POSCO Chemical Changes Name to 'POSCO Future M'... Symbolizing Future and Materials

Combination of Future and Material, Change, Manager M Notation

POSCO Chemical is changing its company name to 'POSCO Future M'. Photo shows the new CI. Photo by POSCO Chemical

POSCO Chemical is planning to change its company name to 'POSCO FUTURE M.'

On the 24th, POSCO Chemical held a board meeting and approved the agenda for the shareholders' meeting to change the company name to 'POSCO FUTURE M.' The new name will be finalized at the regular shareholders' meeting on the 20th of next month.

'POSCO FUTURE M' combines the initials M from 'Future,' 'Materials,' 'Move,' and 'Manager' to intuitively express that it is a 'future materials company,' while also signifying POSCO Group's leadership in new future changes.

Additionally, as POSCO Group, which has been a pillar of the national economy through its steel business, is undergoing a major transformation into a 'leading eco-friendly future materials company' with the launch of its holding company last year, POSCO FUTURE M pledges to take the lead in POSCO Group's changes as a core business company.

Founded in 1971, POSCO Chemical's main businesses were basic materials such as refractories, lime calcination, and carbon chemicals, but recently it has expanded its portfolio to battery materials including cathode and anode materials, showing remarkable growth. In particular, based on the group-level full value chain construction, it is securing a clear competitive advantage in the battery materials business, while also strengthening eco-friendly future materials businesses such as hydrogen peroxide for advanced industries like semiconductors and displays, and eco-friendly activated carbon for water and air purification.

Meanwhile, at the board meeting, the nomination of internal and external director candidates was also approved. President Kim Jun-hyung and Planning Support Headquarters Director Yoon Deok-il were recommended as new internal directors, and Safety and Environment Center Director Kim Jin-chul and POSCO Holdings Eco-friendly Future Materials Team Leader Yoo Byung-ok were re-nominated as internal director and non-executive director, respectively. The internal and external director candidates, including re-nominated external directors Kim Won-yong and Lee Woong-beom, will be officially appointed through the regular shareholders' meeting.

POSCO Chemical also resolved to submit a 'change in dividend procedure' agenda to the shareholders' meeting, which involves deciding the dividend record date after finalizing the dividend amount. This aligns with global standards used in advanced financial countries such as the United States, France, and Germany, allowing investors to know the dividend amount in advance and make investment decisions, thereby promoting dividend investment and contributing to enhancing investor benefits.