POSCO International to build rare earth supply chain

POSCO International, the trading arm of POSCO Holdings, said Monday it will build a global supply chain for heavy rare earth elements to strengthen its presence in the electric vehicle (EV) components sector. The company said it has established 25 billion won ($16 million) in a corporate venture capital (CVC) fund with POSCO Investment and will invest an initial 8 billion won in a domestic rare earth refining company. The investment is aimed at securing a stable supply of heavy rare earth materials, including dysprosium and terbium, which are essential for high-performance permanent magnets used in EV motors, the company said in a press release. Production and refining of these materials remain concentrated in a limited number of countries, posing structural risks to global supply chains. In addition to the domestic investment, POSCO International plans to strengthen its global sourcing network with a focus on Southeast Asia. It will launch a $30 million joint project with a Malaysian partner for rare earth refining and participate in a separate refining project in Laos to expand its regWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times