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Posco America Corp. revealed that it is moving its headquarters to Washington, D.C. The firm said it is leaving Atlanta and relocating to the capital of the United States to boost its tie-in with the federal government as well as the US Congress.
Moreover, the Posco Group believes that Posco America’s change of address will also help the company have a better response to the Inflation Reduction Act (IRA). The relocation may also come in handy for matters related to new policies involving key minerals such as nickel, graphite, aluminum, lithium, cobalt, and manganese.
As per The Korea Herald, Posco America announced the relocation of its HQ on Wednesday, Aug. 30. The company’s president, Do Han Eui and staff members are set to start working at their new office as early as this week.
The subsidiary of Poscho Holdings said that its Washington head office is located inside a building owned by the Korea International Trade Association. The company will also send some employees from Posco’s office in South Korea to help with trade affairs.
The new HQ will manage both the South and North American businesses of Posco Future M and Posco International. In particular, the operations that the group will supervise involve secondary battery materials. Later on, the firm will also search and invest in new opportunities to expand its business.
In any case, this is the first time that Posco America has moved to a new office since its transfer to Atlanta from New Jersey in 2016. Pulse News reported that at the time, the company’s purpose for the relocation was to strengthen its local sales support for automotive steel after its client, Hyundai Motor Co., put up its production base in Georgia.
Finally, the number of employees in the Washington office is expected to increase - from less than 10 to up to 20. Posco’s HQ in Seoul may only dispatch one or two staff to help with the operation.
Photo by: Posco Newsroom
