U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
TikTok Expands AI Age-Detection Technology Across Europe Amid Rising Regulatory Pressure 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
California Attorney General Orders xAI to Halt Illegal Grok Deepfake Imagery 
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine 
HKEX’s Permissive IPO Rules Could Open Opportunities for Korea to Strengthen Its Position in International Listings 
Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026 
Lululemon Founder Chip Wilson Escalates Proxy Fight to Remove Advent From Board 
Asian Currencies Trade Flat as Dollar Weakens in Thin New Year Trading 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
United Airlines Posts Record Q4 Revenue as Premium Demand Lifts Earnings 
Trump Signs Executive Order to Limit Wall Street Investment in Single-Family Homes 
China Halts Shipments of Nvidia H200 AI Chips, Forcing Suppliers to Pause Production 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
Citi Forecasts a Volatile but Ongoing Bull Market for S&P 500 in 2026 
POSCO, the South Korean steelmaker, is expanding to become one of the top lithium suppliers in the world. It is building a new plant. The company chose Argentina to be the location for its new factory.
POSCO is hoping it will be able to achieve its goal of becoming one of the world’s best lithium makers and suppliers by the year 2030. The company has reserved $830 million and directed this fund to the construction of its new facility in Argentina.
The plant will be extracting lithium hydroxide from a salt lake, so the building is set to rise near the Salar del Hombre Muerto salt lake in the northwestern part of the said country. According to The Korea Economic Daily, POSCO revealed on Dec. 16, Thursday, that its board of directors gave the go signal for the investment plan.
This is said to be the steelmaker’s first huge investment since announcing last week that it will transition into a holding business structure. The construction in Argentina is set to begin some time next year.
By 2024, POSCO’s plant is expected to extract 25,000 tons of lithium hydroxide per year. This amount is sufficient enough to make 600,000 electric vehicle batteries. In the following years, the company is planning to double the plant’s capacity.
In any case, the $830 million budget already includes expected expenses for the construction as well as the initial operating expenses. The salt lake was acquired by POSCO in 2018 for $280 million. The body of water measures 17,500 hectares and contains 13.5 million tons of lithium reserves which were estimated to be worth ₩35 trillion.
Once POSCO starts the lithium extraction in Argentina, it will become the only Korean company to produce lithium from saltwater, used batteries, and ores. Lithium hydroxide is taken out from saltwater and used with high-nickel cathode material to make batteries for EVs.
Finally, Yonhap News Agency reported that the material that POSCO will be able to extract from the Argentinian saltwater would be able to make batteries for a total of 370 million electric cars. In its home ground, the company is also laying out plans to boost its annual lithium production capacity.
