Why Paycom Was Named a 2026 Platinum Employer on the Where You Work Matters List 
Starbucks Raises 2026 Outlook as Turnaround Strategy Boosts Sales and Earnings 
Robinhood Q1 Earnings Miss Expectations, Stock Drops After Hours 
Novartis Q1 2026 Earnings Miss Expectations as Generic Competition Pressures Sales 
Air Liquide Q1 Revenue Misses Estimates Amid Currency and Energy Headwinds 
Lightelligence IPO Soars Over 400% in Hong Kong Debut Amid Rising AI Investment Demand 
AI Stocks Rally in Asia as Oil Surge and Hawkish Central Banks Shake Global Markets 
Tokyo Inflation Slows Despite Energy Pressures and BOJ Policy Outlook 
Gold Prices Hold Steady as Iran War and Interest Rate Outlook Weigh on Markets 
Trump Signals Prolonged Blockade Strategy Against Iran Amid Rising Tensions 
Coles Group Q3 Sales Rise Driven by Supermarkets and E-Commerce Growth 
Asian Markets Mixed as Fed Decision, Iran Tensions, and Inflation Data Weigh on Sentiment 
WuXi AppTec Stock Surges on Strong Q1 Earnings and CRDMO Demand Growth 
Yen Weakens After Intervention Spike as Dollar Stabilizes Amid Global Tensions 
Pershing Square Raises $5 Billion in Landmark U.S. IPO and Share Placement 
Panama Defends Port Takeover Amid U.S.-China Tensions and Canal Dispute 
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."
