Former US Deputy Secretary of State Vegan: "POSCO's Goal to Develop Lithium, Hydrogen, and Battery Materials Is Right"

Choi Jung-woo, Chairman of POSCO Group (POSCO Holdings), met with Steven Biegun, former U.S. Deputy Secretary of State and advisor to POSCO America, to discuss global issues.

Choi Jung-woo, Chairman of POSCO Group, and key executives of the group, along with advisor Steven Biegun and his party, are discussing global issues and strategies on the 12th at the POSCO Center in Daechi-dong, Seoul.

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On the 12th, POSCO Group held a seminar at the POSCO Center in Seoul attended by Steven Biegun, who visited Korea as an advisor to POSCO America, and key executives of the group companies.

Advisor Biegun gave a lecture on "POSCO Group's Global Strategic Directions Amid Changes in the International Situation," covering topics such as U.S.-China relations and changes in trade policies of major countries, including the Inflation Reduction Act (IRA).

Born in 1963, Advisor Biegun majored in Russian and Political Science at the University of Michigan. He served as Chief of Staff and Chief Operating Officer of the U.S. National Security Council (NSC), Special Representative for North Korea Policy at the State Department, and Deputy Secretary of State. He also served as Vice President in charge of overseas operations at Ford Motor Company.

In August 2021, POSCO Group appointed former Deputy Secretary Biegun as an advisor through a consulting firm he belongs to and POSCO America, POSCO's U.S. subsidiary, to respond to global trade disputes and other issues.

Advisor Biegun stated, "I am confident that the company's goal to focus on nurturing seven core businesses beyond steel, including lithium, hydrogen, and secondary battery materials, to enhance the group's mid- to long-term value is correct," adding, "I will continue to contribute by offering various suggestions to help POSCO Group leap forward as a leading eco-friendly future materials company."

Choi Jung-woo, Chairman of POSCO Group (left), held a cordial meeting with Advisor Steven Biegun on the 12th at the POSCO Center in Daechi-dong, Seoul, discussing global issues and strategies.

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Key executives of POSCO Group and Advisor Biegun freely exchanged opinions on the impact on the group's core businesses such as steel, secondary battery materials and raw materials, and energy, as well as future strategic directions amid rapidly changing international situations including global trade policy changes and global energy transition policies, with Nasim Fousel, former Director of International Trade Legal Affairs at the U.S. Senate Finance Committee, who also attended the meeting.

They exchanged various ideas related to the group’s business, including the group’s business direction amid deepening U.S.-China economic bloc formation, changes in the investment environment for steel and energy industries in third countries such as India and the U.S., trends and trade policies related to the IRA in the U.S. concerning secondary battery materials and raw materials, and ESG (Environmental, Social, and Governance) evaluation policies of global investment institutions.

Chairman Choi Jung-woo said, "This meeting, which invited Advisor Biegun who has broad and deep experience not only in global diplomatic stages including Korea and the U.S. but also as a business trade expert, was an opportunity for POSCO Group executives to gain valuable insights on the group’s direction amid rapidly changing circumstances."

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