POSCO and Hyundai Motors partner to supply battery materials to the U.S. - South Korea

The POSCO Group has signed a memorandum of understanding (MOU) with the Hyundai Motor Group for a business partnership agreement aimed at mutual cooperation in the steel and secondary battery fields.
Under the MOU, POSCO Group will supply steel materials for next-generation mobility and secondary battery materials, while Hyundai Motor Group will stably supply high-end materials.
In the steel sector, POSCO Group will participate in the investment in the steel business in the United States recently announced by Hyundai Motor Group.
By investing in the Louisiana Steel Works, steel giant POSCO will be able to smoothly supply steel materials to the United States and Mexico.
In addition, POSCO Group is a leader in the secondary battery materials business, which handles everything from lithium to cathode and anode materials.
The two companies plan to explore areas of collaboration in building supply networks and developing next-generation materials by leveraging the synergy between the group's competitiveness and the technological capabilities of the Hyundai Motor Group.
In relation to this, the POSCO Group has launched its own product, Gigasteel, for high-strength, lightweight automotive steel sheets.
In addition to a portfolio of steel materials for next-generation mobility, such as materials for electric vehicle (EV) drive motors, the company is also developing a business for the production and reuse of positive and negative electrode materials based on the development of lithium salt lakes and mines.
We are building a value chain.