Korea Herald reported that revamped POSCO International, a merged entity of POSCO’s trading arm POSCO International and power generation unit POSCO Energy, has been launched with the former POSCO President Mr Jeong Tak as its new CEO. Under Mr Jeong’s leadership, Posco International is expected to strengthen its existing businesses that are dealing with steel and secondary battery materials, while finding new growth engines for the future. Through the latest merger with the liquefied natural gas plant operator, POSCO International now has a full LNG product chain from procurement and production to storage and power generation, and the company plans to increase the resilience of its natural gas supply chains through future investments. Mr Jeong’s in his inaugural address said “POSCO International will utilize its trading capacity to secure synergy in POSCO’s major businesses that are dealing with energy, steel, food and eco-friendly resources. POSCO will invest further in new businesses to bring a competitive edge to the company.” With the latest merger, POSCO International has scaled up, with annual sales surpassing KRW 40 trillion (USD 31 billion) and its annual operating profit reaching around KRW 1 trillion. Its EITDA will increase to KRW 1.7 trillion won after the corporate restructuring from KRW 1.3 trillion last year. POSCO International’s debt ratio will also go down to around 160% from 200%, improving its financial stability.