POSCO Holdings and Woori Bank have teamed up to enhance the competitiveness of their group’s secondary battery material business company for a period of two years with financial support amounting to 1 trillion won. The agreement to strengthen the competitiveness of secondary battery core materials was signed at the Woori Bank headquarters on the 23rd. At the event, POSCO Holdings’ CSO and CEO Jeong Ki-seop, as well as Woori Bank President Cho Byung-kyu, were in attendance. Jeong Ki-seop expressed that the agreement would help new secondary battery material business companies within the group to secure liquidity in advance, supporting stable operations and continuous investments for future competitiveness enhancement. Cho Byung-kyu stated that Woori Bank will actively collaborate with POSCO Group, which has laid the foundation for national growth in the steel industry, to strengthen global competitiveness in the field of secondary battery materials. Through this agreement, four companies within the POSCO Group’s secondary battery material business company, including POSCO P-Filbarry Lithium Solution (P-PLS), POSCO HY Clean Metal (P-HYCL), POSCO Lithium Solution (P-LS), and SNNC, will receive various and expedited financial support, totaling 1 trillion won over the next two years, for facility investments, and raw material and product imports and exports. POSCO P-Filbarry Lithium Solution operates the first domestic hydroxide lithium-based hydroxide production plant, having completed the construction of its first plant last year and preparing for the opening of the second plant this year. POSCO HY Clean Metal runs an eco-friendly secondary battery recycling plant, which was completed in July last year. Additionally, POSCO Lithium Solution is establishing a lithium production plant based in Argentina. SNNC is a nickel production plant for steel and secondary batteries located in Gwangyang, Jeonnam. Furthermore, POSCO Group introduced its strategy for advanced secondary battery material business through the Value Day in July, aiming to achieve about 11 trillion won in group sales in the secondary battery material business by 2026. This strategy includes completing the full value chain, enhancing business competitiveness, and seizing the next-generation battery material market. This year marks the full-scale operation of all secondary battery material supply systems held by POSCO Group, focusing on completing the Full Value Chain to provide customized integrated solutions for customers, sharing global competitiveness expertise from the steel business into the secondary battery material business, and creating group synergies to drive the substantial growth of the secondary battery material business.