[Concall] POSCO Holdings "Investing in Secondary Battery Materials and Lithium Sector According to Roadmap Despite Recession"

Q3 Earnings Conference Call

[Asia Economy Reporter Choi Seoyoon] On the 24th, POSCO Holdings stated during the Q3 2022 earnings conference call, "Since many view that a recession is beginning, we intend to carefully review investments," but also added, "We plan to continue investing in secondary battery materials, lithium, and nickel sectors according to our roadmap without delay."

POSCO Holdings said, "We have been investing about 8 trillion KRW annually, and plan to invest 8 to 9 trillion KRW over the next three years, with half of that going to steel," adding, "Steel investments will be managed by POSCO, and we believe that with our own EBITDA, we can continuously invest in low-carbon green steel."

They further explained, "In new businesses, POSCO Chemical is responsible for battery material investments such as downstream processes, while POSCO Holdings is focusing investments on raw materials like nickel and lithium," and added, "If there is a need for additional funding, we have decided to raise it internally." They continued, "This is within our scope until next year," and added, "We will invest while securing as much funding as possible through asset efficiency improvements in the year after next."

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