Kim Hak-dong, Vice Chairman of POSCO, "We will become a global steel leading company through eco-friendly investment"

Founding General Meeting on the 2nd, Focusing Capabilities on Steel Business
Accelerating Transition to Safety Enhancement and Eco-Friendly Production System
Vice Chairman Kim Hak-dong: "We Will Become a 100-Year Steel Company with World-Class Competitiveness"

POSCO newly launched as a steel-specialized business company on the 2nd. POSCO plans to focus all its capabilities on the steel business to further strengthen safety management and accelerate the transition to an eco-friendly production system, firmly establishing the world's best steel competitiveness. The photo shows Vice Chairman and CEO Kim Hak-dong having an "open dialogue" with employees. Photo by POSCO

[Asia Economy Reporter Donghoon Jung] "We will focus all our capabilities on the steel business and contribute to the economic development of local communities through continuous large-scale investments aligned with future-leading businesses, growing together."

Kim Hak-dong, Vice Chairman and CEO of POSCO, newly launched as a specialized steel business company, declared that he will accelerate the transition to an eco-friendly production system to solidify the world's best steel competitiveness.

According to POSCO on the 3rd, Vice Chairman Kim Hak-dong emphasized at the founding general meeting held the day before, "The newly born steel company POSCO must be a company with the world's best competitiveness based on safety and eco-friendliness, a corporate citizen steel company where employees are happy and stakeholders such as customers, suppliers, and local communities develop together."

Vice Chairman Kim stated, "We will continuously make large-scale investments in future-leading businesses such as establishing a by-product hydrogen production system in preparation for the expansion of hydrogen demand and installing new electric steel sheet facilities in response to the increasing demand for eco-friendly automobiles."

At the inauguration ceremony, there was an 'open dialogue' session where employees asked questions about POSCO's future vision and role. At this event, he encouraged employees by saying, "Today’s POSCO, leading the global steel industry, is the result of the sweat and efforts we have poured, and POSCO’s future competitiveness lies precisely with you."

He will continue on-site management as well. Vice Chairman Kim plans to visit the Pohang Steelworks on the 4th and 7th and the Gwangyang Steelworks on the 7th to directly listen to and communicate with employees. In particular, he intends to encourage on-site workers who are striving to maintain world-class competitiveness and urge them to create a safe workplace.

Meanwhile, at the general meeting, POSCO appointed Vice Chairman Kim Hak-dong and President Jung Tak as inaugural CEOs (co-CEOs). For outside directors, they appointed Professor Park Jae-hwan of the Department of Business Administration at Chung-Ang University and former Professor Lee Min-ho of the Department of Environmental Science at Kyung Hee University. Inside directors appointed were Lee Si-woo, Head of Production Technology Headquarters (Vice President), Kim Ji-yong, Head of Safety and Environment Headquarters (Vice President), and Yoon Deok-il, Head of Management Planning Headquarters (Vice President). Vice Chairman Kim Hak-dong will serve as the chairman of the board.

Currently, under the Commercial Act, outside directors are only mandatory for listed companies and financial companies, but POSCO appointed outside directors to establish advanced governance and enhance management expertise.

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