[6-K] POSCO HOLDINGS INC. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

POSCO HOLDINGS INC. plans a major long-term investment to build an integrated steel mill in Odisha, India through a 50:50 joint venture with JSW. POSCO will contribute about KRW 1,609,551,800,000 (approximately USD 1,093 million) in equity to Saffron Resources Private Limited, a JSW subsidiary that will become the joint venture company.

The equity investment equals 4.7% of POSCO’s equity capital and 3.2% of its total assets, and will be paid in stages through 2031, with the final payment scheduled by 2031-12-31. POSCO’s total investment in the project is expected to reach USD 3,644 million, including USD 2,551 million of debt financing subject to separate board approval.

The project aims to respond to changes in the Indian steel market and expand POSCO’s presence in automotive steel. Completion and structure are subject to conditions precedent, and the number of shares to be acquired and ultimately held in Saffron will be disclosed once finalized.

Insights

Steel industry and capital allocation analyst

POSCO commits sizable capital to an Indian JV steel mill with staged funding and conditions attached.

The disclosure outlines POSCO’s plan to invest about KRW 1.61 trillion (around USD 1.09 billion) in equity into Saffron Resources Private Limited, forming a 50:50 joint venture with JSW to build an integrated steel mill in Odisha, India. POSCO’s total project commitment is USD 3,644 million, combining equity and planned debt.

The equity portion represents 4.7% of POSCO’s equity capital and 3.2% of its total assets, indicating a meaningful but not transformational outlay. Payments will occur in stages through 2031, easing near-term cash pressure but extending execution risk, while debt financing of USD 2,551 million still awaits separate board approval and a finalized plan.

The strategy targets growth in India’s steel market and the automotive steel segment, but actual returns will depend on project execution, market conditions in India and the financial performance of Saffron, which currently shows net losses. The filing notes that structure and implementation may change based on conditions precedent, so subsequent updates and approvals will shape the project’s ultimate impact.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 6-K: How Foreign Companies Report to the SEC →

Accepted by SEC EDGAR 04/20/2026 - 07:55 AM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15D-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April, 2026

Commission File Number: 1-13368

POSCO HOLDINGS INC.

(Translation of registrant’s name into English)

POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, 06194

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

Decision on Acquisition of Shares or Investment Certificates of Other Corporation

Subsidiary company POSCO ‘s material business matters to report

Subsidiary company				POSCO		‘s material business matters to report
1. Details of issuing company		Name of company		Saffron Resources Private Limited
		Nationality		India		Representative		Mr. Pavan Kumar Mittal and 2 others
		Capital stock (KRW)		158,100,000		Relationship to company		-
		Total number of shares issued		1,000,000		Main business		Mining business
2. Details of acquisition		Number of shares to be acquired		-
		Acquisition cost (KRW)		1,609,551,800,000
		Equity capital (KRW)		34,193,497,589,134
		Ratio to equity capital (%)		4.7
		Classified as a large-sized corporation?		Yes
3. Number of shares held and shareholding ratio after acquisition		Number of shares held		-
		Shareholding ratio(%)		50
4. Acquisition method				Cash Acquisition
5. Purpose of acquisition				Establishment of an Integrated Steel Mill JV in Odisha, India
6. Scheduled acquisition date				2031-12-31
7. Subject to filing of a material fact report on asset acquisition?				N/A
-Total assets (as of the end of the latest fiscal year) (KRW)				50,280,606,138,410		Acquisition cost /Total assets(%)		3.2
8. Deemed a backdoor listing?				N/A
-Plan to increase capital through third-party allotment within six months?				N/A

9. Satisfying backdoor listing requirements for the issuing company (another corporation)?				N/A
10. Date of board resolution (decision date)				2026-04-17
-Attendance of outside directors		Present (No.)		2
		Absent (No.)		-
-Attendance of auditors (members of Audit Committee who are not outside auditors)				Present
11. Subject to reporting to the Fair Trade Commission?				No
12. Signed a put option contract, etc.?				No
-Details of agreements				-
13. Other matters to be factored into investment decisions				- This disclosure pertains to the investment made by POSCO alongside JSW to jointly construct an integrated steel mill in Odisha, India, as a means to respond to changes in the Indian steel market and to continuously expand market share in the automotive steel sector. - The structure involves our company acquiring new shares in Saffron Resources Private Limited (hereinafter “Saffron”), a subsidiary of JSW, whereby Saffron will be restructured into a Joint Venture Company (JVC) with a 50:50 shareholding ratio between POSCO and JSW. - This investment is subject to the satisfaction of certain conditions precedent, and the implementation and structure of the project may change depending on the fulfillment of such conditions. - Number of Shares to be Acquired under ‘2. Details of acquisition’ and Number of Shares Held under ‘3. Number of shares held and shareholding ratio after acquisition’ will be provided with an amended disclosure once they are finalized. - Under ‘2. Details of Acquisition,’ Acquisition Cost (in KRW) is approx. USD 1,093 million, converted to KRW based on the SMBS exchange rate of KRW 1,472.60 per dollar, as of April 17, 2026. This is the total capital value that POSCO will contribute by the end of 2031, the final payment year, toward the construction of the integrated steel mill in India.

				POSCO’s total investment amount is US$3,644 million. Of this, the debt portion of US$2,551 million will be submitted for a separate Board approval and disclosed once the financing plan is finalized. - ‘6. Scheduled acquisition date’ is stated as the end of 2031, which is the final year of capital payment from the contribution amount for the integrated steel mill in India. The payment will be executed in stages during the construction period. - The aforementioned schedule and payment details are subject to change based on the project progress. Disclosure on material business matters of the subsidiary company ○ Name of subsidiary : POSCO ○ Ratio of total assets : 57.7% ○ Ratio of total asset is based on the statement of financial position of POSCO HOLDINGS INC as of December 31, 2025.
				Related disclosure		-

[Condensed Financial Statements of Issuing Company]

(KRW)

Category		Total assets		Total liabilities		Total shareholders’ equity		Capital stock		Sales		Net income		External auditor’s opinion		External auditor
Current fiscal year		23,290,057,696		22,442,421,864		847,635,831		171,357,328		-		-2,454,134,017		Unqualified opinion		A Bhattachrjee & Co. Chartered Accountant
Previous fiscal year		18,830,804,224		17,710,642,857		1,120,161,367		1,615,374		-		-26,446,997		Unqualified opinion		A Bhattachrjee & Co. Chartered Accountant
Two fiscal years prior		17,544,319,635		16,418,334,403		1,125,985,232		1,585,805		25,438,796		57,306,463		Unqualified opinion		STAS & Associates Chartered Accountants

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

						POSCO HOLDINGS INC.
						(Registrant)
Date: April 20, 2026				By		/s/ Han, Young Ah
						(Signature)
						Name: Han, Young Ah
						Title: Executive Vice President