# Who are POSCO Future M's customers? Who does POSCO Future M earn revenue from?
Canonical: https://valuechain.wiki/posco-future-m · Facet: customers · Updated: 2026-07-05T02:00:55.325+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: POSCO Future M's confirmed revenue counterparties include 삼성SDI, LG에너지솔루션 plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 4 revenue edges, backed by 10 dated sources, 2 of them primary filings (as of 2026-07-05).

### 삼성SDI (high)  → /samsung-sdi.md
- metric: Contract value 40조원(KRW trillion) · 2023–2032 (10년) · Total value of 10-year high-nickel NCA cathode supply contract
- note: In January 2023 POSCO Future M (then POSCO Chemical) disclosed a 10-year (2023–2032) deal worth about KRW 40tn to supply high-nickel NCA cathodes to Samsung SDI, its largest and longest order ever, adding Samsung SDI as a new customer.
- [confirms] POSCO Group Newsroom (EN, ir, published 2023-02-15) https://newsroom.posco.com/en/posco-chemical-lands-40-trillion-krw-cathode-materials-supply-contract-for-samsung-sdis-batteries/: "It has signed a contract to supply high-nickel NCA cathode materials for electric vehicle batteries to Samsung SDI for 10 years from this year to 2032. This contract, which is worth 40 trillion KRW, is the largest and longest-term order POSCO Chemical has landed since its foundation."
- [confirms] POSCO Group Newsroom (KO, ir, published 2023-01-30) https://newsroom.posco.com/kr/포스코케미칼-삼성sdi-배터리용-양극재-40조-원-수주/: "POSCO Chemical disclosed on the 30th a contract to supply high-nickel NCA cathodes to Samsung SDI for 10 years (2023–2032); the KRW 40tn deal is its largest and longest order ever."
- [confirms] Newsis (KO, news, published 2023-01-30) https://www.newsis.com/view/?id=NISX20230130_0002174545: "POSCO Chemical disclosed on the 30th a contract to supply high-nickel NCA cathodes for EV batteries to Samsung SDI for 10 years through 2032; at KRW 40tn it is the largest and longest order since its founding."

### LG에너지솔루션 (high)  → /lg-energy-solution.md
- metric: Contract value 30.26조원(KRW trillion) · 2023–2029 (7년) · Total value of long-term high-nickel NCM/NCMA cathode supply contract
- note: In April 2023 POSCO Future M signed a 7-year (2023–2029) deal worth about KRW 30.26tn ($22.6bn) to supply high-nickel NCM/NCMA cathodes to LG Energy Solution, its largest customer; cumulative LGES cathode orders reach ~KRW 52tn.
- [confirms] POSCO Future M (KO, filing, published 2023-04-26) https://www.poscofuturem.com/pr/view.do?num=684: "It signed a contract on the 26th to supply about KRW 30.2595tn of cathodes to LG Energy Solution over 7 years from this year to 2029."
- [confirms] The Korea Herald (EN, news, published 2023-04-26) https://www.koreaherald.com/article/3113724: "Posco Future M secured a KRW 30.25tn ($22.6bn) high-nickel cathode supply contract with LG Energy Solution over seven years (2023–2029)."

### 얼티엄셀즈 (Ultium Cells) (high)
- metric: Contract value 13.77조원(KRW trillion), 집행 2.8112조 · 2023– (집행분 2023~2024 기준) · Total value and actually-executed amount of long-term hi-nickel cathode supply to GM/Ultium Cells
- note: POSCO Future M supplies high-nickel cathodes to Ultium Cells (the GM–LGES JV) under a 2023 contract worth KRW 13.77tn, but only ~KRW 2.81tn (~20%) was executed amid falling lithium prices and a US EV slowdown; first domestic-precursor cathode shipment began Aug 2025.
- [confirms] Electric Times (KO, news, published 2026-01-01) https://www.electimes.com/news/articleView.html?idxno=363682: "Of the KRW 13.77tn long-term hi-nickel cathode contract with GM since 2023, only KRW 2.81tn was actually executed; volumes went to Ultium Cells, the GM–LGES JV."
- [mentions] The Korea Herald (EN, news, published 2025-08-08) https://www.koreaherald.com/article/10550098: "Posco Future M made its first shipment of cathodes made with domestic precursors to Ultium Cells in the US."

### 미국 완성차 (비공개) (mid)
- metric: Contract value 0.671조원(₩6,710억), 연장시 1.7조 · 2027-10 ~ 2031-09 (4년) · Value of single natural-graphite anode supply contract
- note: On Oct 14, 2025 POSCO Future M disclosed a single supply contract to provide KRW 671bn ($468m) of natural-graphite anodes to a global automaker over Oct 2027–Sep 2031, its largest anode deal ever, up to KRW 1.7tn with a 6-year extension, driven by de-risking from Chinese graphite export curbs.
- [confirms] KRX KIND disclosure (KO, filing, published 2025-10-14) https://kind.krx.co.kr/common/disclsviewer.do?method=search&acptno=20251014000279: "POSCO Future M single sale/supply contract disclosure (2025-10-14, 003670) for natural-graphite anode supply."
- [confirms] The Korea Herald (EN, news, published 2025-10-14) https://www.koreaherald.com/article/10593344: "POSCO Future M will supply natural-graphite anodes over Oct 2027–Sep 2031 for KRW 671bn ($468.3m), up to KRW 1.7tn with extension; the client is undisclosed."
- [confirms] The Hankookilbo (KO, news, published 2025-10-14) https://www.hankookilbo.com/News/Read/A2025101417530000712: "It signed a contract to supply KRW 671bn of natural-graphite anodes to a global automaker over Oct 2027–Sep 2031; the counterparty is undisclosed by mutual agreement."

### POSCO홀딩스 (mid)  → /posco-holdings.md
- note: POSCO Holdings is the holding company and largest shareholder of POSCO Future M.
- [confirms] KRX KIND (KO, filing, published 2026-03-11) https://kind.krx.co.kr/common/disclsviewer.do?acptno=20260311002434&docno=&method=search: "The filing lists POSCO Holdings as the holding company controlling POSCO Future M."

Reverse side: https://valuechain.wiki/posco-future-m/suppliers.md · Ripple: https://valuechain.wiki/posco-future-m/ripple.md

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Full node: https://valuechain.wiki/posco-future-m.md · JSON: https://valuechain.wiki/posco-future-m.json