Posco Accelerates Personnel and Organizational Restructuring Amid 'Holding Company Transition'

[Asia Economy Reporter Jeong Dong-hoon] POSCO, which decided to transition to a holding company system after 54 years since its founding, has launched a 'Management Structure Advancement Task Force (TF)' for personnel and organizational restructuring centered on new businesses.

According to industry sources on the 6th, the Management Structure Advancement TF will transition to a holding company with the launch of POSCO Holdings on the 2nd of next month. The TF is composed of the ▲Management Strategy Team ▲Eco-friendly Future Materials Team ▲Future Technology Research Institute, focusing on functions that the holding company will primarily perform in the future, such as discovering new future businesses, business and investment management, leading ESG (Environmental, Social, and Governance) management, and research and development.

Jeon Jung-sun, Head of Global Infrastructure Division, was appointed as the head of the Management Strategy Team within the TF; Yoo Byung-ok, Head of Industrial Gas and Hydrogen Business Division, as the head of the Eco-friendly Future Materials Team; and Jeong Chang-hwa, Head of New Growth Division, as the head of the Future Technology Research Institute.

POSCO stated, "We recognize the launch of the holding company as a crucial momentum for the next 100 years of the company and will focus on swift restructuring into a holding company system."

On the morning of the 28th of last month, POSCO held an extraordinary general meeting of shareholders at the POSCO Center in Gangnam-gu, Seoul, where it submitted a division plan to split POSCO into the holding company 'POSCO Holdings' and the steel business company 'POSCO' through a physical division, which was approved as originally proposed.

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