Announced the performance and future vision of the secondary battery materials business… Accelerates group’s balanced growth by focusing on new growth businesses
Sales of Cathode · Anode materials business is expected to exceed one trillion Korean won this year… Maximizes synergy by establishing a value chain for all cycles, from producing secondary battery raw materials and cathode · anode materials to recycling
<2022 LiB Materials Business Value Day> was held in Singapore on the 7th for overseas investors
POSCO Group held <2022 LiB Materials Business Value Day> to reveal the role and growth goals of the holding company, and to introduce the performance and future vision of the secondary battery materials business.
About 150 people attended the event held at the POSCO Center on the 5th, including Jung-Seon Jeon, Team leader of Corporate Strategy (president) of POSCO Holdings, Byeong-Og Yoo, Head of the Green Materials & Energy Business Team (Senior Executive Vice President) of POSCO Holdings, Kyung-Seop Lee, Head of the LiB Materials Business Project Team (executive vice president), Dae-Heon Jung, head of Energy Material (Senior Executive Vice President), domestic and foreign institutional investors, and analysts of securities companies.
Since developing lithium extraction technology in 2010, POSCO Group has been striving to build a value chain for supplying secondary battery materials, such as △Cathode · anode materials business, △ Reinforcement of secondary battery materials business such as the acquisition of Argentina’s lithium salt lake, equity investment in Australian lithium·nickel and Tanzania graphite mines, △ Expansion of Secondary Battery Recycling business, and △ Establishment of next-generation secondary battery materials capabilities.
In particular, this event provided a virtual experience opportunity using the latest videos from global business sites such as salt lakes in Argentina, lithium and nickel mines in Australia, and POSCO HY Clean Metal to enhance the understanding of attendees.
Jung-Seon Jeon, Team leader of Corporate Strategy said, “Due to the steel-oriented business structure, POSCO Holdings’ stock price has shown a cyclical flow that repeats fluctuations in accordance with the steel market conditions. In order to move away from this trend and shift to an upward-facing growth graph, we will focus on new growth businesses such as secondary battery materials and hydrogen and accelerate the group’s balanced growth.”
Byeong-Og Yoo, Head of the Green Materials & Energy Business Team of POSCO Holdings, gave a presentation on ‘The past, present, and future of POSCO Group’s secondary battery materials business’. He said, “The business that we have fostered through preemptive technology development and investment over the past 10 years has begun to bear fruit. POSCO Group’s cathode and anode material business was only 38 billion won in 2015, but it is expected to exceed 1 trillion won this year.”
Dae-Heon Jung, head of Energy Material, then revealed the ‘Current status and strategy of cathode and anode materials business’. Cathode · Anode materials business has been solidly laying the foundation for growth based on POSCO Group’s raw material competitiveness and plans to secure competitive advantage and lead the market by △ developing cathode · anode materials for the next-generation secondary batteries, △ diversifying portfolio of products, △ establishing global production capabilities in North America, Europe, and China, and △ expanding strategic partnership.
In addition, Kyung-Seop Lee, head of the LiB Materials Business introduced the status of value chain establishment under the theme of ‘POSCO Group’s secondary battery materials business strategy’. POSCO Group is the only company in the world that establishes a value chain that produces and supplies materials for secondary battery materials such as lithium, nickel, and graphite, precursors, as well as cathode and anode materials and materials for next-generation secondary batteries. Through this, the company plans to establish a production and sales system of 610,000 tons of cathode materials, 320,000 tons of anode materials, 300,000 tons of lithium, and 220,000 tons of nickel by 2030 to achieve sales of 41 trillion won in the secondary battery material business alone.
In the future, POSCO Group aims to diversify its steel-oriented business structure and establish a growth structure in which sales and operating profit of steel, eco-friendly future materials, and eco-friendly infrastructure business sectors are balanced by 2030.
Meanwhile, POSCO Group held a <POSCO Group LiB Materials Business Value Day> for overseas investors in Singapore on 7th July and will continue to hold a briefing session in the form of Value Day to expand investor communication.