Following the previous interview with female executive Young Choi of Daewoo International, today we met with POSCO Research Institute (POSRI) deputy director Lee Yoon Hee. In the male-dominated steel industry, Lee is holding her own, leading her team with her trademark “soft charisma.” Shall we head on and have a listen to her story?

POSRI Deputy Director Lee Yoon Hee Talks POSCO

Could you please tell us what made you knock POSCO’s door, and about the work you’ve done at POSCO ever since?

While I was preparing for my post-grad school entry, a friend tipped me about a job opening at POSCO, which were exclusive for female students only. At the time I actually preferred to continue my studies rather than work for a company, but my professor and parents talked me into going for some good work and real-life experience. I was sold and applied for the job.

My first post when I joined the company in October 1990 was the secretary’s department located at Seoul. There, I worked for a year as then-president Park Tae-jun’s secretary. Next Fall I relocated to the management examination department located at Pohang. The new department was devoted to examining the local economy, market demands, and industry trends.

Afterwards I started afresh as a researcher when the Research Institute of Industrial Science and Technology (RIST) and the examination division of the Planning and Coordination department merged to form the new POSRI. Since 2001, I have worked on building marketing strategies and analyzing the steel industry and our competitors.

When was the most rewarding moment during your time at POSCO?

I’ve worked 3 years and 10 months at POSCO and 20 years as a researcher at POSRI. At POSCO, the year I worked as a secretary was the most memorable and rewarding. The Management Instructions Administration System had been newly introduced when I was assigned to the secretary’s department. I was in charge of recording the president’s and the vice-president’s instructions into the system, and relaying them to related departments.

The departments would correspond by submitting task results or countermeasures, and in turn the management would develop new strategies based on those reports. While experiencing the entire process, I was enthralled to have fulfilled my duties as a secretary by contributing to the work of my superiors.

On the other hand, the most personally rewarding work I’ve done as a researcher was the publication of steel industry research. Doing various unique research on steel commerce including the Korea-US steel tariff issue, competition rounds, and case studies on multiple commercial conflicts on several local industries, I could feel a genuine sense of duty in my work. I took pride in the idea that the research we were doing set us apart from other research centers, and that I was contributing to my country’s economic and social development through the steel industry.

A stalwart career amidst a male-dominated steel industry

When were difficult moments as a female worker, and how did you find the strength to march on?

Initially, it was difficult to withstand all the attention I received as someone who entered a predominantly male culture through a female-only recruitment. I was anxious to prove that gender doesn’t matter in the workplace, which drove me to pay more attention to detail and not make mistakes.

However, things changed when I moved into the research center: I began to receive credit for my work rather than how I behaved within the organization. Also, the fact that I was doing research in uncharted grounds proved to be a challenge in and of itself, which pushed me to work even harder.

Tell us about your personal efforts to become a truly admirable (female) leader.

First, I think the female advantage is her “Multiplayer DNA.”

Korean females are making a constant effort to fulfill their responsibilities not only in their careers but also in their homes. Because they are exposed to an environment which requires them to carry out various tasks in limited time, they develop the ability to tackle multiple tasks simultaneously while looking at the bigger picture.

This DNA contributes enormously to workplace performance. Taking myself as an example, I ask for the help of related departments without hesitation when needed. I also do not forget to make the necessary preparations for planned objectives, all while making bold decisions when need presses.

Furthermore, I have developed the ability to assume the role of the leader and allocate appropriate tasks to my teammates even when faced with complex objectives. Also, as a researcher, I had the responsibility to provide professionalism. I think perfection in professionalism is difficult, if not impossible, to attain solo.

There is a Korean proverb that says “Goodwill is born in the shed.” It means that a full shed comes before the sharing of its contents. To me, this saying underlines the importance of the continuous effort to fill the shed. That said, I try to meet with my researcher colleagues and share ideas in order to fill the shed. Such efforts contribute enormously in shaping my ideas in the right direction.

I also try to set some of my time aside for giving advice and sharing concerns with anyone who comes to me for help. Even when I’m pressed for time, I try my best to share my resources and provide solutions!

A Step towards the Future: The Story of Lee and POSCO

What are your five- and ten-year plans?

The question I’m asking myself these days is “what kind of leader shall I be?” With the specialty of the organization named research center, there is a certain limit to live as a position holder. I will try to become a ‘playing coach’ to secure the place as a position holder who does not lose the professionalism of a researcher.

First, I’m trying to finish my doctoral thesis by the following year. A diploma is mandatory not only internally but also externally for professional integrity. Next, I’d like to write a book on a topic of my field of expertise. I’m planning on a comprehensive summary on the steel industry-related dispute cases that were a part of my earlier publication, “The Commercial Disputes in Korean Industries.’

Furthermore, I’d like to write a series of reports on the history of the development of the global steel industry and the changing management strategies for the next generation of researchers to consult during their studies.

Could you give us any insight on the strengths of POSCO in the steel industry and the path it should take in the future?

POSCO assumes a leading role not only domestically but also in the global steel industry. It’s true that POSCO’s growth and profitability has slowed down somewhat recently, but its cost competitiveness and profit making ability remain superior to other steel manufacturers nonetheless. This indicates that POSCO’s market premium is to reckon with.

Another strength of POSCO is that it has many, many talented individuals working for the company. POSCO remains atop the “most coveted workplace” list. I expect the company’s new strategies to bear fruit over time as the promising talents of today become the leaders of tomorrow!

