Posco Group is fast-tracking the restructuring of its non-core subsidiaries.
It is reported that POSCO International has decided to exit the Chinese steel market due to its oversaturation, which makes further competition with local players unprofitable. In addition, geopolitical risks, including trade tensions between the US and China, are worsening the business environment for South Korean conglomerates operating in China. source
POSCO plans to liquidate or divest more than 120 underperforming or non-essential businesses by 2026. The goal is to raise some 2.6 trillion won to reinvest into its core pillars: steel and battery materials. As of the first quarter, the group had already achieved 40 percent of the target. source
It already has 40% of its target. Where is that money going to go?
All IMO, DYOR, GLTA(patient)H
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