Gwangyang FEZ Authority Holds Completion Ceremony for POSCO Future M Precursor Factory at Yulchon Industrial Complex

Annual Production Capacity of 45,000 Tons
Localization of Secondary Battery Materials

The Gwangyang Bay Area Free Economic Zone Authority (headed by Koo Choongon, hereinafter referred to as Gwangyang FEZ Authority) announced on June 10 that a completion ceremony was held for POSCO Future M's precursor factory, which has an annual production capacity of 45,000 tons, at the Yulchon 1 Industrial Complex in the Gwangyang Bay Area.

The event was attended by Koo Choongon, head of the Gwangyang FEZ Authority, Jung Inhwa, Mayor of Gwangyang, Choi Daewon, Chairman of the Gwangyang City Council, Um Kicheon, CEO of POSCO Future M, and about 70 other business stakeholders.

A completion ceremony for POSCO Future M's precursor factory with an annual production capacity of 45,000 tons was held at Yulchon 1 Industrial Complex in the Gwangyang Bay Area. Provided by Gwangyang Free Economic Zone Authority

The newly completed factory has been built on a site of approximately 22,000 square meters (about 6,800 pyeong), and will begin full-scale production of precursors, which are one of the core materials for the domestic secondary battery industry. By localizing the production of precursors, which had previously relied on imports, the company has secured a stable supply chain and further strengthened POSCO Group's battery material value chain.

POSCO Future M had already been operating a cathode material factory within the Yulchon Industrial Complex, and with the addition of the new precursor factory, the group has now established a supply chain for battery materials that covers the entire process from raw material procurement to precursor and cathode material production. In particular, the location advantages of the Yulchon Industrial Complex, where logistics and utility infrastructure are concentrated, are expected to greatly improve production efficiency.

Koo Choongon, head of the Gwangyang FEZ Authority, stated, "The completion of POSCO Future M's precursor factory will not only help establish a stable supply chain, but also contribute greatly to revitalizing the local economy by creating high-quality jobs. The Gwangyang FEZ Authority will continue to work to help the Gwangyang Bay Area become a hub for the secondary battery materials industry, and we will support the ongoing growth of POSCO Future M."