Welcome to our dedicated page for POSCO Holdings American Depositary Shares (Each representing 1/4th of a share of news (Ticker: PKX), a resource for investors and traders seeking the latest updates and insights on POSCO Holdings American Depositary Shares (Each representing 1/4th of a share of stock.
POSCO Holdings Inc. (symbol: PKX) is a renowned South Korean steel-making company headquartered in Pohang, South Korea. Operating through various subsidiaries, POSCO Holdings manages a diversified portfolio across multiple business segments. The Steel Segment focuses on the production and sale of high-quality steel products, crucial for various industries globally. The Green Infrastructure Business includes three primary operations: the Trading Segment, which deals with trading and natural resource development; the Construction Segment, which specializes in the planning, designing, and building of industrial plants, civil engineering projects, and buildings; and the Energy and Other Segments, which encompass power generation and IT/OT services. The Green Materials and Energy Segment highlights POSCO's commitment to sustainability and eco-friendly initiatives.
In recent developments, POSCO Group is leveraging its global network and facilities to promote Busan's bid for World Expo 2030. Employees across the organization are actively involved, incorporating the promotional logo in business communications and documents. POSCO's top management, including Chairman Jeong-woo Choi and Vice Chairman Tak Jeong, are engaging with international political and business leaders to garner support for Busan Expo. The company is also transforming its global business facilities into launchpads for local promotional activities and media campaigns.
Financially, POSCO remains robust, as evidenced by the latest annual reports accessible via their website and the U.S. SEC's platform. Investors can stay informed about the latest financial performance and strategic directions as POSCO continues to prioritize innovation and sustainability while expanding its global footprint.
POSCO HOLDINGS INC. (NYSE: PKX) filed its Annual Report on Form 20-F for the year ended December 31, 2023, with the U.S. Securities and Exchange Commission. The report is available for download on the company's website and the SEC's website. Investors can request a hard copy for free.
POSCO Group's CEO, Jeong-woo Choi, met with Australian Prime Minister Anthony Albanese to discuss future eco-friendly projects in Australia. The meeting focused on the company's plans to invest USD 40 billion by 2040, with USD 28 billion allocated for hydrogen manufacturing and USD 12 billion for green steel. Choi emphasized Australia's significance in realizing carbon neutrality by 2050 and the role of renewable energy sources in manufacturing hydrogen. Albanese expressed support for these initiatives, indicating a strong cooperation for sustainable projects.
POSCO Group CEO, Jeong-woo Choi, was inaugurated as the 44th chairman of worldsteel during the Annual General Meeting in Brussels on October 18. Choi's focus on eco-friendly materials emphasizes the commercialization of Hydrogen Reduction (HyREX) technology amid industrial challenges like carbon neutrality. POSCO also won two Steelie Awards for innovation and sustainability, highlighting its advancements like the 'fast current electrochemical pickling' process and the use of shell waste in sintering, which reduce environmental impact.
POSCO Holdings has signed a Memorandum of Understanding (MOU) on September 7 with Samsung Engineering, Lotte Chemical, and Sarawak Energy for the Sarawak H2biscus Green Hydrogen Project. This collaboration aims to produce 200,000 tons of green hydrogen by 2027 using a minimum of 900MW of hydroelectric power. The feasibility study is set to be completed this year, paving the way for a significant hydrogen supply hub in Asia. The project also contributes to Malaysia's national hydrogen economy and supports South Korea's carbon neutrality goals.
POSCO announced the resumption of operations at its Pohang Steelworks following damage from flooding. As of September 12, all blast furnaces are operational, including the no.3, no.4, and no.2. Steel production has resumed with the restoration of steel-making and continuous casting facilities. Despite progress, the rolling line remains under repair, with 80% of draining work completed. An emergency shipment response team has been established to stabilize supply and demand. Safety measures are being enhanced to mitigate risks during the ongoing restoration.
POSCO is accelerating restoration work at the Pohang Works following typhoon damage. Key updates include:
- Normalization of the Iron and Steel Making Substation by the morning of September 7.
- Power recovery at the steelworks expected to be complete by September 10.
- Three blast furnaces will sequentially resume operation starting September 10.
- Environmental maintenance will be finalized during the Chuseok holiday.
Collaboration with various entities has facilitated extensive drainage efforts to manage flood impacts.
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