South Korean steelmaker POSCO has stated that it plans to split off its steel businesses and become a holding company, which will be called POSCO Holdings Inc., through restructuring.
The splitting of the steel businesses is expected to take place on March 1, 2022.
The steel businesses will be owned by POSCO Holdings and will remain unlisted to align growth value with shareholder value.
The restructuring of the company is aimed at finding new growth businesses, SteelOrbis understands.