POSCO Announces Regular Executive Personnel Changes for 2022

Based on Record-Breaking Business Performance, Choosing 'Change Within Stability'... Key Steel Business Division Heads and Group Company CEOs Retained

Strengthening Responsible Management in Steel Business... President Kim Hak-dong Promoted to Vice Chairman and Expansion of On-Site Expert Promotions

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] POSCO announced on December 22 that it has carried out regular executive personnel appointments and organizational restructuring.

POSCO Group, which is expected to achieve the highest management performance in its history this year, plans to pursue "change within stability" under the holding company system next year. While retaining key heads of steel business divisions and group company representatives, it has also recruited a large number of experts in new businesses and new technologies from outside.

Considering the strengthening of responsible management in the steel business sector and the status as the representative of the core business company within the group, POSCO President Kim Hakdong is promoted to Vice Chairman, and Jeon Jungseon, Head of Global Infrastructure Division, and Jeong Tak, Head of Marketing Division, are promoted to President respectively. POSCO Group also conducted personnel appointments for 37 newly appointed executives and 48 promotions, matching the record-high performance.

The key personnel are as follows:

· Head of Steel Division Kim Hakdong, President → Vice Chairman

· Head of Global Infrastructure Division Jeon Jungseon, Vice President → President

· Head of Marketing Division Jeong Tak, Vice President → President

· Head of Production Technology Division Lee Siwoo, Head of Safety and Environment Division Kim Jiyong, Pohang Steelworks Manager Lee Baekhee, Gwangyang Steelworks Manager Lee Jinsu

Promotions reflecting POSCO Group Chairman Choi Jeongwoo’s strong commitment to on-site prioritization and safety management at steelworks were also made.

Considering the importance of on-site production and safety, about 40% of all promotions to the level of general manager and below were from on-site personnel, and the scale of promotions for on-site steelworks employees at the manager level and above was significantly expanded by more than 10% compared to the previous year.

To foster future businesses under the holding company system, POSCO Group launched the Future Technology Research Institute to lead R&D in new businesses and new technologies such as secondary battery materials, hydrogen, and AI, and recruited many experts in related fields from outside.

Kim Dohyung, Executive Director of POSCO Chemical, was appointed as the head of the Secondary Battery Materials Research Institute under the Future Technology Research Institute, and Dr. Yoon Changwon from KIST was appointed as the head of the Hydrogen and Low Carbon Research Institute. Dr. Yoon Juung, a CCUS expert from the US-based KBR, was recruited as a research fellow.

Kim Jumin was appointed as the head of the AI Research Institute, Kim Pilho as the head of the AI Research Center, and Yoon Ilyong as the head of the AI Technology Group at POSCO ICT, all at executive level.

In addition to executives, about 60 experts, professors, and advisors in each relevant field were hired, actively breaking away from nepotism from the new business sectors and solidifying the status as an eco-friendly future materials company.

POSCO will strengthen ESG management by establishing organizations for promoting 2050 carbon neutrality and industrial health management.

To successfully transition to a low-carbon, hydrogen reduction steelmaking system, the Low Carbon Process Research Institute, Carbon Neutral Strategy Group, and Electric Furnace Business Promotion Task Force team will be newly established respectively.

To protect and promote the health of members through worker hygiene management, disease and infectious disease prevention, and blocking harmful factors, a Health Planning Office will also be newly established.

Executive Director Kwon Younggyun of the Legal Affairs Office, who leads corporate legal affairs, was promoted as a 40s executive, and Kang Juseong, CEO of POSCO partner company Taeun Co., Ltd., a health management expert, was appointed as the head of the newly established Health Planning Office, further strengthening merit-based personnel appointments.

Meanwhile, POSCO plans to conduct additional follow-up regular personnel appointments once the transition to the holding company system is confirmed at the extraordinary shareholders' meeting next month.

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

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