POSCO Group, Major Executive Appointments... Vice Chairman Jeong Tak Promoted

Follow-up Group Executive Personnel Changes Scheduled for Implementation in January Next Year

(From left) Jung Tak, Vice Chairman of POSCO International; Jung Ki-seop, Head of Management Strategy Team at POSCO Holdings; Kim Jun-hyung, President of POSCO Chemical. Photo by POSCO Group

[Asia Economy Reporter Choi Seoyoon] On the 27th, POSCO Group carried out regular executive appointments, including promoting Jung Tak, President of POSCO, to Vice Chairman of POSCO International, the integrated corporation starting anew.

POSCO Group announced that it conducted appointments for the president-level executives ahead of the regular executive appointments on the same day. The group explained, "With global economic uncertainties expected to deepen next year, the focus was on appointments aimed at overcoming crises and future growth while maintaining stability."

Jung Tak, the current President of POSCO, was promoted to Vice Chairman and appointed as the new CEO of POSCO International, the integrated corporation of POSCO International and POSCO Energy launching on January 2 next year. Vice Chairman Jung is a leading sales and marketing expert within POSCO Group, having served as Head of POSCO International Kuala Lumpur Branch, Head of POSCO Energy Shipbuilding Marketing Office, Head of POSCO Steel Business Division, Head of POSCO Marketing Division, and President & CEO of POSCO.

Based on his practical experience at POSCO International and his experience as CEO of the parent company POSCO, Vice Chairman Jung is expected to stabilize the organization early following the merger and create synergy. He is also anticipated to demonstrate leadership in expanding and advancing the LNG value chain and pioneering the eco-friendly energy market, including hydrogen.

Jung Ki-seop, the current President of POSCO Energy, was appointed as Head of POSCO Holdings' Management Strategy Team. The new Head Jung is a leading financial expert within the group, having served as Head of POSCO International Management Planning Office, Head of POSCO Domestic Business Management Office, and President & CEO of POSCO Energy. With a deep understanding of the group's business sites and extensive restructuring experience, he is expected to play a significant role in group-level crisis management and enhancing business competitiveness.

Kim Jun-hyung, the current President of SNNC, was appointed as President of POSCO Chemical. The new President Kim is credited with elevating SNNC's nickel business to a higher level by linking it with secondary battery high-purity nickel business. Previously, as President & CEO of POSCO ESM, he contributed to stabilizing and expanding POSCO Group's early cathode material business and is recognized as a leading secondary battery material expert within the group.

Kim Hak-dong, the current Vice Chairman and CEO of POSCO, was retained. Despite the unprecedented steel mill flooding caused by the Naengcheon overflow in September, he made a significant contribution to the early normalization of operations based on his extensive field experience and leadership. He is expected to continue his role in stabilizing operations and enhancing eco-friendly steelmaking competitiveness next year.

Han Sung-hee, President of POSCO Construction; Jung Deok-gyun, President of POSCO ICT; and Kim Kwang-soo, President of POSCO Flow, were also retained considering their stable leadership of their businesses under difficult conditions.

Meanwhile, follow-up POSCO Group executive appointments are scheduled to be conducted in January after the steel mill flood recovery is somewhat completed.

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