Australia's Santos signs two separate LNG agreements with POSCO Steel and Western LNG

POSCO Group Chairman Chang In-hwa proposed strengthening Korea-Australia supply chains, focusing on lithium and energy. The group plans a KRW 29.1 trillion investment over three years, targeting doubled sales and sevenfold operating profit by 2035. It will fund this by selling stakes in subsidiaries, aiming for a 4.2% ROE by 2028. Lithium projects in Argentina turned profitable, while steel sales declined.

POSCO E&C has secured KRW 14.3 trillion in cumulative remodeling orders since 2014, with KRW 5.4 trillion in the last three years. The company leads South Korea's apartment remodeling market, using advanced technologies like 3D laser scanning and patented solutions. It plans to focus on high-quality projects in prime locations, aiming to strengthen its market position.

Hyundai Steel and POSCO are investing $5.8B in a Louisiana mill, aiming to produce green steel by 2029. The facility will use DRI and electric arc furnaces to cut emissions by 70%. The project is a joint venture between Hyundai Steel, Hyundai Motor, Kia, and POSCO, enhancing supply chain resilience and avoiding US tariffs.

POSCO began construction on a 480 billion won ($358 million) auto steel plant in Gwangyang, South Korea. The facility, scheduled for 2028 completion, will produce 450,000 metric tons/year of galvanized steel sheets for automotive and appliance use. This is POSCO's first new galvanizing line since 2017 and will increase its annual capacity to 4.95 million metric tons. The project integrates with a recently completed electric arc furnace, aiming to create a low-carbon production chain.

Hyundai Steel and POSCO started constructing a $5.8B steel plant in Louisiana with 2.7M tonnes annual capacity. Hyundai Steel expects $4B annual revenue at full production. Hyundai Motor and Kia will each buy 400,000 tonnes annually. The plant aims to reduce carbon emissions by 70%.

POSCO, a South Korean steelmaker, faces its first strike in 58 years as wage talks stall. The union demands higher raises and bonuses, while management cites financial struggles. CEO Lee Hee-geun canceled a U.S. trip to focus on negotiations. POSCO's H1 operating profit fell 43.3% YoY to 487.3 billion won. A strike could disrupt supply chains for major industries.