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South Korean company POSCO confirmed continuation of its investments in Argentina

Tuesday, 26 December 2023
Information for the Press N°: 
604/23

Foreign Minister Diana Mondino held a working meeting today with the vice president of POSCO Argentina, Chung SungKook, who confirmed the company’s interest in continuing to invest in lithium in Argentina. This project constitutes the company’s largest investment outside South Korea in the last 60 years.

In that context, Foreign Minister Mondino highlighted the importance of the mining business to our country and its significance in terms of energy transition, especially with respect to lithium exploration and extraction and the production of renewable energies.

In this regard, Chung SungKook referred to his projects in Argentina and his plans to increase the lithium production in the coming years, as well as to the possibility of exploring new projects related to green hydrogen. The executive of POSCO Argentina underscored that the company is supplied by local production—as far as supply allows it—and that it employs local workers, so as to contribute to the development of provincial communities.

POSCO is deemed to be the fifth largest South Korean business group and one of the world’s main steelmakers. The company supplies 10% of the world's steel allocated to the automotive industry. It is present in 53 countries, it has 100,000 employees worldwide and its annual turnover exceeds USD 70 billion.

This January, POSCO worldwide CEO Jeong-Woo Choi will be visiting Argentina to monitor the development of the Sal de Oro project and to plan new investments in our country.

 

Gallery: 
La compañía coreana POSCO confirmó la continuidad de sus inversiones en la Argentina
La compañía coreana POSCO confirmó la continuidad de sus inversiones en la Argentina
La compañía coreana POSCO confirmó la continuidad de sus inversiones en la Argentina