"1.26 Million Tons of Clean Hydrogen Supply" POSCO Inter's Future Energy Business Blueprint

2023 Energy Business Value Day Held

POSCO International held the '2023 Energy Business Value Day' on the 6th at NH Tower in Yeouido, inviting about 50 investors. The company plans to invest 3.8 trillion KRW in the LNG business and build infrastructure to supply 1.26 million tons of clean hydrogen.

This event, newly established this year as an IR event, allows management from each business division to directly introduce the company's growth plans to investors. The program proceeded in the order of an external expert seminar, energy business strategy, LNG business promotion plan, renewable energy and clean hydrogen business promotion plan, and Q&A.

Executives from POSCO International's Energy Division are answering questions from attendees.
[Photo by POSCO International]

Professor Shin Hyun-don from Inha University, who appeared as an external lecturer, gave a lecture titled 'Growth Potential and Future Prospects of the LNG Business,' and each division head shared the promotion plans of their respective businesses with the attendees.

In the seminar, Professor Shin Hyun-don introduced the advantages of the LNG business, which can secure various profits from production to infrastructure and power generation, and forecasted that natural gas demand and utilization will continue to expand through blue hydrogen production using carbon capture and storage (CCS) technology in the process of preparing for carbon neutrality.

[Photo by POSCO International]

In the subsequent business-specific seminar, detailed plans for the execution of the 3.8 trillion KRW investment and the LNG value chain roadmap were presented. The recently declared '2050 Carbon Neutrality Achievement' roadmap was announced in connection with renewable energy business plans. For the first time, the plan to build a total of 1.26 million tons of clean hydrogen supply infrastructure centered on Incheon, Gwangyang, and Pohang by 2035 was disclosed.

The goal to secure more than two gigawatt (GW)-scale offshore wind power business rights by 2030 and become the largest renewable energy business company in Korea was also presented.

[Photo by POSCO International]

Since the integration of energy businesses, POSCO International has led POSCO Group's future energy business focusing on ▲completing the LNG business value chain ▲expanding renewable energy business ▲building clean hydrogen infrastructure. The business structure will also diversify centered on the energy business, fostering new businesses such as eco-friendly materials and bio-food businesses.

Yoo Geun-seok, IR Group Team Leader who organized this event, stated, “The energy business will show high growth potential through an investment of 3.8 trillion KRW over three years as the third growth engine of POSCO Group,” and added, “Starting with this event, we will continuously hold value days focusing on food and eco-friendly materials to steadily increase investors' understanding of the company.”

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