Chairman Chang: “The United States has been the most steadfast partner in POSCO Group’s growth and leap forward… We will work together to usher in a new renaissance in U.S. manufacturing.”

Strengthening bilateral economic cooperation through expanded investments in the U.S., including a joint steel mill project in Louisiana, a lithium direct extraction technology demonstration project in Utah, and long-term contracts for North American LNG purchases

POSCO Group Chairman In-hwa Chang has been awarded the 2025 General James A. Van Fleet Award in recognition of his contributions to enhancing economic cooperation and friendship between Korea and the United States.

On October 23 (local time), at The Korea Society’s annual dinner held at the Plaza Hotel in New York, Kathleen Stephens, Chair of The Korea Society, stated:

“We highly value Chairman Chang’s significant contributions to strengthening ties between our two nations by supporting the rebuilding of the U.S. industrial ecosystem and the establishment of sustainable supply chains, and have selected him as this year’s award recipient.”

The Korea Society is a non-profit friendship organization established in 1957 with the aim of promoting understanding and cooperation between Korea and the United States across politics, economy, society, and culture.

The Van Fleet Award is a prestigious honor presented to individuals or organizations that have made outstanding contributions to mutual understanding, cooperation, and friendship between Korea and the United States. It was established in 1992 to commemorate General James A. Van Fleet, known as the “Father of the Korean Army” for his role in modernizing the Korean military during the Korean War. Past recipients include former U.S. President George W. Bush, former Korean President Kim Dae-jung, SK Group Chairman Chey Tae-won, and BTS. This year, alongside Chairman In-hwa Chang, the Congressional Study Group on Korea (CSGK) was also honored.

In his acceptance speech, Chairman Chang emphasized:

“It is an immense honor and holds special meaning to receive the Van Fleet Award from The Korea Society, which has elevated the value of the Korea–U.S. alliance. For POSCO Group, the United States has been the most steadfast partner in our growth and leap forward.”

He added:

“The U.S. steel industry was a great inspiration in the establishment of the Pohang Works; POSCO’s first export to the U.S. in 1972 became the gateway to the global market; and our 1994 listing on the New York Stock Exchange as the first Korean company marked a milestone in POSCO Group’s growth history.”

Since Chairman Chang’s inauguration, POSCO Group has strategically expanded investments in the U.S. across its core businesses, including steel, secondary battery materials, and energy. In April this year, POSCO Group signed an MOU with Hyundai Motor Group for a joint steel mill investment in Louisiana. In Utah, POSCO is conducting the first-ever Direct Lithium Extraction (DLE) technology demonstration project by a Korean company. POSCO Group has also signed long-term contracts to purchase North American LNG, further strengthening bilateral economic cooperation and fostering joint development in manufacturing industries.

Looking ahead to a new era of growth in Korea–U.S. relations, Chairman Chang stated:

“Beyond supplying key materials for industries such as automobiles, shipbuilding, and energy, we will work together to realize AI-based Intelligent Factories and other future innovation partnerships, opening a new renaissance in U.S. manufacturing. As America’s life-long partner, we will embark on this journey toward the future together.”

▲ On the 23rd (local time), POSCO Group Chairman In-Hwa Chang received the Van Fleet Award in New York, USA. Pictured from left are Korea Society Chairman Thomas Byrne, POSCO Group Chairman In-Hwa Chang, and Korea Society Chairwoman Kathleen Stephens.

POSCO Named World’s Most Competitive Steelmaker for 7th Consecutive Year

In World Steel Dynamics (WSD) latest World-Class Steelmaker Rankings of 37 steelmakers around the world, POSCO once again topped the list. In the ranking, POSCO was recognized for reorganizing its corporate structure, making use of innovative technologies like FINEX and CEM, and increasing sales of high-end products like World Premium (WP) products. POSCO has led the WSD rankings for seven years in a row.

Two Automotive Steel Sheet Processing Centers in China Complete Construction

With the completion of two automotive steel sheet processing centers in Chongqing and Chengdu—the hub of China’s auto industry—POSCO is aiming at expanding sales of its high value steel products. The plant in Chongqing alone has an annual production capacity of 140,000 tons and can produce World Premium (WP) steel products. POSCO now operates 21 processing centers in 13 cities around China.

POSCO Global Volunteer Week 2016 Launches in 52 Countries

During POSCO Global Volunteer Week 2016 in the week of May 28 to June 3, 84,000 POSCO employees in 52 countries carried out a wide range of activities to help out their local communities. CEO Ohjoon Kwon participated, too, joining 40 employees to improve facilities at a rehabilitation center near the POSCO Center in Seoul. POSCO, through its seventh annual Global Volunteer Week, sought to actively spread its corporate culture of sharing and communicating with local communities worldwide.

