Chairman Choi Jung-woo: "We Will Change Business and Work Methods Through POSCO Forum"

2021 POSCO Forum Held... Future Growth Strategies Including Carbon Neutrality and ESG Management Explored

[Asia Economy Reporter Hwang Yoon-joo] Choi Jung-woo, Chairman of POSCO Group, attended the POSCO Forum on the 1st and announced that he will achieve innovation from business methods to working styles. POSCO Group reflects the discussions held at the POSCO Forum every year in its business plans and mid-term management strategy directions.

On that day, Chairman Choi said at the POSCO Center in the morning, "I hope the POSCO Forum becomes a place of innovation to change business methods, growth methods, as well as ways of thinking and working, and to enhance the strategic execution capability as a specialized eco-friendly material maker."

He continued, "The shock of COVID-19, which seemed to have an exit in sight, has led to a new crisis due to various variants and breakthrough infections, constantly demanding an attitude to prepare for an uncertain future," emphasizing the need to gain insights from the forum.

POSCO is holding the POSCO Forum for two days starting from the 1st to understand the emergence of a new economic order represented by carbon neutrality and ESG (Environment, Social, Governance) management, and the industrial changes that will come after COVID-19, and to envision future growth strategies.

The POSCO Forum has been held annually since 2019 for group executives, and this year’s theme is "Walking the path of a 100-year company with eco-friendly materials."

Considering the strengthened social distancing measures due to the spread of COVID-19, only up to 50 people including external lecturers and panelists, POSCO headquarters heads and above, and presidents of group companies based in the metropolitan area will attend in person, while the rest of the POSCO Group executives will participate via interactive video in a hybrid online-offline event.

On the first day, a keynote speech titled "The Biden Administration’s Foreign Policy and the New International Order" was delivered by Stephen Edward Biegun, former U.S. Deputy Secretary of State. Following this, panel discussions on "How is the world economic order changing?" analyzed the impact of policy changes under the Biden administration on global politics and economy, and examined implications for the direction of the new international order and corporate management.

In the presentation and discussion on "The Direction of ESG Changes and Proper Implementation Methods," various demands from stakeholders such as shareholders, government, and customers, responses to changes in the management environment including strengthened ESG responsible investment and expanded carbon neutrality policies were discussed. Additionally, in the innovation session themed "Innovating the Future with New Choices," future change directions were predicted and fundamental innovation measures were considered through case studies of innovation in business methods and working styles in traditional manufacturing after COVID-19.

On the second day, lectures related to POSCO Group’s future strategies for growing as an eco-friendly material maker will be held, covering topics such as ▲The future of the steel industry in the decarbonization era ▲Changes in the secondary battery material ecosystem in the automotive revolution era ▲The potential of the hydrogen industry in the energy transition era ▲New growth opportunities in the era of corporate transformation.

This content was produced with the assistance of AI translation services.