Posco Future M (KRX:003670) secured a supply contract of lithium iron phosphate (LFP) cathode materials for secondary batteries from SK Innovation (KRX:096770) subsidiary SK On, according to a Wednesday filing with the Korea Exchange.
The contract, valued at 1.074 trillion won, is valid till Dec. 31, 2029.
Shares of SK Innovation added over 4% in recent trade.