Posco Group announced a major shift in its business strategy, planning to invest 16.7 trillion won between 2026 and 2028 to expand into lithium, rare earths, LNG, and renewable energy. The steelmaker aims to become a top five global lithium producer with 173,000 metric tons of annual capacity by 2033. Its Argentine brine lithium operation turned profitable in March 2026, and the company has secured lithium concentrate supply from Australia through a joint venture with Mineral Resources. The group's triple-core strategy covers steel, strategic resources like battery materials, and energy including offshore wind and solar. Posco targets consolidated revenue of 187 trillion won and operating profit of 13.1 trillion won by 2035. The shift reflects growing pressure on industrial conglomerates to diversify beyond cyclical steel markets and align with the low-carbon transition. Profits from overseas steel projects in India, the US, and Indonesia will be reinvested into domestic decarbonization efforts.
