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Kim Yoon Sung

Managing Director and Senior Analyst at I'm Securities

Kim Yoon Sung is a Managing Director and Senior Analyst at I'm Securities, specializing in Korean equities with particular focus on major companies such as Samsung Electronics, SK Hynix, LG Chem, and Hyundai Motor. He is recognized for delivering insightful equity research and maintaining a strong track record, including a success rate exceeding 65% and above-average portfolio returns as reflected on platforms like TipRanks. Kim began his career in the early 2000s with earlier analyst roles at KB Securities and Mirae Asset, before joining I'm Securities in 2016. He holds advanced professional credentials including Korean securities licenses and is registered with key industry regulatory bodies, earning multiple recognitions for research excellence in domestic markets.

Kim Yoon Sung's questions to POSCO HOLDINGS (PKX) leadership

Question · Q3 2025

Kim Yoon Sung inquired about POSCO Holdings' mid to long-term steel strategies, particularly how the company plans to address increasing market burdens like deficits and tariffs, and if it mirrors NSC's approach of decreasing local capacity while increasing overseas investments. He also asked about new investment strategies beyond steel, given rising CapEx for US and India projects and potential acquisitions, and the impact of restructuring in the steel and battery businesses in China on POSCO Holdings' market position.

Answer

Young-ah Han, Head of Investor Relations, and Lee Joo-Tae, Head of Marketing Strategy, confirmed similarities with NSC in increasing overseas capacity due to local demand declines, while domestically, POSCO is shutting down uncompetitive facilities and investing in new ones like electrical steel and electric arc furnaces. Young-ah Han outlined investment priorities: environmental projects (HIREX), overseas steel capacity additions in growth markets (India, Indonesia, Australia), stabilizing existing rechargeable battery material investments, and pursuing M&A for long-term growth. Lee Jae Young from Energy Materials Business Management explained that restructuring in China has led to lithium price increases and the elimination of the price gap between Korean and Chinese materials at US ports, anticipating market improvement next year, especially with potential ESS contracts.

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Question · Q2 2025

Kim Yoon Sung from I'm Securities asked about POSCO's sales strategy and market projections for the U.S. and Europe, given the 50% U.S. steel tariff. He questioned how the company plans to navigate the U.S. market, the potential impact of steel volume being diverted to Europe, the sales volume forecast for the second half, and the company's pricing policy for U.S. customers in light of anti-dumping tariffs.

Answer

The Marketing Strategy Office Chief explained that while the 50% U.S. tariff is expected to hold for now, POSCO's direct exposure is minimal at only 2% of total volume. The company's focus is on developing a sustainable price policy that keeps its U.S.-based user industries competitive, with a definitive plan to be set after final anti-dumping rulings. For the EU market, he acknowledged that diverted volume could suppress prices but believes the impact will be manageable due to quotas, allowing POSCO to remain competitive in other regions like Southeast Asia.

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