POSCO International tests tokenized trade finance on Avalanche with Olea

POSCO and its largest union failed to reach an agreement, leading to the termination of mediation. The union now has the legal right to strike, which would be the first in the company's 58-year history. The main issues are wage increases and compensation, with the union demanding a 7.1% base salary increase and POSCO offering 1.5%. A strike could impact major industries, but further negotiations may still prevent it.

POSCO E&C won a $1.1B contract to build two LNG tanks in Thailand, securing half of the market. The company's 'POSCO-style EPC' model and in-house commissioning capability were key factors. Construction is ahead of schedule, and the company aims to bid on additional LNG tank tenders. POSCO E&C also engages in community contribution activities in the region.

POSCO Future M agreed to supply a major Korean battery maker with over 190,000 metric tons of LFP cathode materials from 2027-2032 under a long-term deal, with contract terms to be finalized in Q3. The company plans to improve cost competitiveness using POSCO Group inputs, is certifying LFP prototypes and targets mass production by year-end, and is negotiating additional supply deals.

POSCO Holdings said Aug. 7 it will raise about 2.4817 trillion won by selling about 20.7% of POSCO International shares (36,434,963 shares) for 2.0185 trillion won and about 23.5% of POSCO DX shares (23,385,917 shares) for 481.75 billion won. Sales are set for Sept. 7, with stakes falling to 50% in each. POSCO plans 3-year price return swap contracts tied to base prices.

POSCO Holdings reported Q2 2026 consolidated revenue of KRW 19.3 trillion and operating profit of KRW 819 billion, up from the prior quarter, according to management. Rechargeable battery materials swung to a surplus for the first time in nine quarters, driven by Argentina lithium. Steel operating profit rose to KRW 274 billion. The company reiterated restructuring and CapEx plans.

POSCO Future M said it agreed to supply over 190,000 tons of lithium iron phosphate (LFP) cathode materials to a major Korean battery maker over six years from 2027 to 2032. The deal is estimated at about 3 trillion won ($2.1 billion) and will be formalized in Q3 after terms are finalized. POSCO Future M plans LFP mass production by year-end.