technology, we are pursuing a strategy to build “POSCO’s unique independent development model” where “material development, manufacturing technology, and vessel design” move like a single organic body by establishing a “close joint research system” with national defense research institutes and special ship design departments of shipyards. We believe that this value chain-integrated collaborative ecosystem will be the most powerful core competitiveness for POSCO to leap forward as a first mover leading the paradigm of next-generation naval material technology in the future.

▲ Conceptual rendering of a submarine. (Image source: my posco)

Lee Jae-ik: Analyzing the aspects of modern warfare, such as the recent war in Ukraine, the paradigm of future submarine steel technology can be summarized as “expansion of unmanned systems” and “extreme stealth” such as stealth performance. To apply to unmanned drones that will disperse the risks of manned submarines, a higher level of high-strength steel is essential, and neighboring countries like Japan are also secretly continuing to improve material performance. In response to this, Korea must also move toward developing “ultra-high-strength steel” that withstands deeper seas, larger hulls to increase weapon payload, and “high-strength non-magnetic steel” that fundamentally blocks the enemy’s magnetic detection in shallow waters. Ultimately, we believe that the high-functional special steel equivalent to or surpassing that of neighboring countries, and the advancement of welding and processing technologies to perfectly implement it, are the clear future directions we must preoccupy.

Lee Jae-ik: Ultra-high-strength steel, which completes the “stealthiness” that is the life of a submarine, has doubled in strength compared to 50 years ago, turning what was once a “dream material” into reality. The important point is that these cutting-edge defense technologies will expand to civilian industries in the future, such as lightweighting ships and reducing carbon emissions, serving as a solid foundation to lead the upcoming low-carbon, high-strength steel era. I will make sure POSCO plays a leading role in that.

Lee Jin-woo: I believe that material innovation has true value when applied in the field, rather than remaining as an achievement in the laboratory. POSCO has turned that value into reality through close collaboration with partners such as shipyards and research institutes, as well as research, production, quality, and marketing. Going forward, we will continue to enhance the competitiveness of next-generation naval materials based on accumulated technology and execution capability. I want to responsibly contribute to laying the foundation for Korea’s defense material technology and securing global competitiveness.

POSCO Investment makes its first overseas CVC investment in the low-carbon steel sector

On April 28, POSCO announced the signing of a joint development agreement with Electra of the United States to develop low-carbon ironmaking technology.

Founded in Colorado in 2020, Electra possesses proprietary technology that produces solid iron by removing impurities from iron ore through electrochemical reactions. The company is currently constructing a pilot plant with an annual capacity of 500 tons, aiming for operation within this year.

Through this agreement, the two companies plan to combine POSCO’s direct reduction technology with Electra’s low-carbon ironmaking system to jointly verify technical and economic feasibility for commercial production.

“POSCO brings deep experience in steelmaking, production technology and process development,” said Sandeep Nijhawan, Electra’s co‑founder and chief executive officer. “We’re building for the long term, and this partnership helps us scale thoughtfully as we bring clean iron to more customers.”

Eom Kyeong-geun, Head of POSCO Technical Research Laboratories, explained, “This partnership through the joint development agreement aims for strategic synergy between POSCO’s proprietary direct reduction and engineering technologies and Electra’s innovative electrochemical process.”

On the same day, POSCO Investment also announced a CVC investment agreement with Electra.

Kim Keun-hwan, President of POSCO Investment, stated, “This investment marks our first overseas strategic CVC investment in the decarbonized steel sector. It holds special significance as a climate-tech investment in preparation for the era of decarbonization.”

▲ POSCO and POSCO Investment sign a joint development and investment agreement with Electra to collaborate on technical validation for commercial production. (From left) Eom Kyeong-geun, Head of POSCO Technical Research Laboratories; Sandeep Nijhawan, CEO of Electra; and Kim Keun-hwan, President of POSCO Investment.