As a leader of the steel industry, POSCO must contribute to solving the industry’s two main issues spawned by structural problems: surplus supply and margin squeeze.

More than anything, it’s important to identify the ineffective policies and weaknesses that exist in the domestic steel industry. Joint efforts that will promote the mutual growth and development of the steel industry should be made, as well as strategies that will fortify the foundation for the growth of manufacture and demand.

Lastly, please give some advice for the females entering the workforce!

Firstly, try to maintain a bigger perspective. Look further and further. I recently read a book titled “A woman who lives 10 years into the past, a women who lives 10 years into the future.” The book compared women who stop growing at age thirty to women who start growing at age thirty, which prompted me to make specific plans for my life.

Also, try growing an interest in sports. There’s nothing like sports that leads to communication with males in a predominantly male organization. Sports is an activity that has a clear distinction between the winner and the loser, but it also gives us lessons on fairness and the need for sound strategy. Also, it will be helpful in carrying out tasks because it requires prompt decision-making from time to time.

Hope that Lee’s story will encourage you and many other business people to take a brave step in shaping their futures! Please look forward to reading our next post for the POSCO Women Leadership Series!

POSCO held its board meeting on February 24^th to announce the nominations for outside and in-house directors. On this day, Ilsup Kim, President of Seoul School of Integrated Sciences & Technologies (aSSIST), Wooyoung Sun, Executive Partner at law firm Seah, and Donghyun Ahn, Professor of Economics at Seoul National University, were named candidates for outside directors. In addition, Jinil Kim, President of POSCO CHEMTECH, Younghoon Lee, Senior Vice President of POSCO Engineering & Construction, and Executive Vice President Dongjoon Yoon, were named candidates for in-house directors.

Outside director candidate, Ilsup Kim of aSSIST, has held previous roles including Vice President of Samil PwC, Vice Chancellor of Ewha Women’s University’s School of Business, and Chairman of Deloitte Korea. Executive Partner, Wooyoung Sun served at various posts including Chief Prosecutor at Uijeongbu and Cheongju district public prosecutor’s office as well as at Seoul Eastern District Prosecutor’s Office. Lastly, Professor Donghyun Ahn served as Assistant Professor at Korea University’s College of Business Administration, Associate Professor at University of North Carolina, and Financial Strategy officer at RBS.

In-house director nominee, POSCO CHEMTECH President Jinil Kim, joined POSCO in 1975 and has worked as General Superintendent at Pohang Works as well as the Head of Carbon Steel Business Division. From 2011, he transferred to POSCO CHEMTECH and is currently the CEO. Senior Vice President Younghoon Lee joined POSCO in 1985 and has served in many posts including Manager of the Finance Department and Head of the Corporate Strategy Department. He currently is the director of Business Planning at POSCO Engineering & Construction. Finally, Executive Vice President, Dongjoon Yoon joined POSCO in 1983 and has held various positions including Manager of the Business Innovation Department, Head of Global HR, and Director of Business Planning at POSCO Engineering & Construction. He returned to POSCO last year and is currently the Director for Business Strategy.

For the first time since the founding of POSCO, all nominated in-house directors have prior experience working at invested companies of POSCO. As such, it is anticipated that the newly elected board of directors will have more understanding and consideration of each other’s position. Candidate Ohjoon Kwon CEO has prior experience working at the Research Institute of Industrial Science & Technology of POSCO and Senior Executive Vice President  Inhwan Chang recently returned from his role as CEO of POSCO P&S.

Following a qualification screening and process of eligibility by the Nomination Committee and current Board of Directors, these individuals were nominated as likely candidates to be appointed. They will be officially appointed this coming March 14^th at the general shareholders’ meeting.

What is Triton—the artificial fish reef?

‘Triton’ was named after a sea-god from ancient Greek mythology, who controlled all ocean. The key to Triton was something called a Steel Slag. It is a by-product of molten metal from melting iron ore, soft coal, limestone—the three ingredients for producing steel—in extremely high temperature.

Steel Slag is an eco-friendly resource that can be widely used for many purposes such as cement, manures, and aggregates. POSCO’s ‘Triton’ is a low-carbon fish reef using such Steel Slag.

Since 2000, POSCO started research on ways to restore marine life by collaborating with Research Institute of Industrial Science & Technology (RIST), and ‘Triton’ is the result of this project. Triton consists dominantly of steel, which is a necessary element for mixing photosynthesis and protein. It creates a healthy environment for marine life to flourish, by attracting the accession of marine plants in the area. Thanks to the installment of Tritons, sea forests were restored healthily. These sea plants then help to decrease carbon dioxide due to their ability to store about 10-20 tons of carbon dioxide every 1ha per year during the process of photosynthesis.

 Not only in the southern sea of Korea, but Triton has made sea forests in parts of the east sea. The priceless sea forest created in the southern sea, was progressed by POSCO MOU pilot project with the Ministry of Maritime Affairs and Fisheries. After 18 months of making the sea forest, the amount of contrast in the bedrock biomass in the area have increased more than ten times its original state, and the incomes for fishermen have also increased.

POSCO Reaches Out Globally In Preserving and Restoring Marine Life

Towards the future, POSCO aims to build mutually cooperative relationships for constructing fishery resources with the Ministry for Food, Agriculture, Forestry and Fisheries. Furthermore, POSCO plans to establish seventeen more sea forests with Triton until 2014. In addition we will try our best to restore the coral reef forests in Indonesia along with protection of marine life in other parts of the world as well. POSCO’s deep concern for the marine affairs will continue.