"Recognized for Global Leadership" Chairman Choi Jung-woo Appointed to World Steel Association Executive Committee

Served Alternately as Vice President and President for 3 Years
Scheduled to Become the Fourth Korean President in History

[Asia Economy Reporter Choi Dae-yeol] Choi Jung-woo, Chairman of POSCO Group (photo), has been appointed to the executive board of the World Steel Association. His term is three years, during which he will serve as vice chairman until October next year, then as chairman for one year, and finally as vice chairman again for the last year. The World Steel Association is a non-profit organization composed of major steel companies worldwide, and if Chairman Choi assumes the chairmanship next year, he will become the fourth Korean to hold this position in history.

According to POSCO on the 14th, this decision was made at the World Steel Association member companies' annual meeting held online the previous day. The association's executive board consists of three members: one chairman and two vice chairmen. In his first year in office, Chairman Choi will work alongside Sajjan Jindal, chairman of Indian steel company JSW, and Wu Yong, CEO of China's Hebei Iron and Steel Group (HBIS), who serves as vice chairman.

POSCO ranks around sixth globally in crude steel production, and Chairman Choi was recognized for his leadership demonstrated through various activities within the association, leading to his appointment to the executive board. He has served as an executive committee member of the association and reportedly received strong support at the meeting. He is actively leading the steel industry's carbon neutrality efforts, notably by spearheading the Hydrogen Reduction Steelmaking International Forum held on the 6th, a first in the global steel industry. POSCO also chairs important task forces within the World Steel Association, including the Steel Megatrends Expert Group and the Demand Enhancement Council for Construction Steel. Additionally, POSCO has been ranked first for 11 consecutive years among competitive steelmakers by the global steel analysis agency WSD.

At the meeting, POSCO received awards in two categories?technological innovation and communication programs?at the 12th Steelie Awards. These awards, given annually by the World Steel Association since 2010, recognize steel companies contributing to industrial development. POSCO is the only Korean company to have received six awards in categories such as technological innovation and sustainability. In the technological innovation category, POSCO was recognized for developing the first giga steel roll stamping new forming process that reduces carbon dioxide emissions. In the communication category, POSCO was acknowledged for its achievements in widely promoting online and offline linked programs centered around Park1538, which opened in Pohang last March.