Kim Hyun-bin began his journalism career at Arirang TV from 2012 to 2017, specializing in defense, foreign affairs and the economy. In 2018, he joined The Korea Times, covering society and business, and is currently responsible for embassy affairs.
POSCO group chairman meets with president of Argentina to expand lithium biz
POSCO Group Chairman Choi Jeong-woo meets with Argentine President Fernandez to discuss ways to continue cooperation on future businesses at the Presidential Palace in Buenos Aires on Monday (local time). From left in the first row, POSCO Holdings Vice President of Eco-Friendly Future Materials Yoo Byung-ok, POSCO Group Chairman Choi Jeong-woo, Argentinean President Alberto Fernandez, Minister of Productive Development Matias Kulfas and senior Argentinian government and POSCO officials. Courtesy of POSCO Holdings
By Kim Hyun-bin
By Kim Hyun-bin
POSCO Group Chairman Choi Jeong-woo met with Argentine President Alberto Fernandez to seek cooperation in the local lithium business and expand production of cathode materials.
According to POSCO Group, Tuesday, Chairman Choi discussed the rechargeable battery materials business with President Fernandes at the Presidential Palace in Buenos Aires, the capital of Argentina, Monday.
“POSCO Group is the first Asian steelmaker to declare carbon neutral 2050 and expand its business to secondary battery materials, lithium, nickel and hydrogen, leaping beyond steel to become a leading company in eco-friendly future materials,” Chairman Choi said. “Lithium, an essential material for electric vehicle (EV) batteries, is a key business area that will drive the future growth of POSCO Group, and the cooperation from the Argentine government is essential.”
President Fernandez said, “I am grateful that the POSCO Group made a large-scale investment in Argentina's salt lake to produce lithium directly. We will actively support everything, including licensing.”
The meeting was held ahead of the groundbreaking ceremony for POSCO Group's lithium plant in Argentina, Tuesday. POSCO Group acquired the Hombre Muerto salt lake in Argentina in 2018 and is scheduled to start construction of a commercial plant on Wednesday.
POSCO Group also signed an MOU with the Argentinean government to expand the lithium plant and extend cooperation in the production of cathode materials. The strategy is to increase lithium production in Argentina and, through this, produce cathode materials locally to further strengthen the secondary battery materials value chain.
Argentina ranks fourth in the world in terms of lithium reserves and third in production.
Chairman Choi requested the Argentine government's cooperation not only in the rechargeable battery materials business, but also in the hydrogen and food businesses, and President Fernandez promised active cooperation.