New Name 'POSCO Future M' Officially Launched as an Eco-Friendly Future Materials Company

Approval of Company Name Change at the General Meeting on the 20th
Eighth Name Since Founding in 1971
Commitment to Material National Defense Beyond Steel Production
Kim Junhyung Appointed as CEO

On the 20th, POSCO Chemical officially launched under the new company name ‘POSCO FUTURE M’.

At the shareholders' meeting held at the Pohang headquarters on the same day, POSCO Chemical confirmed the name change to POSCO FUTURE M and appointed President Kim Jun-hyun as CEO.

The new name embodies the meaning of ▲leading the world's changes (Movement) through ▲competitive materials (Materials) and ▲playing a leading role (Management) in creating a prosperous future (Future). It also reflects the commitment to achieve the great mission of 'material patriotism' by supplying the highest quality materials needed by the future nation, centered on POSCO FUTURE M, just as the POSCO Group contributed to the national economic development with the spirit of 'steel patriotism' in resource-poor Korea.

CEO Junhyung Kim Photo by POSCO Future M

POSCO FUTURE M is the eighth name the company has adopted since its founding in 1971, spanning half a century.

This name change clearly expresses the intention to transform into an eco-friendly future materials company as a core future business of the POSCO Group. It comes exactly four years after the merger with POSCO ESM, which handled the cathode materials business, and the name change from POSCO Chemtech to POSCO Chemical in 2019.

At the name change declaration ceremony, Kim Jun-hyun, CEO of POSCO FUTURE M, said, “Over the past half-century, our company has driven national economic development as a strong partner in the steel industry through various materials, and accordingly, the company name has gradually changed to reflect the spirit of the times and our mission.”

He added, “Let us start the journey to achieve the vision of becoming a ‘global leading company in chemical and energy materials’ and successfully build a new future as a 100-year company by renewing our name.”

POSCO FUTURE M is responsible for the secondary battery materials business among the group’s seven core businesses (steel, secondary battery materials, lithium·nickel, hydrogen, energy, construction·infrastructure, food). Under the group’s future strategy, POSCO FUTURE M shifted its business portfolio from basic materials to battery materials by entering the anode materials business in 2010.

As investment results in the battery materials business became visible, the company achieved a record high sales of KRW 3.3019 trillion last year. Of this, about KRW 2 trillion came from battery materials, surpassing half of total sales for the first time. With the expansion of domestic and overseas business sites and continuous recruitment of excellent talent, the number of employees grew 43% from 1,707 in 2019 to 2,448 in 2023, showing growth in both scale and performance.

At the shareholders' meeting and board meeting held on the same day, POSCO FUTURE M also appointed new internal and external directors to lead the company. Following the appointment of President Kim as CEO, Yoon Deok-il, Head of Planning Support Division, was newly appointed as an internal director; Kim Jin-chul, Head of Safety and Environment Center, was appointed as an internal director; Kim Won-yong and Lee Woong-beom were appointed as external directors; and Yoo Byung-ok, Head of POSCO Eco-friendly Future Materials Team, was reappointed as a non-executive director.