Posco Chemical CEO Min Kyung-zoon said on Monday that the company will accelerate its shift in business focus to battery materials going forward.
Speaking at the firm’s 50th annual shareholders’ meeting at Pohang, Min said the company will expand its investments into marketing-leading technology and production capacity for battery materials such as cathode and anode.
The company will focus on high-value materials to uplift its value, the CEO said.
Posco Chemical expanded its outside directors from two to three this year. It named Lee Ung-beom, previous the head of battery business at LG Chem, and Kim Won-yong, head of future research at law firm Kim & Chang, as new outsider directors.
CEO Min and director Jeong Suk-mo, who heads the company’s battery material business, were renamed to their posts. Kim Joo-hyun was named a new insider director.
Posco Chemical’s fiscal result for 2020 __ 1.56 trillion won in sales and 60.3 billion won in operating income __ were also approved at the meeting.