South Korean steel giant POSCO Group is considering changing the name of some of its affiliates in a move to rebrand them as sustainable materials and future technology companies.
POSCO Holdings Inc., the group’s holding company, filed a trademark application on Feb. 9 to secure POSCO DX as a company name. Representing POSCO’s efforts for digital transformation, POSCO DX joined candidates for new names of POSCO ICT Co., an engineering services provider.
The group is considering changing the names of other affiliates, POSCO Engineering & Construction Co., POSCO A&C Co. and POSCO Chemical Co., in the first half of this year to reflect the group’s eco-friendly identity in their corporate brands.
The group has bolstered branding itself as a green business leader since it launched the holding company nearly a year ago. The holding company will continue to have a critical role in the future environment-friendly materials sector, POSCO Group Chairman and CEO Choi Jeong-woo said at the time.
POSCO MC Materials, manufacturing coke for lithium-ion batteries, changed its name from POSCO PMC Tech last month to express its shift toward producing eco-friendly materials. POSCO Chemical, the battery material maker’s parent, is reviewing a name change for a similar purpose.
The group Chairman Choi has directed the name changes and rebranding, according to sources. The holding company has recently set up a strategy and planning department to rebrand the affiliates, sources added.
