POSCORE, a Korean magnetic powder manufacturer, has raised an additional seed investment of KRW 900 million (approximately USD 675,000). Capstone Partners, the Gyeongbuk Creative Economy Innovation Center, and d·camp, the Banks Foundation for Young Entrepreneurs, participated in this round.

POSCORE produces high value-added magnetic powder by recycling by-products from the steel manufacturing process. This magnetic powder is used as a core material in motors for electric vehicles, home appliances, generators, and electric motors. As demand for electric vehicles rises and appliances become more compact, demand for magnetic powder is expected to increase rapidly, especially for small, high-speed motors that are challenging to manufacture with traditional methods.

Originally launched as an in-house venture of POSCO, POSCORE became an independent corporation in 2023. In 2024, it was selected for the Super Gap Startup 1000+ and Deep Tech TIPS R&D programs. The company also won the Grand Prize at the Nextrise Awards 2024, the Hanam City Corporation 2024 Startup Competition, first place at the UN Association World Federation CityPreneurs 2024 Gyeonggi Startup Competition, and the Grand Prize at the 2024 Gyeongbuk Creative Economy Innovation Center G-Star Awards, establishing itself as a next-generation manufacturing startup to watch.

POSCORE CEO Kim Hyeong-jin stated, “This investment will help us quickly scale up the magnetic powder business. We aim to establish an eco-friendly magnetic powder manufacturing process and lead the new growth industry by building an ESG-focused ecosystem.”