'POSCO Future M Selected as One of Asia's Top Innovative Companies in Their 30s Leading the Future'

Recognition of Achievements in Future-Oriented Business Structure through Expansion of Secondary Battery Material Business

POSCO Future M announced on the 28th that it has been selected for the ‘2024 FORTUNE Asia Future 30,’ which was announced for the first time this year by the economic magazine FORTUNE Asia.

The FORTUNE Asia Future 30 refers to the top 30 companies with innovation and vitality leading long-term growth among about 700 companies in the Asia-Pacific region with sales or market capitalization exceeding 10 billion dollars. The Boston Consulting Group Henderson Institute evaluated companies using AI machine learning that repeatedly learned growth indicators and data. They analyzed 19 evaluation factors in four areas: strategy, technology and investment, human composition, and financial structure, including investment, research and development (R&D) performance, human composition, and financial outlook.

The 30 companies included Alibaba Health Information Technology, BYD, NIO, and EVE Energy in the eco-friendly, AI, and electric vehicle sectors. Among domestic companies, POSCO Future M, Naver, Celltrion, and Kakao were named.

POSCO Future M explained that it was recognized for expanding its fields from refractory materials, which are basic industrial materials, to various new businesses such as secondary batteries and advanced chemical materials, achieving a transition to a future-oriented business structure and establishing a foundation for sustainable long-term growth.

On the 27th, at the Rosewood Hotel in Hong Kong during the 'Fortune Innovation Forum,' Clay Chandler, Editor of Fortune Asia (from the left), Sun Juhyun, Head of POSCO Asia, and Fang Luan, Managing Partner of Boston Consulting Group Hong Kong, are taking a commemorative photo. Photo by POSCO Future M

POSCO Future M entered the anode material business in 2011 and succeeded in domestic production of core battery materials. In 2019, it merged with POSCO ESM, the group’s cathode material company, becoming the only company in Korea to produce both cathode and anode materials together.

It is securing differentiated competitiveness and increasing market share through next-generation material development, expansion of global mass production capacity, and smart factory construction. Through this, sales increased by about 220% in four years, from 1.4838 trillion won in 2019 to 4.7599 trillion won last year.

Yoo Byung-ok, CEO of POSCO Future M, said, "We will accelerate innovation together with all executives and employees to continue growing as a material company that can open the future."