POSCO E&C Announces New Vision: "Increase Corporate Value 10-Fold by 2035"

Achieving 25 Trillion KRW in Sales and 2 Trillion KRW Operating Profit Goal
Commitment as a 'Leading Eco-Friendly Future Growth Company'

POSCO E&C has announced a new vision ahead of its 30th anniversary next year, expressing its commitment to becoming an eco-friendly future growth-leading company.

Hansunghee, President of POSCO E&C, is shaking up morale. / Photo by POSCO E&C

On the 19th, POSCO E&C revealed that it has established a new vision as an "innovative company challenging the limits of its business to build an eco-friendly future society." It also set a goal to achieve KRW 25 trillion in sales and KRW 2 trillion in operating profit by 2035, aiming to increase its corporate value tenfold compared to the present.

Earlier, POSCO Group announced in July a plan to invest KRW 121 trillion by 2030 to leap forward as a 100-year leading company in eco-friendly future materials, focusing on core businesses such as steel, secondary battery materials, and hydrogen.

In line with this, POSCO E&C plans to ▲realize POSCO Group’s vision through successful design, procurement, and construction (EPC) of seven core businesses, ▲continuously challenge the transition to eco-friendly businesses, and ▲proactively discover and propose new businesses to contribute to the group’s shared growth and lead the realization of real value. The seven core businesses are steel, hydrogen, secondary battery materials, lithium and nickel, energy, construction, and food.

First, POSCO E&C will shift its portfolio centered on two core areas to enable convergence synergy beyond the existing plant, infrastructure, and architecture frameworks. These are the 'Eco Biz,' which builds carbon reduction and green energy infrastructure, and the 'Urban Biz,' which constructs eco-friendly future cities and smart infrastructure.

In the Eco Biz sector, POSCO E&C will secure early EPC capabilities for core equipment of Hi-REX (hydrogen reduction steelmaking technology) to expand the low-carbon steel sector. It will also provide optimal solutions for the success of POSCO Group’s secondary battery business by strengthening EPC competitiveness in secondary battery raw materials and materials and expanding overseas projects. The company is determined to become the world’s number one EPC company in secondary batteries.

Moreover, recognizing the importance of securing core technologies for future businesses, POSCO E&C plans to lead future new energy infrastructure technologies by establishing partnerships with specialized engineers and securing original technologies in advance to participate in clean green energy businesses such as offshore wind power, small modular reactors, and hydrogen.

In the Urban Biz sector, POSCO E&C will plan future smart cities based on its experience in developing Songdo International City. It aims to lead eco-friendly architectural culture by developing eco-friendly green life products through digital innovation across all areas including safety, quality, productivity, and profitability, and by pioneering modular construction. Additionally, it has ambitions to become a 'top developer of eco-friendly future cities' by building converged infrastructure facilities and future transportation infrastructure.

Image source=POSCO E&C

In terms of business model advancement and innovation in execution methods, POSCO E&C plans to strengthen its competitiveness in project acquisition and execution. This includes early participation from the EPC preliminary stages to secure original technologies for future business core technology preemption.

Furthermore, the company will accelerate fundamental organizational reform to realize its vision. It will strengthen the organization by expanding the cultivation of future growth business experts and utilizing key specialized talents, and will discover converged future business models linked with the group and secure diverse revenue structures. The company also plans to innovate its organizational culture by maximizing empathy and motivation through open communication with employees about the company’s direction, establishing an execution-focused working style based on autonomy and creativity.

Han Sung-hee, CEO of POSCO E&C, said, "With this vision announcement as a starting point, all employees will unite their hearts to continuously challenge the limits of our business as an eco-friendly company." He added, "We will do our best to realize the company’s real value through restructuring centered on eco-friendly businesses, expanding the value chain, increasing profitability, and gradually expanding overseas operations."

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