The Korea Times
Volvo Group Korea said Monday it signed a memorandum of understanding with POSCO to jointly develop high-performance materials and manufacturing technologies for next-generation construction equipment. The agreement, signed Friday at Volvo Group Korea's Changwon plant, brings the two companies together to prepare for the shift toward electrification and carbon neutrality in the construction machinery sector. The ceremony was attended by officials at Volvo Group Korea and POSCO’s technical research institute, the automaker said. The companies said they will collaborate across the full development cycle, from material research to application and validation in equipment, as demand grows for lighter machinery and stronger materials to reduce carbon emissions. Under the agreement, the two companies will share data and technology related to electrification and carbon neutrality, jointly develop materials for next-generation construction equipment, conduct application testing and technical verification and expand technical exchanges through seminars. The companies said their focus will be on s
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