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POSCO Takes its Second Leap Forward as a Leading Global Eco-friendly Steel Maker

2022/03/17

Inaugural general meeting held on March 2, focusing on the steel business to strengthen safety and accelerate the transition to an eco-friendly production system.

Vice Chairman Hag-dong Kim and Head of Marketing Division(President) Tak Jeong appointed as representative directors, and Professor Jae-hwan Park of the Business Administration Department at Chung-Ang University, and Min-ho Lee, former professor of Environmental Studies at Kyunghee University appointed as outside directors.

Vice Chairman Hag-dong Kim said POSCO is “to be reborn as a steel company lasting a century with the world’s best competitiveness”

Conducting on-site communication such as holding open conversations with employees in the inauguration ceremony and visiting Pohang and Gwangyang Steelworks.


POSCO held an inaugural general meeting at the POSCO Center in Seoul on March 2 and was launched as a new steel business company.

POSCO plans to further strengthen safety management by focusing all its capabilities on the group’s core steel business under the holding company structure and to solidify the world’s best steel competitiveness by accelerating the transition to an eco-friendly production system such as hydrogen-reduced steel and carbon capture and utilization/storage(CCUS) technology.

In this meeting, POSCO appointed Vice Chairman Hag-dong Kim and President Tak Jeong as the first representative directors. Professor Jae-hwan Park of the Business Administration Department of Chung-Ang University and Lee Min-ho, former professor of Environmental Studies at Kyunghee University, were appointed as outside directors, and Si-woo Lee, Head of the Steel Production & Technology Division(Senior Executive Vice President), Ji-yong Kim, Head of the Safety Health Environment Division(Senior Executive Vice President) and Duk-il Yoon, Head of the Corporate Planning Division & Finance Division(Senior Executive Vice President) were appointed as inside directors. Jung-son Chon, Head of POSCO Holdings’ Corporate Strategy Team(President) was appointed as a non-executive director. The Board of Directors is chaired by Vice Chairman & POSCO CEO Kim.

Currently, commercial law only mandates listed and financial companies to appoint outside directors. However, POSCO appointed outside directors to establish an advanced corporate governance structure and enhance management expertise.

Vice Chairman & CEO Kim held an inauguration ceremony attended by more than 50 executives and employees, including representatives of employee representative organizations, representatives of partners and suppliers, steelworks part leaders and foremen, and Young Boards in the conference hall of the Pohang headquarters later in the day. More than 50 executives and employees each from Gwangyang and Seoul participated in a video call, and it was streamed live throughout the company.

In his inaugural address, Vice Chairman Kim emphasized that “the newly born steel company, POSCO, must become the world’s best competitive steel company based on safety and eco-friendliness, and a corporate citizen steel company that has happy employees and develops together with stakeholders such as customers, suppliers, and local communities. Through this, all executives and staff should work together to create ‘POSCO, a sustainable steel company lasting a century.’”

He also said, “We will contribute to the economic development of the local community and grow together with continuous large-scale investment in line with future-leading businesses, such as establishing a byproduct hydrogen production system in preparation for increasing hydrogen demand and new electrical steel sheet facilities in response to the increase in demand for eco-friendly vehicles.”

As part of the inauguration ceremony, Vice Chairman Kim had an “open conversation” time in which employees casually asked and answered questions about POSCO’s future vision and role. He also had words of encouragement for employees, saying, “Today’s POSCO, leading the global steel industry, is the product of our painstaking efforts, and you are POSCO’s future competitiveness.”

Moreover, Vice Chairman Kim plans to visit the production sites of the Pohang Works on March 4 and Gwangyang Works on the 7th to listen to and communicate with employees directly and continue his on-site management. In particular, he plans to express his gratitude to the field workers who are working hard to maintain the world’s best competitiveness and urge labor and management to work together to create a safer workplace with pride.

▲ On March 2, POSCO was launched as a steel business company. POSCO plans to focus all its capabilities on the steel business, further strengthening safety management, and accelerating the transition to an eco-friendly production system to solidify the world’s best steel competitiveness. The photo shows Vice Chairman & CEO Hag-Dong Kim giving his inaugural address.

▲ On March 2, POSCO was launched as a steel business company. POSCO plans to focus all its capabilities on the steel business, further strengthening safety management, and accelerating the transition to an eco-friendly production system to solidify the world’s best steel competitiveness. The photo shows Vice Chairman & CEO Hag-dong Kim having an “open conversation” with employees.

▲ On March 2, POSCO was launched as a steel business company. POSCO plans to focus all its capabilities on the steel business, further strengthening safety management, and accelerating the transition to an eco-friendly production system to solidify the world’s best steel competitiveness. The photo shows Vice Chairman & CEO Hag-dong Kim greeting executives and employees during the inauguration ceremony.

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