LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure 
Shell M&A Chief Exits After BP Takeover Proposal Rejected 
Blackstone Leads $400 Million Funding Round in Cyera at $9 Billion Valuation 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
POSCO and Samsung Electronics are cooperating for the supply of steel products. The companies have signed a multi-year deal which will also strengthen their business partnership.
The Pohang-headquartered steelmaker said on Tuesday, April 25, that this is its first long-term contract with Samsung Electronics. The signing ceremony actually took place last month but was only made public this week.
Korea Joongang Daily reported that Han Jong Hee, Samsung Electronics’ head of the DX division, and Kim Hak Dong, Posco’s vice chairman, met up for a conference on Tuesday at Samsung’s main plant in Suwon, Gyeonggi. They discussed about expanding their cooperation in various fields of business, including technology development. They have also brought up the possibilities for more joint projects in the future.
Under the three-year agreement, POSCO will supply steel sheets - cold-rolled, coated steel, and electrical steel to Samsung Electronic’s home appliance and display units until 2026, as per The Korea Economic Daily. The tie-up is aimed at ensuring that the Seoul-based electronics company will have a stable supply of steel products using the steelmaker’s global supply chain networks.
The deal will also increase the volume of steel that POSCO is supplying to Samsung Electronics by 25%. It was added that the shipment of the new batch of orders to the latter will start this year. Moreover, aside from the steel sheets, POSCO will also provide color-coated steel and Posco Magnesium Alloy Coating Products or PosMAC to Samsung.
“Our steel supply to Samsung will increase 25% from the current level. In addition to cold-rolled, coated and electrical steel products, we will also provide Samsung with color-coated steel through our affiliate POSCO Steeleon,” an official at POSCO said.
The steelmaker’s VP also stated, “We believe that Posco can contribute to ensuring stable raw materials supply for Samsung Electronics, with our supply chain network of global production bases and processing centers.”
Photo by: Babak Habibi/Unsplash
