BOD Chairman Joo-hyeon Kim has been an outside director of POSCO since 2015. He previously served as president of the Hyundai Research Institute and chairman of the Economic Subcommittee of the Presidential Committee for Unification Preparation.  He is currently the CEO of Financial News. He Seong-jin Kim, is an expert in industrial policies. He was the Deputy Director-General of Industry in the Prime Minister’s Office, a presidential secretary for policy management, a presidential secretary for industrial policies, the administrator of the Small and Medium Business Administration, the Minister of Maritime Affairs and Fisheries, and president of Hankyong National University.  

CEO & President In-hwa Jang served as the head of multiple organizations, including the New Business Management Office of POSCO, the Steel Solution Marketing Office. and the Technology Investment Headquarters. He was also appointed as head of the Steel Production Headquarters last year, and oversaw steel production sites.

Joong-seon Jeon, served as head of the Raw Materials Purchasing Office of POSCO, head of the Management Strategy Office, and CEO of POSCO C&C. He was promoted to vice-president last month after being appointed as head of Corporate Strategy & Finance Center The shareholders approved the financial statements, reorganized expert committees and revised part of the Articles of Incorporation, including the increase of the number of outside directors.

POSCO CEO Ohjoon Kwon remarked at the general shareholders’ meeting, “POSCO celebrates its 50th anniversary this year. To make a new leap forward in 2018, we will further consolidate our world-leading position in the steel industry, reshuffle our business strategy by with a focusing on high-yield core businesses, converge create convergence businesses with group affiliates, and continuously seeking new business opportunities for our future growth.”

In addition, POSCO is planning to operate the CEO candidates nurturing program more substantially. This program establishes plans for individuals who were selected through an objective verification process from general managers and higher-ranking officials at POSCO and its affiliates, and nurtures them in a customized way. 100 people have benefitted from this program each year since March 2016. Program participants work for companies that POSCO invested in and for its overseas subsidiaries, while participating in leading domestic and overseas universities’ business management courses to foster their entrepreneurial competency and global mindset.

Meanwhile, to repay the country and citizens for their continued support for POSCO since 1968, the business announced that they are planning to construct the Science and Technology Experience Center and the Cultural Complex as part of their activities to celebrate POSCO’s 50th anniversary.

Cover photo courtesy of News World.

Including Kwon, the CEOs of major steel companies such as Wolfgang Eder (chairman of the World Steel Association and voestalpine AG), John Ferriola (vice chairman of the World Steel Association and president of Nucor Corporation), Lakshmi Mittal (chairman of ArcelorMittal), Mario Longhi (president of the United States Steel Corporation), Kosei Shindo (president of Nippon Steel & Sumitomo Metal Corporation) and Yu Yong (chairman of the Hesteel Group) participated and discussed key pending issues facing the steel industry in an Executive Committee meeting on October 10.

Members of the Executive Committee posing for a photo on October 10. From left to right: André Gerdau Johannpeter (CEO of Gerdau Group), Wolfgang Eder (chairman of voestalpine AG), Ohjoon Kwon (CEO of POSCO), Lakshmi Mittal (chairman of ArcelorMittal), Paolo Rocca (chairman of Techint Group), Eiji Hayashida (president of JFE Holdings), Heinrich Hiesinger (chairman of ThyssenKrupp), Yu Yong (chairman of the Hesteel Group), Mario Longhi (president of the United States Steel Corporation), Kosei Shindo (president of Nippon Steel & Sumitomo Metal), John Ferriola (president of Nucor Corporation) and Sajjan Jindal (chairman of JSW Steel).

On the second day of the meeting, October 11, movers and shakers of the world steel industry held long discussions on the sustainable development of the steel industry in three breakout sessions. CEO Kwon presided over one particular session which went over steel’s roadmap for the future via new technology, and engaged in a spirited discussion with around 50 representatives from different steel companies.

Aside from these discussions, the World Steel Association held an annual conference, a BOD meeting and a general meeting to share issues of mutual interest and approve key matters, such as its business plan and the 2017 budget.

The World Steel Association, established in 1967, is the most authoritative organization in the steel sector, focusing on activities to increase people’s awareness of the steel industry and its interests. The association began with 18 member firms from 11 countries. At present, the organization is made up of 170 members, ranging from steel companies, relevant associations and research centers. Brussels, Belgium is home to the headquarters of the World Steel Association.

The association’s BOD consists of steel producers that have an annual capacity of over 2 million tons. At the moment, the BOD has 73 companies of approximately 30 nations as regular members. The Executive Committee is the top decision-making body of the organization, deciding the direction of major business projects such as the steady growth of steel, steel’s role in the environment and the market development of steel. The committee consists of 15 members whose terms each last three years.

The 2017 annual general meeting of the World Steel Association is scheduled to be held at its headquarters in Brussels, in memory of its 50th anniversary.

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