In Silence, POSCO Pepper Committee... Current Premium vs. Seasoned OB

As POSCO Group prepares to finalize its internal candidates for the next chairman, attention is focused on whether the choice will be a 'current executive premium' or a 'return of an old boy (OB).' Another key point of interest is whether a graduate from Seoul National University's Department of Metallurgical Engineering will regain power within the group after Chairman Choi Jung-woo, a Busan National University alumnus. The POSCO Holdings Chairman Candidate Recommendation Committee plans to hold its 5th meeting on the 10th to finalize the 'internal longlist candidates' after compiling the external reputation checks on the eight internal candidates on the 9th.

POSCO Building, Yeoksam-dong, Gangnam-gu, Seoul. Photo by Younghan Heo younghan@

Current Executive Premium vs. Experienced OB

The most prominent candidates for the next chairman in the industry are Kim Hak-dong, Vice Chairman and CEO of POSCO, born in 1959, the same year as his peers, Jung Tak, Vice Chairman and CEO of POSCO International, and Jung Ki-seop, President and Chief Strategy Officer (CSO) of POSCO Holdings. Vice Chairman Kim, a graduate of Seoul National University's Department of Metallurgical Engineering, is a genuine 'POSCO man' who joined POSCO and has held key positions in the steel sector, including Head of Pohang Steelworks, Head of Gwangyang Steelworks, and Head of Production Headquarters.

On the other hand, Vice Chairman Jung and President Jung share the common background of being 'Daewoo men.' Vice Chairman Jung, who graduated from Hankuk University of Foreign Studies with a major in Arabic, served as Head of Marketing at Daewoo International (now POSCO International) and as CEO of POSCO, and is a leading sales and marketing expert within the group. President Jung, born in 1961, is two years younger than the other two candidates. He graduated from Yonsei University with a degree in Business Administration, joined Daewoo Heavy Industries, and moved to POSCO when the POSCO Group acquired Daewoo International.

Among the internal candidates, there are two more graduates from Seoul National University's Department of Metallurgical Engineering: Yoo Byung-ok, Vice President in charge of Eco-friendly Future Materials at POSCO Holdings, and Kim Ji-yong, Director of the Future Technology Research Institute and Chief Technology Officer (CTO) at POSCO Holdings. Both were born in 1962, making them among the younger candidates. After privatization in 2000, former chairmen Yoo Sang-bu (Seoul National University, Civil Engineering), Lee Gu-taek (Seoul National University, Metallurgical Engineering), Jung Joon-yang (Seoul National University, Industrial Education), and Kwon Oh-joon (Seoul National University, Metallurgical Engineering) were all engineers from Seoul National University's science and engineering departments.

POSCO President Lee Si-woo (born 1960) and POSCO Future M CEO Kim Jun-hyung (born 1962) graduated from Hanyang University’s Department of Metallurgy and Sungkyunkwan University’s Department of Metallurgical Engineering, respectively. Han Sung-hee, CEO of POSCO E&C (born 1961), graduated from Yonsei University’s Department of Economics.

Among former POSCO executives, it is reported that Jung Chang-hwa, former Director of the Future Technology Research Institute at POSCO Holdings, and Hwang Eun-yeon, former Director of the POSCO Human Resources Development Institute, are also aiming for a spectacular comeback. In a phone interview, former Director Hwang said, "I have nothing to say at this stage. Please watch with interest."

POSCO Building, Yeoksam-dong, Gangnam-gu, Seoul. Photo by Younghan Heo younghan@

External Candidates Rumored Decline Consideration

The Candidate Recommendation Committee plans to compile the reputation checks on external candidates currently being recruited and narrow down the internal and external longlists by the 17th. Although candidates from the steel industry, other industries, and public officials have been mentioned, most have declined consideration.

Andong-il, former CEO of Hyundai Steel and former Head of POSCO Pohang Steelworks, reportedly received a recommendation contact but declined to apply. Former Vice Chairman Chung Jin-haeng, who served as Vice Chairman of Hyundai Motor Company and Kia, was also mentioned as a candidate but has not yet been confirmed to have received a recommendation. Former lawmaker Yoon Sang-jik, mentioned as a public official candidate, stated, "I have not received any related contact."

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