POSCO FUTURE M

Posco Future M CEO Eom Gi-chen on Monday vowed to capture over 7.4 trillion won ($5 billion) in sales revenue by 2027, leveraging the electric vehicle supply chain’s decreasing reliance on China.

“Capitalizing on the opportunities arising by the slowdown in the demand for electric vehicles, we aim to enhance productivity by 30 percent through expanding facilities and developing production process technologies to secure unmatched manufacturing competitiveness,” said Eom, during a shareholders meeting earlier in the day, in Pohang, North Gyeongsang Province, where he was officially appointed as CEO and internal director of the board.