Seoul shares opened slightly higher Monday, led by gains in battery and steel shares. The benchmark Korea Composite Stock Price Index rose 0.05 percent, or 1.3 points, to 2,651.08 in the first 15 minutes of trading. Battery and steel shares led the overall gains, with industry leaders LG Energy Solution and Posco Holdings increasing 2.53 percent and 1.94 percent, respectively. Bio and internet service operators also added momentum. Samsung Biologics rose 0.91 percent, and top internet portal ope

The American Chamber of Commerce in Korea said Friday it has completed the five-day business trip to Washington DC held earlier this month, reasserting Korea-US economic partnership. The AmCham delegation comprising senior executives from key member companies, such as LG Energy Solution and Posco Holdings, met with US senators and representatives from 12 states and 10 US government organizations including the White House National Economic Council (NEC) and the Office of the Vice President. Throu

Posco Future M and General Motors have pushed back the completion of their cathode material plant in Canada, which is part of their joint venture, Ultium CAM. Originally scheduled to be finished by the end of this month, the plant’s completion has now been delayed to a yet-to-be-determined date. Posco Future M announced the delay on Friday, citing "local conditions" without providing specific details. The plant, located in Becancour, Quebec, is set to produce high-nickel cathode

South Korean steel giant Posco Group said Friday that it hosted two work camps for university students in North Gyeongsang Province and South Jeolla Province from July to August. The company annually recruits university students for its volunteer group, called Beyond. This year, 50 students from 40 Korean universities worked in various voluntary activities to address environmental and social issues. In July, the volunteers planted 400 magnolia seedlings at Baekdudaegan National Arboretum, creati

Posco International, the trading and energy arm of Posco Group, said Thursday that it has signed a memorandum of understanding with the East Asian-Australasian Flyway Partnership to join forces for biodiversity. Under the agreement signed Wednesday at the Songdo Posco Tower in Incheon, Posco will partner with the EAAFP to carry out projects that preserve domestic and foreign habitats of black-faced spoonbills. EAAFP, established in 2006, is an international organization dedicated to the conserva

Seoul shares opened higher Wednesday tracking overnight gains on Wall Street on increasing hopes for more US rate cuts. The benchmark Korea Composite Stock Price Index rose 0.56 percent, or 14.79 points, to 2,646.47 in the first 15 minutes of trading. Overnight, major US indexes closed higher on hopes for additional rate cuts by the Federal Reserve amid lingering concerns on the labor market. Blue chip tech shares rallied, with AI chip giant Nvidia up 3.97 percent and TSMC up 4.13 percent. In Se

Seoul shares closed higher Tuesday to extend their winning streak to a sixth day, driven by hopes for further US rate cuts and China's stimulus plan. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index added 1.14 percent, or 29.67 points, to 2,631.68. Trading volume was slim at 345.9 million shares worth 10.1 trillion won ($7.6 billion), with gainers surpassing decliners 605 to 264. Institutions bought 561.6 billion won worth of local shares to off

Seoul shares opened higher Tuesday, tracking overnight gains on Wall Street amid hopes for more US rate cuts. The benchmark Korea Composite Stock Price Index rose 0.58 percent, or 15.18 points, to 2,617.19 in the first 15 minutes of trading. Overnight, major US indexes gained ground as several Federal Reserve policymakers voiced support for additional rate cuts in the future. Last week, the Fed cut its lending rate by half a percentage point to a range of 4.75 percent to 5 percent and pledged fu

Seoul shares closed higher Monday to extend their winning streak to a fifth day, backed by tech gains, as investors were digesting the US Federal Reserve's big cut last week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index rose 0.33 percent, or 8.64 points, to 2,602.01. Trading volume was slim at 330.2 million shares worth 9.3 trillion won ($6.96 billion), with losers slightly surpassing winners 449 to 434. Retail investors and institutions pur

Posco Future M said Thursday it has signed a 1.8 trillion won ($1.4 billion) deal to supply high-nickel cathode materials for electric vehicle batteries with a battery maker. The details of the agreement including the other signing party will not be disclosed until Dec. 31, when the two companies will finalize the terms and conditions, according to Posco Future M. “We sometimes hold back the information on the parties involved following the company’s request (of not making a full dis

With South Korea's sole bourse operator set to introduce this month a stock index comprised of Korean companies well complying with the government-led corporate value-up program, the market expects bank shares and large-cap stocks to make the list. As part of the value-up program announced earlier this year, Korea Exchange is to launch the Korea Value-up Index in September, enlisting “best practice” companies to boost the appeal of the local stock market. Though the bourse opera

Posco International, the trading and energy arm of Posco Group, announced Tuesday that it has signed a $40 million contract with Australian mining company Black Rock Mining to secure natural graphite, a key material for secondary batteries. The signing event was held on the sidelines of the joint annual meeting between the Australia-Korea Business Council and the Korea-Australia Business Council in Perth, Australia, Tuesday. The event was attended by Korea’s Trade Minister Cheong In-kyo, A

Posco Group Chairman Chang In-hwa, who also serves as the head of the Korea-Australia Business Council, emphasized the need to strengthen economic relations between South Korea and Australia, particularly in the areas of natural resources, eco-friendly materials and infrastructure. “South Korea and Australia have been collaborating to pioneer future green development, which includes advancing eco-friendly materials and infrastructure beyond traditional resource cooperation in minerals and

Posco said Thursday that it has introduced a lightweight steel takeoff and landing pad, specifically designed for vertiports on buildings. This new vertiport landing pad is constructed from a foam deck formed by thinly shaped steel plates, making it over 60 percent lighter than traditional landing pads while still offering superior rigidity, corrosion resistance and usability, according to the company. In June, Posco's landing pad underwent rigorous testing during Lotte E&C's urban

Posco International, the trading arm of Posco Group, announced Thursday that it received its first credit rating from global credit rating agencies Standard & Poor's and Moody's on Tuesday. Posco International was assigned a rating of BBB+ by S&P and Baa2 by Moody's, with both agencies providing a stable outlook for the company's credit rating. An S&P rating of BBB- or higher is generally considered investment grade. Posco International's BBB+ rating is on pa