POSCO International to focus on energy, steel, food, biomass for growth

POSCO International Corp.‘s vision announcement ceremony held in Songdo, Incheon, on April 13. [Photo provided by POSCO International]

POSCO International Corp., the trading arm of South Korea’s top steelmaker POSCO, will focus on green energy business to turn itself into a company that specializes in a wide range of emerging business sectors from steel and food to green energy.

POSCO International unveiled a roadmap for future growth in a corporate event held in Songdo, Incheon, on Thursday, the first time since the company’s merger with POSCO Energy Co.

Under the roadmap that shares a vision for green energy and global business, POSCO International will aim to raise its market capitalization to 23 trillion won ($17.7 billion) by 2030 from the current 3.8 trillion won.

POSCO International proposed four business areas to achieve its goal - energy, steel, food, and biomass.

Ever since being incorporated into POSCO Group in 2010, POSCO International has been expanding its presence and size. The company posted 1.17 trillion won in operating profit on sales of 41.7 trillion won in 2022, including those of POSCO Energy, up from an operating profit of 171.7 billion won and sales of 15.7 trillion won in 2010.

POSCO International is ranked as the 17th-highest among Kospi-listed firms based on last year’s sales.