Choi Jung-woo, Chairman of POSCO Group, Receives Global Metal Awards 'CEO of the Year'

Selected as the First in East Asia

[Asia Economy Reporter Choi Seoyoon] Choi Jung-woo, chairman of POSCO Group, was selected as the ‘CEO of the Year’ at the Global Metals Awards.

According to POSCO Group on the 20th, Chairman Choi received the ‘CEO of the Year’ award at the 10th Global Metals Awards held last month in London, UK, hosted by Standard & Poor’s (S&P) Global Commodity Insights. This is the first time a CEO of an East Asian steel company has received this award. Previously, it was exclusively awarded to CEOs of steel companies in the Americas and Europe.

Chairman Choi was highly evaluated for innovating the management structure through the transition to a holding company after his inauguration, leading the group’s core new growth businesses, executing strategic investments, and achieving the highest-ever performance since the company’s founding in 2021.

He was also praised for improving financial soundness by raising the credit rating from BBB+ to A-. Additionally, he received acclaim for his widely recognized leadership in the global market, including being appointed as the chairman of the World Steel Association.

Chairman Choi said, “POSCO, founded in 1968 in a small fishing village in Pohang, has grown into one of the most competitive steel companies in the world today. This year, we transitioned to a holding company system to step forward as an eco-friendly future materials company. I believe the ‘CEO of the Year’ award is a result created together through the dedication of all POSCO Group employees.”

Along with the ‘CEO of the Year’ award, POSCO Group also won a total of four awards, including ‘Metals Company of the Year,’ ‘Industry Leadership: Steel,’ and ‘Deal of the Year.’

The ‘Metals Company of the Year’ is the most prestigious award given to the company with the best performance across the entire steel, metal, and mining industries. Despite difficult business environments such as the pandemic, global protectionism, and supply chain risks, POSCO Holdings, which set clear goals for carbon neutrality and demonstrated leadership as a representative eco-friendly future materials company beyond steel, received this award.

POSCO was recognized for being the first Asian steel company to declare carbon neutrality, accelerating investment and technology development, and achieving the highest-ever performance since its founding, earning the ‘Industry Leadership: Steel’ award. With this, POSCO became the first company to win the ‘Industry Leadership: Steel’ award three times, in 2018, 2020, and this year.

Additionally, POSCO Group’s joint venture with China’s Hegang Group, Hegang Pohang Qichepan Youxian Gongsi (hereafter Hegang Pohang), won the ‘Deal of the Year’ award. Hegang Pohang is an eco-friendly automotive steel sheet specialized steel company established by combining the strengths of POSCO Group and Hegang Group. It was honored for its expected strategic advantage in China, the world’s largest automotive steel sheet market and a battleground for eco-friendly automotive steel sheets.

Chairman Choi took office as the 44th chairman at the World Steel Association General Assembly on the 18th of last month. Along with Vice Chairman Sajjan Jindal, chairman of India’s JSW (Jindal Steel Works Limited), and Leon Topalian, president of the US’s Nucor, he will lead the global steel industry for the next year.

Meanwhile, S&P Global Commodity Insights is the world’s largest information analysis organization in the steel, raw materials, and energy sectors. Since 2013, it has awarded companies and individuals who have achieved remarkable results in 17 categories, including ‘CEO of the Year,’ ‘Company of the Year,’ and best companies by sector, targeting global companies in the steel, non-ferrous metals, rare metals, aluminum, and mining industries.

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