POSCO Future M will supply SK On with lithium iron phosphate (LFP) cathode materials valued at approximately 1.1 trillion won ($815 million) from 2027 through 2029. SK On will use the materials in LFP battery cells made for energy-storage systems at its Georgia plant in the United States. The companies are building a non-Chinese supply chain using lithium that POSCO Group secured from salt lakes in Argentina, while POSCO Future M converts part of a high-nickel cathode line in Pohang for LFP production. The agreement follows SK On's ESS supply arrangements with Flatiron Energy and NeoVolta Power and includes plans for discussions on additional contracts after 2029. Earlier descriptions of the contract cited 1.0742 trillion won and a potential extension through 2031, while subsequent reports placed its dollar value at $846.15 million; the latest report values the 1.1 trillion-won agreement at $815 million.