SEOUL -- Global steel powerhouse Posco aims to crack the growing field of lithium-ion batteries, as the South Korean company strives to expand beyond its traditional business into areas with a bright future such as electric vehicles.
Posco hopes to become less reliant on its mainstay steel business, which faces competition from rising Chinese rivals and pressure to make costly investments toward reducing greenhouse gas emissions. But history is littered with failed attempts by steelmakers to enter new operations, and Posco faces an uphill battle.
