POSCO E&C Launches Under Song Chiyoung: "Infrastructure Orders Halted, Safety Comes First"

Song Chiyoung Heads Straight to Accident Site Without Inauguration Ceremony
"With a Do-or-Die Determination, Safety Comes First"
Infrastructure Orders Suspended; Subcontracting Practices to Be Reformed

POSCO E&C has embarked on a sweeping overhaul, emphasizing "safety-first management" amid the greatest crisis since its founding. Song Chiyoung, who was inaugurated as the new president, skipped the inauguration ceremony and made his first official visit to the site of a fatal accident. The company has also suspended all new orders in its infrastructure division and announced plans to improve its subcontracting structure.

President Song Chiyoung, who was inaugurated as the new president of POSCO E&C. POSCO E&C.

On August 6, POSCO E&C announced that it had appointed Song Chiyoung, head of the POSCO Holdings Group Safety Special Task Force, as its new CEO and president, and had entered an emergency management system. POSCO E&C explained, "This measure reflects our grave sense of responsibility for serious industrial accidents and our commitment to restoring trust and driving safety innovation."

On the same day, President Song, without holding a separate inauguration ceremony, immediately visited the site of the "Gwangmyeong-Seoul Expressway Section 1" electric shock accident, received a briefing on the circumstances, and began on-site inspections to prevent recurrence. This site is symbolic, as it was where a foreign worker suffered a critical electric shock injury, prompting the government to consider revoking the construction license and exerting pressure on multiple fronts.

POSCO E&C stated that "building an effective, field-oriented safety culture is the top priority," and announced plans to fundamentally restructure its company-wide safety management system. President Song emphasized, "With a do-or-die determination, we will completely eliminate accidents at their source."

In addition, POSCO E&C has decided to temporarily suspend new orders for infrastructure projects. President Song stated, "Expanding business without guaranteeing safety is meaningless," and added, "The lives of workers and public trust come before immediate business performance."

The company also plans to improve its subcontracting structure. POSCO E&C stated, "We will address the chronic issues of subcontracting practices, which have been widely criticized in the construction industry, by consulting with experts and aim to establish a model case for South Korea."

President Song, the new CEO, is a veteran in the safety and facilities sector, having started in POSCO's steelmaking maintenance division and served as Deputy Head of Safety and Environment at Pohang Steelworks, Chief Safety Officer (CSO) at POSCO E&C, and CEO of POSCO M-Tech. He is recognized as a field-oriented leader with both hands-on and strategic experience.

Meanwhile, POSCO E&C currently operates 103 construction sites nationwide. This year, the company has already secured over 5 trillion won in maintenance project orders. However, due to a series of serious industrial accidents and declining trust, the outlook for orders in the second half of the year remains uncertain. Attention is focused on whether President Song's leadership can serve as a turning point for overcoming the crisis.

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