POSCO Chemical "We Will Establish Top-Tier Competitiveness in Secondary Battery Materials"

POSCO Chemical Celebrates 50th Anniversary on April 1
Holds 50th Annual General Meeting of Shareholders

[Asia Economy Reporter Hwang Yoon-joo] Posco Chemical, celebrating its 50th anniversary this year, announced that it will establish global top-tier competitiveness in the secondary battery (electric vehicle battery) materials business, including cathode and anode materials, this year.

On the 15th, Posco Chemical held the '50th Regular General Meeting of Shareholders' at its Pohang headquarters and announced its management plans and annual performance. At this general meeting, the company reported last year's business results with consolidated sales of 1.5662 trillion KRW and operating profit of 60.3 billion KRW, and agenda items such as approval of financial statements and appointment of directors were discussed.

CEO Min Kyung-jun said, "As we mark the 50th anniversary of our founding and take the first step toward the post-COVID era, we will put more effort into preparing for future leaps forward. We will expand market-leading technology development and mass production capacity investment in the secondary battery materials business, and accelerate the transition to a business structure focused on high value-added materials to enhance corporate value."

Through this general meeting, Posco Chemical newly appointed Lee Woong-beom, former head of LG Chem's battery business division, and Kim Won-yong, head of the Future Society Research Institute at Kim & Chang law firm, as outside directors. Additionally, CEO Min and Jeong Seok-mo, non-executive director and head of Posco's secondary battery materials business office, were reappointed, and Kim Joo-hyun, head of the Planning Support Headquarters, was newly appointed as an inside director. Outside director Yoo Gye-hyun and inside director Kang Deuk-sang's terms expired.

Following the appointment of Professor Jeon Young-soon from Chung-Ang University's Department of Business Administration as the first female outside director last year, Posco Chemical expanded the number of outside directors from two to three this year. This was to form a board of directors with expertise and diversity in fields such as business, technology, accounting, and communication, to strengthen efficient and strategic decision-making and enhance business competitiveness.

Centered on the strengthened board, Posco Chemical plans to more swiftly pursue ▲ rapid investment for future growth ▲ securing differentiated technological leadership ▲ realization of safety management ▲ expansion of ESG (environment, social, governance) management and communication.

Meanwhile, at this general meeting, Posco Chemical stated that since its founding in 1971, it will actively practice its corporate citizenship management philosophy to repay shareholders, customers, and stakeholders who have continuously supported Posco Chemical, and further solidify its status as a global leading chemical and energy materials company.

This content was produced with the assistance of AI translation services.