Trump Threatens 50% Tariff on Canadian Aircraft Amid Escalating U.S.-Canada Trade Dispute 
Chinalco and Rio Tinto Acquire Controlling Stake in Brazil’s CBA for $903 Million 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
U.S. and El Salvador Sign Landmark Critical Minerals Agreement to Boost Investment and Trade 
Amazon Stock Dips as Reports Link Company to Potential $50B OpenAI Investment 
UK Vehicle Production Falls Sharply in 2025 Amid Cyberattack, Tariffs, and Industry Restructuring 
First Abu Dhabi Bank Reports 22% Jump in Q4 Profit, Beats Market Expectations 
Dollar Struggles as Policy Uncertainty Weighs on Markets Despite Official Support 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Elon Musk Reportedly Eyes June 2026 SpaceX IPO Timed With Planetary Alignment and Birthday 
Asian Currencies Slip as Dollar Rebounds Ahead of Fed Rate Decision 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Canada’s Trade Deficit Jumps in November as Exports Slide and Firms Diversify Away From U.S. 
ASML’s EUV Lithography Machines Power Europe’s Most Valuable Tech Company 
Wall Street Slips as Tech Stocks Slide on AI Spending Fears and Earnings Concerns 
Puma’s Historic Rivalry With Adidas Enters a New Era as Anta Deal Signals Turnaround Push 
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."
