Posco Future M CEO Kim Jun-hyung speaks at an event to announce the company's future business goal Monday in southern Seoul. [POSCO FUTURE M] Posco Future M aims to up its revenue 13-fold to 43 trillion won ($32 billion) by 2030 through aggressively expanding its battery materials business. The company also seeks to boost operating profit 20-fold to 3.4 trillion won, making the entity a top player in the global market with 1 million tons of cathode production capacity. Cathodes are a major material in EV batteries, accounting for 40 percent of total battery costs.

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