New Corporate Value Up Plans of POSCO Holdings and POSCO International

• Both POSCO Holdings (005490 KS) and Posco International Corporation (047050 KS) provided solid, new Corporate Value Up reports.

• However, POSCO International's plan is much better. POSCO International plans to provide total shareholder returns of 50% which is more than double of its previous total shareholder return plan.

• This sharp increase in shareholder returns is likely to lead to share outperformance of POSCO International relative to the market in the next several months.

Conclusion First

Both POSCO Holdings (005490 KS) and Posco International Corporation (047050 KS) provided solid, new Corporate Value Up reports.

However, POSCO International's plan is much better. POSCO International plans to provide total shareholder returns of 50% which is more than double of its previous total shareholder return plan. This sharp increase in shareholder returns (through share buyback/cancellation and dividends) is likely to lead to share outperformance of POSCO International relative to the market in the next several months.

POSCO Holdings plans to cancel 6% of outstanding shares over the next three years. Previously, POSCO Holdings announced that it would cancel about 50% to 60% of its treasury shares this year. The company has already cancelled 2% of its own shares and purchased and cancelled 100 billion won worth of additional shares.