Washington Post Publisher Will Lewis Steps Down After Layoffs 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
POSCO Chemical, a leading company in coal chemistry and carbon materials, is set to spend $240.8 million or around ₩281 billion to set up two battery materials factories in China. It was reported that these will be the firm’s very first production facilities for its electric vehicle battery business outside of South Korea.
According to The Korea Herald, POSCO Chemical is aiming to build a 30,000-ton cathode plant and a 30,000-ton precursor factory that will be an addition to its existing production base Tongxiang city that was launched in August 2019. This is being jointly run by POSCO and Huayou Cobalt, a local company.
The new plants are expected to be completed by 2023 and these will boost the company’s yearly capacity to produce cathodes and precursors in China. The estimated numbers are 35,000 tons for each of the plants and these are said to be enough to power at least 390,000 electric vehicles that are fitted with 60-kilowatt-hour battery packs.
“Posco Chemical will take preemptive actions on the fast-growing market and speed up its investments,” Min Kyung Joon, POSCO Chemical’s chief executive officer said in a statement.
“By manufacturing both cathodes and anodes, Posco Chemical will create synergies and take a leading role in the value chain of the battery industry.”
It was added that the chemical company is also aiming to reach 160,000 tons of cathode production capacity in South Korea and additional 110,000 tons outside of the country. As the company expands and does more businesses overseas, POSCO is also considering opening a new office in either the United States or Europe.
The Korea Times noted that the firm is investing as part of its strategy in developing its business to adapt to the global shift to environmentally-friendly businesses while maximizing its steel production expertise. The decision to invest in China was made during a board meeting that was attended by all the company’s directors.
"We will act preemptively and speed up the pace of our investments in tandem with the rapidly-growing market," CEO Min said in another statement. "We will accordingly help POSCO play a leading role amid the restructuring of global value chains in the battery business."