Providing integrated solutions that encompass procurement, sourcing, contracting, and risk management between headquarters and overseas subsidiaries

POSCO Group has established an Integrated Procurement Center in Shanghai, China, and has officially commenced its operations.

The opening ceremony, held on April 14, was attended by Lee, Yu-kyung, Head of Corporate Procurement Division; Lee, Seung-gi, Head of Plant, Equipment and Materials Procurement Office; and Lee, Won-chul, Representative of POSCO China (POSCO HOLDINGS). They were joined by representatives from 13 key local suppliers, including Ouyeel, Baowu Resources, and Sinosteel, as well as Lee, Do-an, Consul General of the Republic of Korea in Shanghai.

The establishment of this Integrated Procurement Center is a preemptive measure to respond agilely to the rapidly changing global supply chain environment.

China has been recognized as a core procurement hub where high-performing suppliers continue to grow. By establishing the global Integrated Procurement Center in Shanghai, POSCO Group plans to strengthen cooperation with excellent local suppliers and thereby enhance its global supply chain competitiveness.

The Integrated Procurement Center will also serve as a platform connecting the headquarters with overseas subsidiaries. Moving beyond simple purchasing functions, it is characterized by providing integrated solutions that encompass sourcing, contracting, and risk management.

Through this, the group plans to build a robust supply chain by linking its global network—including the Pohang and Gwangyang Steelworks in Korea as well as operations in Indonesia, Vietnam, and Argentina—and proactively propose the introduction of new products and technologies.

Lee, Yu-kyung, Head of Corporate Procurement Division, stated on that day, “The Integrated Procurement Center is a significant milestone that will elevate POSCO’s global procurement competitiveness to the next level. Through close cooperation with excellent local suppliers, we will secure cost competitiveness and build a robust supply chain to support the sustainable growth of POSCO Group.”

▲ The POSCO China Integrated Procurement Center held an opening ceremony in Shanghai, China, on April 14 and officially commenced operations.

CES 2026, the world’s largest technology trade show, has come to a close—and this year, one theme stood out above all others: robots. From humanoids and quadrupeds to sports and healthcare applications, robotics was everywhere on the show floor, signaling that the era of Physical AI—where AI and robotics come together in the real world—is quickly taking shape.

With Jae-bum Park, Senior Researcher at POSCO Research Institute, we look at what CES 2026 revealed about the future of robotics and where POSCO Group’s strengths could create new opportunities in this fast-growing industry.

Powering the Energy Transition: Robots Were Everywhere at CES 2026

At this year’s CES, robots were impossible to miss. Even in booths hosted by companies not traditionally associated with robotics, robot-related technologies appeared throughout the exhibition. The message was clear: AI-powered robots are moving beyond demonstrations and entering everyday life and industrial environments.

One of the most talked-about exhibits was Atlas, the humanoid robot presented by Boston Dynamics, Hyundai Motor Group’s robotics affiliate. Equipped with 56 degrees of freedom (DoF), Atlas demonstrated highly flexible movement and the ability to handle heavy-duty tasks involving loads of more than 50 kilograms—offering a glimpse of its potential in real industrial settings.

The exhibition also introduced a collaboration case involving POSCO and Boston Dynamics. On screen, Spot, Boston Dynamics’ quadruped robot, was shown moving through high-temperature facilities at a POSCO steelworks. In a noisy and heat-intensive environment, Spot was able to detect gas leaks and carry out precise inspections of equipment and infrastructure. The scene offered a compelling look at how robots are evolving from crowd-pleasing exhibits into reliable co-workers on industrial sites.

Another exhibit that drew attention came from Korean company Bodyfriend, which showcased a massage chair designed to feel almost like wearing a robotic suit. Its wearable AI healthcare robot, with independently moving arms and legs, attracted strong interest for its ability to analyze and stretch the user’s joints.

