Allegro Raises 2026 Outlook as International GMV Surges 
Strait of Hormuz Oil Shipments Hit Six-Month High as U.S. Clears Mines 
Wall Street Surges as Meta Leads AI Rally, Oil Prices Fall 
Trump Plans Federal AI Force and AI Czar 
Canada Eyes India Trade Deal by Year-End 
Vietnam, US Trade Deal Could Be Signed Soon, To Lam Says 
LVMH-Hermès Dispute Deepens Over Secret 2002 Share Deal 
Asia Stocks Rise on AI Demand as Oil Eases 
White House Bars CNN, MS NOW and Politico Reporters 
Nike Earnings at Risk as UBS Cuts Price Target to $42 
Japan, U.S. Discuss $19 Billion GlobalFoundries Chip Plant 
SpaceX Nasdaq 100 Weight to More Than Double in Rebalance 
Oil Prices Tumble on U.S.-Iran Diplomacy Hopes, Supply Relief 
Westinghouse Targets $50 Billion Valuation in U.S. IPO 
FAA Allows Boeing to Sell 35 More 777F Freighters Beyond 2028 
US-China Talks Target AI, Tariffs Ahead of Trump-Xi Summit 
Add as a preferred source on Google
POSCO and Samsung Electronics are cooperating for the supply of steel products. The companies have signed a multi-year deal which will also strengthen their business partnership.
The Pohang-headquartered steelmaker said on Tuesday, April 25, that this is its first long-term contract with Samsung Electronics. The signing ceremony actually took place last month but was only made public this week.
Korea Joongang Daily reported that Han Jong Hee, Samsung Electronics’ head of the DX division, and Kim Hak Dong, Posco’s vice chairman, met up for a conference on Tuesday at Samsung’s main plant in Suwon, Gyeonggi. They discussed about expanding their cooperation in various fields of business, including technology development. They have also brought up the possibilities for more joint projects in the future.
Under the three-year agreement, POSCO will supply steel sheets - cold-rolled, coated steel, and electrical steel to Samsung Electronic’s home appliance and display units until 2026, as per The Korea Economic Daily. The tie-up is aimed at ensuring that the Seoul-based electronics company will have a stable supply of steel products using the steelmaker’s global supply chain networks.
The deal will also increase the volume of steel that POSCO is supplying to Samsung Electronics by 25%. It was added that the shipment of the new batch of orders to the latter will start this year. Moreover, aside from the steel sheets, POSCO will also provide color-coated steel and Posco Magnesium Alloy Coating Products or PosMAC to Samsung.
“Our steel supply to Samsung will increase 25% from the current level. In addition to cold-rolled, coated and electrical steel products, we will also provide Samsung with color-coated steel through our affiliate POSCO Steeleon,” an official at POSCO said.
The steelmaker’s VP also stated, “We believe that Posco can contribute to ensuring stable raw materials supply for Samsung Electronics, with our supply chain network of global production bases and processing centers.”
Photo by: Babak Habibi/Unsplash
