Choi Tae-won and Choi Jung-woo Reunite After One Year... Volunteer Activities at Pohang Steelworks

Choi Tae-won Visits Pohang Steelworks... Volunteer Activities After Lunch
Possibility of Discussing Cooperation in Electric Vehicle and Hydrogen Businesses

[Asia Economy Reporter Hwang Yoon-joo] SK Group Chairman Chey Tae-won and POSCO Group Chairman Choi Jeong-woo are meeting again after more than a year. The two are expected to discuss cooperation plans related to hydrogen and electric vehicle materials, hydrogen business, and ESG (Safety, Social, Governance) management.

According to POSCO and SK on the 28th, Chairman Chey Tae-won and Chairman Choi Jeong-woo will participate in volunteer activities tomorrow morning at POSCO's Pohang Steelworks. After having lunch together, they plan to tour the production site and carry out volunteer work together.

SK and POSCO are strengthening the value chain for electric vehicles and hydrogen businesses. SK is expanding its electric vehicle battery business through SK Innovation and has entered the silicon carbide (SiC) power semiconductor market, considered an essential part for hydrogen and electric vehicles, through SK Inc.

POSCO supplies cathode and anode materials, key components for electric vehicle batteries, to the three major domestic battery companies through POSCO Chemical, and recently launched the eco-friendly vehicle integrated brand 'e Autopos'.

Both companies are also accelerating their hydrogen businesses. SK launched the 'Hydrogen Business Promotion Team' to expand the hydrogen industry value chain and is actively exploring related businesses. POSCO has also presented a vision to lead the decarbonization era by establishing a hydrogen production system of 5 million tons by 2050.

Above all, both leaders have long emphasized the importance of ESG (Safety, Social, Governance) management under the banners of 'social value' and 'corporate citizenship,' respectively. In this regard, Chairman Chey Tae-won visited the POSCO Center in 2019 and gave a lecture emphasizing that companies must actively engage in solving social issues.