• Skip to main content

    Market Segment

    November 3, 2025

    POSCO aims for at least 10% stake in Cliffs, over $700M investment: Report

    Written by Ethan Bernard

    South Korean steelmaker POSCO is set to take at least a 10% stake in Cleveland-Cliffs and invest over $700 million, according to a South Korean media report.

    Recall on Thursday the Cleveland-based steelmaker announced it had signed a Memorandum of Understanding in September with POSCO for a “transformative partnership.”

    At that time, Cliffs said another announcement of a definitive agreement is expected in Q4’25 or Q1’26. The company sees the deal closing at an unspecified point next year.

    An article in The Korea Economic Daily Saturday, citing people familiar with the matter, provided more detail.

    “With the partnership, the Korean steel conglomerate is expected to invest more than 1 trillion won, or over $700 million, to acquire at least a 10% stake in the US steelmaker by next year,” the article said.

    A request for comment from POSCO and Cliffs was not returned by time of publication.

    Ethan Bernard

    Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

    Read more from Ethan Bernard

    Latest in Market Segment