Um Gi-cheon, President of POSCO Future M, "Love calls flood in due to de-Chinaization... aiming to double sales"

New Inside and Outside Directors Appointed at Shareholders' Meeting on the 24th
"Aiming to Become a Global Top 3 Secondary Battery Company"

Um Ki-cheon, appointed as CEO of POSCO Future M, revealed that global companies are showering the company with love calls due to the battery supply chain's de-Chinaization. CEO Um expressed confidence in the company's future path and goals, aiming to achieve more than double the sales of last year by 2027.

POSCO Future M held its 54th regular general meeting of shareholders on the 24th, where it approved key agenda items including the appointment of internal and external directors. Eom Gi-cheon, president of POSCO Future M, was appointed as CEO at the regular shareholders' meeting and the subsequent board meeting. Photo by POSCO Future M

POSCO Future M announced on the 24th that it held the 54th regular shareholders' meeting, where it resolved key agendas including the appointment of inside and outside directors. On the same day, CEO Um was appointed as a new inside director at the shareholders' meeting and subsequently appointed as CEO at the board meeting. Jeong Dae-hyung, head of the Planning Support Division, was also newly appointed as an inside director.

At the board meeting held after the shareholders' meeting, CEO Um stated, "POSCO Future M is preparing to become a game changer in the secondary battery materials sector with the capabilities of its employees and the support of shareholders." He explained, "Following the Trump administration, the reality of de-Chinaization in the battery supply chain has highlighted POSCO Future M's strengths as part of the group that possesses raw material supply chains for lithium, nickel, graphite, and others, leading to a flood of supply love calls from original equipment manufacturers (OEMs)."

He continued, "We will seize the chasm (temporary demand stagnation) as an opportunity to strengthen facilities, increase productivity by 30%, and secure ultra-competitive manufacturing capabilities through process technology development. By 2027, we aim to achieve more than double last year's sales and leap to become a global top 3 secondary battery materials company, contributing to the group's growth," he emphasized.

At the shareholders' meeting, former Vice Minister of Strategy and Finance Heo Kyung-wook was appointed as a new outside director. Heo was recognized for his extensive experience in economic and financial affairs and his Chartered Financial Analyst (CFA) qualification, and was also appointed as a member of the Audit Committee. Cheon Seong-rae, head of the Business Synergy Division at POSCO Holdings, was newly appointed as a non-executive director.

Additionally, four other agendas, including the 54th financial statements, appointment of Audit Committee members, and limits on directors' remuneration, were approved.