PwC provided advisory on POSCO's transition to a holding company through split-off

PwC Korea Deals team is delighted to have advised POSCO for its transition to a holding company through the split-off of POSCO, effective from March 1, 2022. 

POSCO is the largest steelmaker in Korea with KRW 60 trillion in assets and net assets of KRW 50 trillion. In this split-off, transition, the new entity has maintained its involvement in the steel business, while the parent company has become a POSCO Holdings Inc. POSCO Holdings will extend its focus beyond steelmaking to encompass green energy materials such as secondary battery materials, lithium, nickel, hydrogen, and more. 

The transition to a holding company was part of a restructuring of its governance framework to facilitate efficient decision-making for bold investments in low-carbon and environmentally friendly production systems in the steel industry, as well as for new growth ventures. 

Based on PwC's extensive experience in past corporate restructuring projects, PwC provided advisory services for POSCO's transition to a holding company, ensuring a smooth progression and successful completion. 

The PwC team advising on the deal was led by Joon-Seon Min and Je-Heon Heo.