CEO Kwon will serve a 3-year term as part of The World Steel Association’s (worldsteel) leadership from October 2017 to October 2020. According to worldsteel regulations, he will become the chairman next year. Once appointed to the leadership of worldsteel, the appointees serve as vice chairman in their first year, chairman in their second year and vice chairman again in their third and last year.
Being in a global leadership position is not new to CEO Kwon. He served as the chairman of worldsteel’s Technical Subcommittee since 2012, when he was president of POSCO, and since 2014, he served as a member of the executive committee, the highest decision-making body of the organization, when he was inaugurated as the CEO of POSCO.
The new leadership will be looked upon to invigorate technical exchanges among steelmakers around the world, and boost the advancement of technology in the steel industry. In particular, while countries around the world are strengthening protectionism due to global oversupply, worldsteel’s leadership will be counted on to coordinate and arbitrate the interests of steelmakers through effective communication and networking.
The news of CEO Kwon’s new leadership role comes a day after POSCO received worldsteel’s Steelie Award for “Innovation of the Year.” The Innovation of the Year award is given to one member of worldsteel who made the most innovative accomplishments in technology or sustainability. POSCO was recognized for its use of artificial intelligence (AI) in coating weight control, the cold rolling process, automated operation and the furnace heat control process to improve quality and reduce costs at the same time.
This year’s award marks the last of 4 awards POSCO has received from worldsteel including the award for sustainability in 2010, and the awards for Innovation in 2012 and 2015.
Cover photo courtesy of World Steel Association.
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