Choi Jung-woo, Chairman of POSCO Group, Appointed to the World Steel Association Executive Committee

Highly Rated Leadership in Leading Carbon Neutrality in the Global Steel Industry

Won Two Categories Including Technological Innovation and Communication Program at the Steely Awards

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] Choi Jeong-woo, chairman of POSCO Group and an executive member of the World Steel Association, announced on the 14th that he was appointed to the board of directors at the annual member meeting held online on October 13.

The World Steel Association's board consists of one chairman and two vice-chairmen, totaling three members. The term is three years, with the first year serving as vice-chairman, the second year as chairman, and the third year again as vice-chairman.

Accordingly, Chairman Choi will serve as the newly appointed vice-chairman for one year until the World Steel Association General Assembly in October next year, and from October 2022, he will lead the global steel industry as chairman for one year.

In his first year on the board, Chairman Choi will work alongside Sajjan Jindal, chairman of India's JSW (Jindal Steel Works Limited), and Yu Yong, CEO of China's Hebei Iron & Steel Group (HBIS), who will serve as vice-chairmen.

Chairman Choi has actively led the global steel industry's carbon neutrality efforts, successfully hosting the HyIS Forum (Hydrogen Iron & Steel Making Forum 2021) on October 6, the first in the steel industry to discuss hydrogen reduction steelmaking technology. POSCO has also demonstrated consistent leadership within the association by chairing important task forces such as the Steel Megatrends Expert Group and the High-Strength Steel Demand Promotion Council, earning overwhelming support from member companies.

Meanwhile, at the annual meeting, POSCO won two awards in the 12th Steely Awards, which were also announced that day. The Steely Awards, established in 2010, are given annually to outstanding steel companies that have significantly contributed to the development of the steel industry among all World Steel Association members. The awards are divided into six categories: Technology Innovation, Sustainability, Life Cycle Assessment, Education and Training, Digital Communication, and Communication Programs.

POSCO is the only domestic company to have won six times in the Technology Innovation and Sustainability categories. This year, POSCO was a finalist in five categories and won in two: Technology Innovation and Communication Programs.

In the Technology Innovation category, POSCO was recognized for the world's first development of a new forming process for giga steel roll stamping capable of reducing carbon dioxide emissions and for mass production through domestic and international collaboration.

Giga steel is an ultra-high-strength lightweight steel sheet with a tensile strength exceeding 1 GPa, capable of withstanding loads over 100 kg per 1 mm² area. It boasts excellent durability and safety, emits less carbon compared to other materials of the same class, and is called the "dream automotive steel sheet."

To respond to megatrend changes in the automotive industry such as the expansion of the eco-friendly car market and demands for vehicle weight reduction, POSCO has sequentially invested about 500 billion KRW since 2017 to build and expand giga-grade steel manufacturing facilities at the Gwangyang Steelworks site, establishing a production system of one million tons of giga steel last month.

In the Communication Programs category, POSCO was recognized for creatively and innovatively expressing the aesthetics of steel and future technology through an online-offline linked communication program centered on Park1538, which opened in Pohang in March this year.

POSCO also received praise for applying its excellent steel materials such as PosMAC and PosART to buildings, expressing the beauty of steel. The architectural design concept of the "Infinite Loop," symbolizing steel's sustainability, was evaluated as effectively capturing steel's infinite future and possibilities.

Park1538 is a complex cultural space developed by POSCO near its Pohang headquarters, featuring a promotional center, history museum, hall of fame, and waterfront park in a theme park format. It offers a comprehensive view of POSCO and the steel industry's history, present, and future.

Recognized for its creative design and openness to citizens, Park1538 won the Ministry of Land, Infrastructure and Transport Award at the Korea Landscape Awards and has become a local attraction with over 15,000 visitors within six months of opening.

POSCO has been recognized as the world's most competitive steel company for 11 consecutive years by the global steel analysis firm WSD (World Steel Dynamics) and has received the Best Steelmaker Award from S&P Global Platts in 2018 and 2020, affirming its position as a steelmaker with world-class competitiveness.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik hss79@asiae.co.kr

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