POSCORE produces high-value magnetic powders by recycling electrical steel scrap from steel manufacturing processes. Its materials are used as raw inputs for motor cores in EVs, appliances, generators, and other motors. The company began as a POSCO in‑house venture and incorporated in 2023, and its founding team consists of POSCO alumni. POSCORE has been recognized in its first year—selected for the 2023 early startup package, winning D.CAMP 2023 D-Day All-Star, and chosen as a Samsung C-Lab Outside company. Management aims to replace expensive imported magnetic powders through domestically produced, cost-competitive, high-performance materials and to expand supply into appliances and panel components. The company targets more than 100 billion KRW (1,000억 원) in revenue by 2028. Financially, POSCORE has just completed a seed financing following its 2023 incorporation.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Jan 2024