CEO Ohjoon Kwon Receives the Korea Society’s 2016 Van Fleet Award

This year’s Van Fleet Award went to POSCO CEO Ohjoon Kwon in recognition of his efforts in promoting Korea-U.S. relations. The Van Fleet Award has been given by the Korea Society annually since 1995 to honor those that have contributed to improving the relationship between U.S. and Korea. Past recipients include UN Secretary-General Kimoon Ban, former U.S. President George H.W. Bush and former Korean President Daejung Kim. “If the U.S. had not come to the aid of the Korean people, or if we in the South had lost the war, I would not be standing here,” said CEO Kwon in his acceptance speech.

POSCO Develops High-Resolution Inkjet-Printed Steel

POSCO has developed a high-resolution inkjet-printed steel that integrates inkjet printing and steel, using the company’s own technology. The new inkjet-printed steel can be printed in full color with a resolution of more than 1,200 dots per inch—four times higher than existing materials. This new inkjet-printed steel also has high corrosion resistance, a shortened work process, and can be produced in more vivid colors.

POSCO Participates in Offshore Technology Conference 2016

This is the ninth consecutive year that POSCO has participated in the Offshore Technology Conference, the biggest international conference for offshore operation technology. For this year’s Offshore Technology Conference, POSCO set up an exhibition booth with domestic offshore equipment manufacturers, maximizing the company’s promotional effectiveness.

POSCO Announced First Quarter Earnings During IR Conference Call

POSCO announced in April that its first-quarter operating profit and net income have both increased from the previous quarter. Operating profit rose KRW 319.3 billion to reach KRW 659.8 billion while net income was KRW 352.5 billion, rising from KRW 243 billion. However, POSCO’s total revenue was down slightly on a consolidated basis, declining to KRW 12.46 trillion. POSCO credited the improved results to better performance from the steel and trading divisions.

These are exciting days for POSCO. With new technology, new processing centers, and new awards, POSCO is continuing to make its mark in the international steel industry. Expect the big news and major achievements to continue in the second half of 2016.

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The James A. Van Fleet Award was established by The Korea Society in 1995 to honor the late General James Van Fleet, who was commander of the U.S. Eighth Army during the Korean War. It is given annually to an individual or organization who has contributed to the promotion of U.S.-Korea relations.

The Korea Society, which has made great efforts to improve cooperation and exchange between the two countries in the U.S., presents the award each year at its Annual Dinner.

Past recipients of the award include Secretary-General of the UN, Kimoon Ban (2004), former U.S. President George H. W. Bush (2005), Samsung CEO Kunhee Lee (2006) and former President of the Republic of Korea Daejung Kim (2007).

Notable & Quotable: Korea

‘If the U.S. had not come to the aid of the Korean people, or if we in the South had lost the war, I would not be standing here.’

During the Korean War, Gen. James Van Fleet brought not only an exceptional military record but also leadership of great stature with the highest ideals. He courageously commanded the U.N. troops at the very forefront during the Korean War, with the steadfast goals of defending the people of the Republic of Korea and preserving democracy on the Korean Peninsula.

His own son, Lt. James Van Fleet Jr., also volunteered as a combat pilot but tragically went missing in action during his mission near the Yalu River. Gen. Van Fleet suspended the search-and-rescue operations for his son out of concern for putting additional soldiers’ lives at risk.

Although his son James never made it back home, his noble spirit of self-sacrifice will be remembered forever by those of us with any connection to the Korean War conflict.

In fact, this is the story I read in the social-studies book when I was in the fifth grade in elementary school. That was also my first encounter with Gen. Van Fleet. The name of Gen. Van Fleet has remained embedded in the hearts and in the minds of the Korean people, symbolizing the strong bonds . . . between our two nations.

In today’s modern era where self-centered egoism is often the generally accepted norm, James Van Fleet’s legacy of bravery and sacrifice continues to serve as a valuable moral lesson for today’s young generation of Koreans.

Tomorrow, I will be traveling to Washington, D.C., to visit Arlington National Cemetery and pay homage and tribute to Gen. James Van Fleet and the fallen soldiers who gave their lives on Korean soil.

On a personal note, I was born just 20 days before the outbreak of the Korean War, in a small town in South Korea. One of the fiercest battles in modern history was recorded near the Nakdong River close to my hometown, and this battle forced my family to evacuate southwards. The evacuation trail stretched 200 kilometers or 125 miles, and my parents had a hard time carrying a 20-day-old newborn baby enwrapped in blankets.

I still recall, when I was studying metallurgical engineering at the University of Pittsburgh some 40 years ago, how fortunate and privileged I felt to have the opportunity to come to the United States to further pursue my studies and career ambitions. If the U.S. had not come to the aid of the Korean people, or if we in the South had lost the war, I would not be standing here.

** This content was published on May 20 in the Wall Street Journal.

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