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    A005490   KR7005490008

POSCO HOLDINGS INC.

(A005490)
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End-of-day quote Korea Stock Exchange  -  2022-08-15
258000.00 KRW   -0.58%
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POSCO : and IGE (Institute for Global Economics) held the ‘ESG Global Summit' international conference.

06/28/2022 | 04:51am EDT

Discussed the roadmap for sustainable growth in the era of great industrial transformation, including measures to advance ESG management and achieve carbon neutrality in the Grand InterContinental Seoul Parnas Hotel on June 17th

Ki-moon Ban, the former Secretary-General of the United Nations, Cheol-soo Ahn, the leader of the People Power Party, Ki-sun Bang, the 1st Vice Minister of Economy and Finance, Jeong-woo Choi, CEO of POSCO Group, Kwang-woo Jun, Chairman of Institute for Global Economics, and Henny Sender, the managing director of BlackRock attended the event

Ki-moon Ban, the former Secretary-General of the United Nations said, "Carbon neutrality and ESG are in close contact with the great transformation of human civilization… we should go together without anyone left behind."

Jeong-woo Choi, CEO of POSCO Group said, "Now is the era of ESG management… We will be reborn as a leading eco-friendly future material company in the carbon-neutral era."

On the 17th, POSCO held the 'ESG Global Summit' international conference with IGE (Institute for Global Economics) at Grand InterContinental Seoul Parnas Hotel.

Domestic and foreign experts in the fields of eco-friendly energy policy, climate, and international trade participated in the conference to discuss the direction of sustainable growth in the era of great industrial transformation, as well as strategic direction and policy alternatives for the industry.

The co-organizer, Jeong-woo Choi, CEO of POSCO Group, Kwang-woo Jun, Chairman of Institute for Global Economics, Ki-moon Ban, the former Secretary-General of the United Nations, Cheol-soo Ahn, the leader of the People Power Party, Ki-sun Bang, the 1st Vice Minister of Economy and Finance, and Henny Sender, the managing director of BlackRock attended the event.

Ki-moon Ban, the former Secretary-General of the United Nations said in his congratulatory speech, "Carbon neutrality and ESG go beyond industry and economy, and are in close contact with the great transformation of human civilization. In this era of transition, we should go together without anyone left behind."

Cheol-soo Ahn, the leader of the People Power Party said, "We will use the carbon-neutral implementation in response to the global decarbonization trend as an opportunity to transform the green economy." "We will examine related policies and alternatives to ensure that eco-friendly growth strategies in the carbon-neutral era are well implemented," he emphasized.

Ki-sun Bang, the 1st Vice Minister of Economy and Finance said, "We are living in the era of a black tide in which crises and disasters occur simultaneously and successively. I hope today's event will be a meaningful occasion to overcome the current economic crisis and explore the possibility of great transformation and sustainable growth,"

Jeong-woo Choi, CEO of POSCO Group said, "In the changing times represented by ESG management and stakeholder capitalism, companies must create a future-oriented vision that encompasses economic and social values. POSCO Group will be reborn as a leading eco-friendly future material company in the carbon-neutral era based on the corporate citizenship management philosophy over the holding company system transformation."

Henry A. Fernandez, CEO of MSCI (Morgan Stanley Capital International) said in the online keynote speech, "Uncertainty is greater than ever due to COVID-19 and growth slowdown. We must work together to prepare for the challenging future all over the world."

The conference consisted of keynote speeches and panel discussion sessions on four themes: △ advancing ESG as a central corporate strategy △ Reshaping the international order and global economic landscape △ The advent of the new international trade regime △ Industrial growth strategy in the age of carbon neutrality.

In particular, in the carbon neutrality session, Hee Kim, Senior Vice President of POSCO, who is an advisory member of the Presidential Advisory Council on Education, Science & Technology, participated in a discussion panel and explained global eco-friendly technology trends, POSCO's development status of hydrogen reduction steel, and its 2050 carbon-neutral practice strategies.

Senior Vice President Kim said, "POSCO will secure eco-friendly technology and operational competitiveness and invest in electric furnaces and develop low-carbon operation technologies to respond flexibly to the market and customers' demands for low-carbon products, and ultimately achieve carbon neutrality by accelerating the development of hydrogen reduction steel technology."

Meanwhile, Henny Sender, the managing director of BlackRock who attended the conference visited the POSCO Center in Seoul the day before the conference and met with Hag-dong Kim, Vice Chairman & CEO of POSCO, and Jung-son Chon, Senior Executive Vice President of POSCO Holdings to hear about the management activities of POSCO Group, which are quickly settling down with a holding company system, including its new future projects, carbon neutrality, and ESG management. BlackRock is the world's largest multinational investment management corporation based in the United States and is a major shareholder with a 5.02% stake in POSCO Holdings.

POSCO has designated as its signature brand, one of the five brands for corporate citizenship, and is taking the lead in realizing a low-carbon circulation economy in work and daily life with the aim of achieving carbon neutrality by 2050.

▲ Jeong-woo Choi, CEO of POSCO Group is giving a welcome speech at the 'ESG Global Summit' international conference.

▲ POSCO held the 'ESG Global Summit' international conference with IGE (Institute for Global Economics) at Grand InterContinental Seoul Parnas Hotel on June 17th. From the third left in the front row of the photo, Jeong-woo Choi, CEO of POSCO Group, Cheol-soo Ahn, the leader of the People Power Party, Ki-moon Ban, former Secretary-General of the United Nations, Ki-sun Bang, the 1st Vice Minister of Economy and Finance.

Disclaimer

POSCO Holdings Inc. published this content on 28 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 June 2022 08:50:09 UTC.


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Financials
Sales 2022 88 375 B 67,4 B 67,4 B
Net income 2022 5 296 B 4,04 B 4,04 B
Net Debt 2022 2 949 B 2,25 B 2,25 B
P/E ratio 2022 3,99x
Yield 2022 6,18%
Capitalization 19 468 B 14 856 M 14 839 M
EV / Sales 2022 0,25x
EV / Sales 2023 0,22x
Nbr of Employees -
Free-Float 85,5%
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Number of Analysts 21
Last Close Price 258 000,00 KRW
Average target price 369 904,76 KRW
Spread / Average Target 43,4%
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Jeong-Woo Choi Chairman & Co-Chief Executive Officer
In-Hwa Chang Co-President, Co-CEO & Director
Jung-Son Chon Co-Chief Executive Officer & Director
Seung-Kyu Lim Senior Managing Director & Head-Finance
Seong-Wook Lee Head-Legal & Compliance Support
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