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POSCO international operations and disputes

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2026-07-26 13:56 UTC → 2026-07-27 22:18 UTC · added removed

On 22 July 2026, Argentina’s Civil and Commercial Court in Salta froze POSCO Argentina’s bank accounts and imposed a multi‑million‑dollar embargo. The measure stems from embargo over a civil case alleging claim that the South Korean miner’s company’s lithium project displaced local suppliers in the Sal de Oro operation and rerouted work to contractors linked to foreign firms. suppliers. POSCO said the embargo amounts to roughly USD 350,000 and framed described the issue as a contract‑performance dispute with a subcontractor, while and the court‑ordered suspension remains in effect. force. Four days later, on 26 July 2026, POSCO Group presented unveiled a long‑term growth plan strategy targeting US$128 billion in revenue by 2035 and a major expansion of expanding lithium production output to 173 000 tonnes per year by 2033. The announcement also plan highlighted a looming debt issue problem in Brazil, where creditors claim allege liabilities of over exceeding R$ 1 billion tied linked to the bankrupt subsidiary Posco Engenharia e Construção do Brasil. The On 27 July 2026, Brazilian matter was raised ahead of a President Luiz Inácio Lula da Silva and South Korean delegation visit President Lee Jae‑myung announced a joint working group to São Paulo, underscoring the company’s parallel pursuit of global growth accelerate a Mercosur‑South Korea free‑trade agreement. The leaders signed memoranda covering critical minerals, aerospace, energy and other sectors, pledging deeper cooperation across the need to resolve regional financial disputes. Together, these events illustrate critical‑mineral supply chain. The initiative aligns with POSCO’s simultaneous push to expand its lithium and steel businesses while contending with legal expansion goals and its ongoing financial challenges in Brazil, underscoring a broader South Korean push to secure mineral partnerships in South America.

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  1. 2026-07-27 22:18 UTC POSCO international operations and disputes
  2. 2026-07-26 13:56 UTC POSCO international operations and disputes

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