Choi Jung-woo Leaving POSCO: "Chairman Jang Candidate Talked About 'Material Patriotism'... Will Do Well"

"Eco-friendly Roots Bearing Fruit"

Choi Jung-woo, Chairman of POSCO Group. Photo by Hyunmin Kim kimhyun81@

Choi Jung-woo, Chairman of POSCO Group, said on the 18th at the POSCO Group chairman's farewell ceremony, "I hope that POSCO Group will continue to make efforts so that the seeds sown so far can take strong roots and bear abundant fruit in response to the spirit of the times called 'eco-friendliness.'"

Chairman Choi made these remarks at the farewell ceremony held at the POSCO Center in Gangnam-gu, Seoul. Before the ceremony, he said, "POSCO Group must continue to grow as a 100-year company representing eco-friendly future materials. Please support us a lot." He added, "Incoming Chairman Jang In-hwa said that he will 'advance with materials serving the nation,' which is a correct statement, and I believe he will do well."

Chairman Choi took office as POSCO Group chairman in July 2018 and succeeded in his reappointment in March 2021. He was recorded as the first chairman in POSCO Group's history to complete a reappointment term. During his tenure, he made bold investments in the secondary battery materials sector, leading a major transformation that turned POSCO Group from a traditional steel company into a future-oriented comprehensive materials company.

Chairman Choi is scheduled to hand over the chairmanship to incoming Chairman Jang In-hwa at the shareholders' meeting on the 21st. He emphasized, "In the rapidly reorganizing supply chain order and increasingly fierce technological hegemony competition, wiser and more prudent decisions must be made." He added, "POSCO Group must continuously open new horizons in new markets and new businesses." Furthermore, he said, "I hope the company will steadily grow as a beloved company by stakeholders, continuing the tradition of pursuing not only economic value but also social and environmental values under a robust ecosystem achieved with responsibility for coexistence and co-prosperity with stakeholders."

Chairman Choi also mentioned the biggest crisis during his tenure, the flooding incident at the Pohang Steelworks in September 2022. He described it as "an unprecedented journey of overcoming the flooding disaster, a miraculous time filled with POSCO's infinite potential, the firm will of employees, and the affection of partners, suppliers, local communities, and the global steel industry who cherish POSCO." He continued, "The emotion, excitement, and gratitude when the molten steel that had stopped flowing started again and the long-awaited products finally came out into the world are still vivid. The sweat and tears we shed will never dry up in our memories as 'One Heart, the Miracle of 135 Days.'"