POSCO International047050.KS
About POSCO International
POSCO International combines a global trading business with energy production, operating as POSCO Group's trading and resources arm under POSCO Holdings. It trades steel and raw materials worldwide, much of it linked to the group's steel operations, and runs an energy division spanning offshore gas production in Myanmar, LNG terminals, and gas-fired power generation in Korea following its merger with the group's energy affiliate. Additional businesses include agricultural trading with overseas grain infrastructure and a components unit that manufactures drive motor cores for electric vehicles.
Earnings blend thin-margin, volume-driven trading with more concentrated energy profits, so segment mix is the first thing analysts decompose. The Myanmar gas assets are a long-standing cash generator that also carries country and reputational risk unusual for a Korean blue chip. Captive trading volumes from POSCO's steel business create the related-party dependence typical of group trading arms. The LNG-to-power chain adds regulated domestic utility exposure, while the motor core operation ties a growth option to electric vehicle production cycles.
The company carries one of the most storied names in Korean business history: it was founded in 1967 as Daewoo Industrial, the trading house on which Kim Woo-choong built the Daewoo empire. After the conglomerate's collapse, the trading arm survived as Daewoo International and was acquired by POSCO in 2010, taking its current name in 2019 as the group retired the Daewoo brand. A defining step came in 2023, when POSCO Energy was merged into the company, uniting the trader with gas terminals and power plants. Its Myanmar offshore gas project, in production since 2013, remains the emblem of its resource-development lineage.
The energy division extends beyond Myanmar: the company acquired Australian gas producer Senex Energy with a partner in 2022, adding onshore reserves, and it operates LNG terminals at Gwangyang that earn storage and regasification fees from third parties as well as group affiliates. Trading profits come from orchestrating flows, arranging logistics, trade financing, and risk management for steel and raw materials moving among hundreds of counterparties, where information and network density matter more than price direction. Indonesian palm plantations and overseas grain infrastructure ground the food resources arm in physical assets, and the drive-motor core business, with plants following automaker customers abroad, converts trading-era relationships into manufacturing revenue.
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POSCO International coverage
3 articles
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POSCO International formally launched PT Prime Agri Resources in Jakarta on June 18, completing its palm oil value chain across 154,000 hectares in Indonesia and targeting double operating profit in 2026.
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Frequently asked questions
What does POSCO International do?
POSCO International is POSCO Group's trading and energy company. It trades steel, metals, agricultural commodities, and industrial goods worldwide, produces natural gas offshore Myanmar and in Australia, operates LNG terminals and power plants in Korea, and manufactures motor cores for electric vehicles through a components subsidiary.
Who controls POSCO International?
POSCO Holdings, the group's listed holding company, is the controlling shareholder following the 2010 acquisition of the former Daewoo trading house. POSCO Holdings itself is widely held with no controlling owner, so governance flows through professional group management. Minority shares trade publicly on the Korean stock market.
How can foreign investors get exposure to POSCO International?
Shares trade on the Korea Exchange under ticker 047050. Foreign investors access them through brokerages that support Korean equities, after completing the standard registration, or indirectly through funds tracking Korean indexes that include the company. Direct KRX purchase remains the primary route, as the company's equity is listed domestically.
Answers are editorial summaries for general information, not investment advice.
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