Hyun-soo Yi

Yi Hyun Soo from Yuanta Securities noted that H1 steel sales volume was lower than expected and asked if a higher volume is anticipated in H2, especially with the Finex #3 plant restarting. He also questioned the Rechargeable Battery Materials (RBM) business, pointing out the absence of a recent 'Value Day,' significant deviations from last year's guidance, and asked for a projection on when the segment might turn a profit.

Answer

The marketing strategy lead confirmed that second-half sales volume is expected to be higher than the first half, partly due to the Finex #3 plant restarting in Q4, which will also improve energy cost efficiency. Regarding the RBM business, an executive acknowledged the guidance has changed due to market conditions and production adjustments. He projected that the nickel business would be profitable next year, but the overall RBM segment's operating profit timeline remains dependent on fluctuating lithium prices.

Hyun-soo Yi of Yuanta Securities asked for clarification on POSCO's involvement in Hyundai Steel's antidumping complaint against China and sought details on the Chairman's mention of pursuing "new materials" as a future growth engine.

Answer

Henry Do, Head of International Trade Affairs, clarified that Hyundai Steel's antidumping complaint was an independent decision and POSCO will provide its opinion to the government separately. The Head of Business Strategy explained that "new materials" refers to exploring synergistic domains related to mobility and green energy, with a formal review planned for the second half of the year.

Asked for POSCO's position on Hyundai Steel's recent antidumping complaint against China and for clarification on the Chairman's comments about pursuing 'new materials' as a future growth engine.

Answer

POSCO clarified that Hyundai Steel's antidumping complaint was an independent decision and that POSCO will provide its own opinion to the government. The 'new materials' strategy involves exploring synergistic business domains related to their core steel and battery businesses, such as materials for mobility and green energy, with a formal review underway.

Asked about the company's strategy to address IRA and FEOC concerns in the battery materials business, its response to potential increases in steel imports from China, and its opinion on Nippon Steel's acquisition of U.S. Steel.

Answer

POSCO will use its domestic SNNC plant for IRA-compliant nickel and is working to localize graphite sourcing, while targeting non-IRA markets with its China JVs. The company is monitoring the steel import situation from China and is keeping all options open to protect the domestic industry. Regarding NSC's acquisition of U.S. Steel, POSCO notes its strategy differs, focusing on quality and diversification rather than scale, and will monitor the deal's progress and impact on the U.S. market.