Robots were also making an impact in sports. Table tennis robots and combat robots once again proved popular with visitors, while sports robots introduced by Chinese companies such as Unitree and others showed just how far the technology has advanced. Some were able to analyze an opponent’s movements and track the trajectory of a ball in real time, providing highly detailed coaching.

Degrees of Freedom: What Makes Robot Movement More Sophisticated

As CES 2026 made clear, robot movement is becoming increasingly refined as technology advances. One term that many robotics companies use when discussing precision and flexibility is DoF, or Degree of Freedom. In simple terms, DoF refers to the number of joint axes a robot can move or control.

Generally speaking, the higher the DoF, the more independently controllable joints a robot has. This is particularly important for humanoid robots, which are expected to move in ways that resemble the human body. Industrial robot arms used in automated manufacturing processes typically have around 6 DoF, while humanoid robots usually range from 30 to 60 DoF. With 56 DoF, Boston Dynamics’ Atlas is close to the level required to mimic full-body human joint movement.

That said, increasing DoF also means adding more components such as motors, reducers, and sensors. In other words, the more sophisticated the movement, the higher the production cost. That is why robotics companies carefully design and allocate DoF based on each robot’s purpose and application.

Why Actuators Matter

An actuator is the drive unit that physically moves a robot’s joints. It can be understood as a complete joint system that combines a motor, reducer, sensor, and control circuit.

A motor on its own produces rotational motion. But for a robot arm to extend in a straight line or bend with precision, rotational movement alone is not enough. By integrating gears and electronic controls, an actuator enables more complex forms of motion, including both rotational and linear movement. If a motor is like a muscle cell, an actuator is the complete muscular joint that allows a limb to move in a controlled way.

For a humanoid robot with 56 DoF, roughly 56 precision actuators are needed.

Why Hyper NO Matters in the Age of Robotics

Electrical steel is also a critical material in motor manufacturing, accounting for roughly 20% to 30% of total motor production cost. This is especially important in robot motors, which must generate high output despite their compact size. In many cases, the performance of the electrical steel used inside the motor directly affects the motor’s overall efficiency and output.

To achieve better performance, the steel sheet must be made as thin as possible. If it is too thick, eddy currents* can form inside the material, causing energy loss in the form of heat.

*Eddy currents are swirling electric currents generated by electromagnetic induction when the magnetic field around a conductor changes rapidly.

POSCO’s high-performance electrical steel, Hyper NO, is designed to maximize magnetic performance even at extremely thin, paper-like thicknesses. The thinner electrical steel becomes, the more difficult it is to manufacture. In fact, only about five to six steelmakers worldwide, including POSCO, are capable of stably mass-producing electrical steel at the Hyper NO level. That makes it a strategic material with high technological barriers to entry—and an increasingly important one in the era of robotics and electrification.

Energy and Materials Will Help Power the Humanoid Robot Era

No matter how advanced a robot’s movement may be, it cannot function properly without enough energy. Today, humanoid robots typically operate continuously for only about two to four hours, making battery technology one of the biggest limiting factors in the industry.

At CES 2026, swappable battery systems emerged as a notable trend aimed at addressing that limitation. Boston Dynamics’ Atlas, for example, is known to operate continuously for around four hours, and it is even equipped with a function that allows it to replace its own battery when power runs low.

Tesla CEO Elon Musk recently predicted that there could be 10 billion humanoid robots within 25 years. If production reaches that scale, demand for actuators would rise into the hundreds of billions, making growth in demand for high-performance electrical steel almost inevitable. Once replacement demand is taken into account, the number of batteries required could also reach into the tens of billions.

This would also drive a sharp increase in demand for lithium, one of the key raw materials used in batteries. From this perspective, POSCO Group’s high-performance electrical steel technology and lithium assets are likely to draw growing attention as the robotics market continues to expand.

As robotics moves closer to real-world adoption, the future of the industry will depend not only on software and AI, but also on the materials and energy technologies that make advanced movement possible. In that future, POSCO Group is well positioned to play an important role.