AllAnalyst Report
logoMorningstarMarch 31, 2021

POSCO: Posco’s Fiscal 2020 Hit by Virus but in Line With our Expectation; FVE Increased to KRW 270,000

Basic Materials
Current Price
Fair Value
Economic Moat

Posco is the largest steel producer in South Korea and one of the top steel producers globally. It mainly produces flat steel and stainless steel from its two integrated steel facilities. It is exposed to the auto, shipbuilding, home appliance, engineering, and machinery industries. Posco controls around 40% of South Korean domestic market share and exports around 45%-50% of its steel products overseas, mainly to Asian countries. Through diversification, around 15%-20% of its revenue comes from non-steel and non-trading-related businesses.

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Analyst Profile

Ken Foong

Equity Analyst
Ken Foong is an equity analyst for Morningstar Investment Adviser Singapore Pte Ltd., a wholly owned subsidiary of Morningstar, Inc. He covers the basic-materials sector.Before joining Morningstar in 2017, Foong spent three years as an equity analyst at Goldman Sachs in London, where he covered the European steel sector.Foong holds a bachelor’s degree in accounting and finance from the London School of Economics and Political Science. He also holds the Chartered Financial Analyst® designation.