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[Alpha Biz=(Chicago) Reporter Paul Lee] Market capitalization of POSCO Holdings, the holding company of POSCO Group, surpassed Hyundai Motor. Analysts say that the change from traditional chimney companies to high-tech secondary battery materials companies has led to a rise in stock prices.
On the 21st, POSCO Holdings closed at 551,000 won, up 10.75%. It has risen by 42% this month alone. POSCO Holdings' market capitalization was 46.26 trillion won, ahead of Hyundai Motor (42.1793 trillion won). It ranked 7th (excluding preferred stocks) by market capitalization. It is the first time in 12 years and four months that POSCO Holdings' market capitalization has risen from Hyundai Motor since March 28, 2011.
POSCO Future M, a key subsidiary of POSCO Group's secondary battery and anode material manufacturer, also rose 5.60% to close at 495,500 won. POSCO FutureM's market capitalization is 37.9182 trillion won, ranking ninth, beating EcoProBM (37.2623 trillion won) and Kia (33.8521 trillion won).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
