The entrance of POSCO Tower Yeoksam in Seoul, photographed May 22, 2026. Photo by Hyojoon Jeon / UPI
May 22 (Asia Today) -- POSCO International said Friday it plans to enter the U.S. rare earth separation, refining and permanent magnet business through a joint investment with ReElement Technologies.
The South Korean trading company said it signed an agreement with the U.S. firm to pursue a joint venture for rare earth separation and refining production in the United States.
The signing ceremony was held in Washington, D.C., with POSCO International CEO Lee Kye-in, ReElement Technologies CEO Mark Jensen, U.S. government officials and South Korean Embassy officials in attendance.
The companies plan to jointly invest $200 million to build a rare earth separation and refining plant with annual capacity of 6,000 tons. They also plan to develop an integrated production complex that can later produce permanent magnets.
