POSCO President Lee Si-woo Inaugurated... Emphasizes Core Competitiveness in Steel Industry

Inauguration Ceremony Held on the 28th at POSCO Headquarters Main Auditorium

Siwoo Lee, CEO of POSCO. Photo by POSCO

Lee Si-woo, CEO of POSCO, officially took office.

The inauguration ceremony was held on the 28th at POSCO headquarters' main conference hall, attended by about 200 executives and employees, including representatives of the general assembly, partner and supplier representatives, POSCO masters, and employee representatives.

At the inauguration, CEO Lee presented four strategic directions: ▲creating a happy workplace free of accidents ▲securing core competitiveness in steel ▲transitioning to a competitive low-carbon system ▲building a culture of communication and harmony.

First, POSCO plans to promote safety activities focused on execution with the participation of all employees, strengthen the safety management system by developing smart safety solutions utilizing AI and IoT, and create a safe workplace for everyone entering the business sites by expanding training opportunities for affiliates.

Secondly, through company-wide innovation activities, POSCO aims to improve profitability and secure a super-gap competitiveness. In manufacturing processes, a smart steel mill with the best cost competitiveness will be realized based on Digital Twin technology, and in non-manufacturing areas such as marketing and purchasing, office productivity will be innovated through metaverse implementation. Additionally, by shifting the product portfolio and expanding sales of premium plus products focused on high value-added items, a solid profit structure will be established, while further strengthening global leadership through quantitative growth in overseas steel businesses.

Premium Plus refers to materials for core components in high-growth, high-profit eco-friendly industrial sectors such as low-carbon products and Hyper NO (high-efficiency non-oriented electrical steel sheets).

Thirdly, POSCO plans to secure its unique technological capabilities in the low-carbon field, including the completion of the HyREX test facility design and high-grade steel production based on large electric furnaces, and establish a stable low-carbon raw material procurement system through cooperation with customers. To support the transition to a low-carbon system, POSCO intends to build consensus with customers, local communities, and the government to ensure effective policies.

POSCO will build a culture of communication and harmony based on trust to promote joint development among labor, partners, and suppliers. Employees will embody flexible and smart working methods, and the company will spread a culture of collaboration that enables individuals to take initiative in their work and create shared achievements, while actively fostering a culture of win-win cooperation with partners and suppliers.

CEO Lee Si-woo stated, "The steel industry has been and will continue to be the core business of the POSCO Group," and urged, "Let us together build a first-class company where all POSCO members can feel pride and honor and grow."

New CEO Lee Si-woo joined POSCO in 1985 and has served as head of POSCO-Maharashtra, head of Steel Production Strategy Office, director of Gwangyang Steelworks, head of Safety and Environment Headquarters, and head of Production Technology Headquarters.

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