poscofuturem

- New name expected to signify future-oriented thinking and enhance brand value

- Transfer to KOSPI will be decided in a shareholder’s meeting
- Integrated cathode and anode businesses will accelerate growth in the new energy materials business

POSCO Chemtech is changing the company’s name to POSCO Chemical, to craft a new identity and spur growth as a global general chemical and materials company.

POSCO Chemtech announced on February 27, 2019 that the company name is changed to POSCO Chemical, through a resolution to be made in the general shareholder’s meeting on March 18, 2019. The move is aimed at clearly identifying the business areas encompassing basic materials and energy materials and solidifying the corporate identity as a chemicals and materials manufacturer representing the POSCO Group.

POSCO Chemtech explained that it has decided to rebrand the company because the new name better indicates the company’s history as a general chemical and materials company, and where the company is headed. The company is also expanding the business area to include energy materials business, the new growth engine for the POSCO Group. All in all, the new name is set to enhance the company’s brand value in the global market.

The company added that it will take this as an opportunity to “strive to improve our business capabilities and corporate culture to be on par with that of other global general chemical companies.”

In addition, POSCO Chemtech announced in a public notice that it will decide on transfer to KOSPI at a March shareholder’s meeting. Once the decision is made, it will go through an approval process and complete the transfer in the first half of the year.

Through the transfer, POSCO Chemtech expects to secure a stable investment environment and a shareholder base for long-term growth and the start of a new business in full scale, such as energy materials. It may also enhance the company’s external credibility through inclusion in the KOSPI 200 Index.

POSCO Chemtech is about to merge with POSCO ESM, a cathode company in the POSCO Group, on April 1, 2019. Together with the new name, the company aims to make preemptive investments in the cathode and anode businesses to expedite growth of the energy materials business, the new growth engine of the POSCO Group.