Choi Jung-woo, Chairman of POSCO Group, "The Year of Opportunity Leading the Future"

Choi Jung-woo, Chairman of POSCO Group, stated, "If we hone our capabilities and pioneer markets centered on the vision of eco-friendly growth, this year will be the inaugural year of opportunity for POSCO Group to lead future industries."

In his New Year's address on the 2nd, Chairman Choi diagnosed, "Amid a continued low-growth trend due to supply chain restructuring and demographic changes, geopolitical crises such as the Russia-Ukraine war and instability in the Middle East are intensifying the volatility of the global economy."

[Image source=Yonhap News]

He continued, "Looking back on POSCO Group's history of overcoming numerous hardships and growing steadily for over half a century, the strength to overcome difficulties lies within us," emphasizing, "We must secure world-class business and technological capabilities, flawlessly execute growth strategies for each core business, and generate results."

Chairman Choi said, "In the steel business, while fully establishing a supply system for low-carbon products, we must further solidify our position as a top-tier steelmaker by transitioning to a future-oriented portfolio and capturing global growth markets," adding, "We must steadily proceed with the construction of the HyREX pilot plant and the establishment of electric furnaces, and stabilize eco-friendly raw material supply chains such as HBI to faithfully implement the 2050 carbon neutrality roadmap."

Furthermore, he stated, "In the eco-friendly future materials sector, we need to expand lithium, nickel, and anode/cathode material businesses through cooperation with global partners, enhance supply chain competitiveness, and advance the product portfolio," adding, "For the lithium business, let us successfully complete phases 1 and 2 of brine and ore projects, invest in phase 3, and diversify the portfolio by developing unconventional resources in North America to leap forward as a top-tier lithium producer."

He also said, "In the eco-friendly infrastructure sector, we should create synergy by utilizing a unique energy value chain and enhance capabilities for eco-friendly transition," proposing, "As a leading company in eco-friendly future materials, we must focus on securing core technological capabilities centered on the Future Technology Research Institute, and continuously discover future growth engines for the group through new business planning and venture investments linked to core businesses."

Chairman Choi urged, "We must keep in mind that Real Value management, which simultaneously creates economic, environmental, and social value, is the new spirit of the age and a societal demand, and through the implementation of the corporate citizenship management philosophy, we should set an example in environmental, social, and governance (ESG) management," and added, "Let us create a happy workplace where employees can fully demonstrate their capabilities and feel a sense of fulfillment and satisfaction."

He concluded, "POSCO Group has sufficient strength to add value to the world and lead the future," stating, "The Real Value created by POSCO Group will be the cornerstone for realizing the grand growth vision of ‘a global business leader leading humanity’s sustainable future,’ and the fruits of this will be fully enjoyed by all members and stakeholders."

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