POSCO Chairman Choi Jung-woo Expresses Intention to Seek Reappointment

Board Meeting Scheduled for December 11 to Confirm Reappointment

[Asia Economy Reporter Hwang Yoon-joo] Choi Jung-woo, chairman of POSCO, expressed his intention to renew his term at the POSCO board meeting held on the 6th.

On the 23rd, a POSCO official stated, "Chairman Choi has expressed his intention to renew his term," adding, "The decision on the renewal is expected to be finalized at the board meeting scheduled for December 11."

According to POSCO's articles of incorporation, the chairman must declare their intention to renew at least three months before the end of their term. With Chairman Choi expressing his intention to renew, the POSCO board resolved to operate a CEO candidate recommendation committee. Currently, the committee is conducting qualification assessments for renewal, including interviews related to internal and external evaluations of Chairman Choi. If he passes the qualification review, he will be recommended as the next chairman candidate and will be finally confirmed as the next chairman with a three-year term through the general shareholders' meeting and board meeting in March next year.