![\"[CAPTIONS]
Officials,](\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/07\/news-p.v1.20260710.099108803c46418fbfab79dea9f4f90c_P1.jpg\"\/ "\\"POSCO")
[CAPTIONS]
\nOfficials, including POSCO Holdings Chairman Jang In-hwa (from right), Climate, Energy and Environment Minister Kim Sung-hwan, POSCO International President Lee Kye-in, and NewCom Chairman Batarmunkh Boldbaatar, pose for a photo after signing a memorandum of understanding for energy business cooperation between POSCO International and Mongolian energy company NewCom in Ulaanbaatar, Mongolia, on the 9th (local time).\/Ministry of Climate, Energy and Environment<\/p>\n
POSCO Group is entering Mongolia’s energy transition project as it moves to tap the Central Asian energy market.<\/p>\n
POSCO International (047050.KS) signed a memorandum of understanding (MOU) for energy business cooperation with Newcom LLC, a leading local energy and infrastructure company, in Ulaanbaatar, Mongolia, on the 9th, the company said on the 10th. POSCO Group Chairman Chang In-hwa, POSCO International President Lee Kye-in, and Newcom Chairman Batmunkh Boldbaatar attended the signing ceremony.<\/p>\n
Through the agreement, the two companies plan to advance an energy project worth about $100 million in phases. The core of the cooperation is a heat pump-based district heating business that utilizes waste heat from thermal power plants. A heat pump is an energy transition technology that recovers discarded thermal energy and reuses it for heating, which can help address winter air pollution problems in Mongolia, where reliance on coal heating is high. Under the project structure, POSCO International will oversee business development, project financing (PF), and technology and EPC (engineering, procurement, and construction) management, while Newcom will handle local investment, permits, and site acquisition. The two companies are also reviewing plans to expand the scope of cooperation into the renewable energy sector.<\/p>\n
“Mongolia is a strategic hub with abundant energy resources and high growth potential,” Chairman Chang said. “Through a close partnership, we will contribute to building local energy infrastructure and use it as a bridgehead for expanding our Central Asian energy business.”<\/p>\n
Mongolia has abundant renewable energy resources such as solar and wind power, but suffers from serious air pollution caused by its coal-centered winter heating structure, making energy transition a national priority. POSCO International plans to leverage this policy direction to continue identifying follow-up projects and accelerate its entry into the Central Asian energy market.<\/p>\n
Meanwhile, at its “CEO Investor Day” on the 2nd, POSCO Group selected energy resources as a core future business and presented a vision to grow into a sustainable energy resource partner through the expansion of its liquefied natural gas (LNG) business and full-fledged entry into the renewable energy market.<\/p>\n","protected":false},"excerpt":{"rendered":"[CAPTIONS] Officials, including POSCO Holdings Chairman Jang In-hwa (from right), Climate, Energy and Environment Minister Kim Sung-hwan, POSCO…\n","protected":false},"author":2,"featured_media":81098,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[380],"tags":[43565,43564,43563,257,43562,442,2620,465,3490],"class_list":["post-81097","post","type-post","status-publish","format-standard","has-post-thumbnail","category-posco","tag-central-asia-energy-market","tag-heat-pump-district-heating","tag-mongolia-energy-transition","tag-mou","tag-newcom","tag-posco","tag-posco-group","tag-posco-international","tag-renewable-energy"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/81097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=81097"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/81097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/81098"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=81097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=81097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=81097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}