Transition to Future-Oriented Business Structures Such as Secondary Battery Materials, Presenting Growth Models and Leading Industrial Development
[Asia Economy Reporter Hwang Yoon-joo] POSCO Chemical has been recognized as a growth model for global material companies by the world's largest information analysis institution.
On the 14th (local time), POSCO Chemical was selected as a 'Rising Star' company at the '2021 Global Metals Awards' hosted by S&P Global Platts in London, UK. This is POSCO Chemical's first overseas award.
S&P Global Platts is the world's largest information analysis institution in the raw materials and energy sectors and is a subsidiary of S&P Global, a global financial services company that owns credit rating agency S&P Ratings and Dow Jones Indices, which operates the S&P 500 index.
The Global Metals Awards, held since 2013, selects companies with outstanding performance in 16 areas including leadership, raw materials, technological innovation, ESG (environment, social, governance), and social contribution among metal material companies worldwide, evaluated by experts in each field. Among these, the 'Rising Star' category is awarded to companies that have achieved remarkable results in new business areas based on financial growth, innovation, operational efficiency, and job creation.
POSCO Chemical expanded its business areas from existing industrial basic materials such as refractories to secondary battery materials and advanced chemical materials, presenting a growth model for global material companies. It was highly evaluated for entering various new businesses and creating added value and driving development in the upstream and downstream industries of metals and materials.
S&P Global Platts stated the reason for the award: "POSCO Chemical has continuously grown based on industry-leading business strategies and innovative technologies and has contributed to enhancing competitiveness in the rapidly growing secondary battery materials industry."
POSCO Chemical entered the anode material business in 2011 and succeeded in domestic production of core battery materials. In 2019, it merged with POSCO ESM, a cathode material company, becoming the only company in Korea to produce both cathode and anode materials together. Additionally, it has secured differentiated competitiveness and increased market share through next-generation material development proactively responding to the growth of the electric vehicle market, investment in expanding global mass production capacity, and the establishment of smart factories.
Through this, POSCO Chemical, marking its 10th year in the secondary battery materials business this year, achieved a transition to a future-oriented business structure, with the cathode and anode material business accounting for 44% of total sales in the second quarter, accelerating profit generation.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
