[Concall] POSCO Holdings "Tangible Asset Impairment and Recovery Costs Compensated as Non-Operating Income After Insurance Settlement"

Q3 Earnings Conference Call

[Asia Economy Reporter Choi Seoyoon] POSCO Holdings stated on the 24th during the Q3 2022 earnings conference call that "in 2021, we subscribed to comprehensive property insurance for all types of tangible assets," adding, "Most of the impairment losses on tangible assets and a portion of the restoration costs are expected to be compensated as non-operating income once the insurance settlement is completed." They also explained, "The timing of the settlement has not been determined."

The scale of tangible asset impairments amounts to 146.9 billion KRW for POSCO and 750 million KRW for POSCO Chemical, among others.

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