"The name of the game will be carbon neutral in POSCO Group. We will transform into an environmentally friendly company by 2030," said Choi Jeong-woo, chairman of Posco Holdings, at the ceremony held in Incheon on April 13 for the merger of POSCO International and POSCO Energy.
Posco International aims to increase its market capitalization from the current 3.8 trillion KRW ($2.92 billion) to KRW 23 trillion by 2030.
The company has also announced targets in food, energy and new business areas, including quadrupling its liquid natural gas (LNG) storage capacity by 2030. In addition, Posco International formed a new team last month focused on accelerating the carbon capture and storage (CCS) business development process associated with gas fields.
Following onshore wind power generation in Shinan, South Jeolla Province, Korea, a new offshore wind power project by 2027 will also help the company achieve carbon neutrality.
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