POSCO-Star Group JV

The POSCO-Star Group joint venture is a partnership between POSCO International Corporation and Star Group Industrial Co., a South Korean producer of rare earth permanent magnets, proposed in 2023 to establish non-China permanent magnet manufacturing in the United States. Under the plan, Star Group would lead production of sintered neodymium-iron-boron (NdFeB) rare earth permanent magnets, while POSCO International would use its global trading network to handle sales and distribution. The partners were reported in 2023 to be evaluating U.S. sites in Texas, Tennessee and Arizona for a magnet plant with an initial capacity of roughly 3,000 metric tons per year, expandable to 5,000 metric tons, targeting electric vehicle traction motors and other clean-energy and defense applications. The magnets would use neodymium, praseodymium, dysprosium and terbium.

Announced in 2023; no evidence found that it was formed. POSCO International’s May 2026 U.S. rare-earth joint venture agreement is with ReElement Technologies, not Star Group.