POSCO Future M Recommends New Internal and External Directors Including President Eom Gi-cheon

POSCO Future M held a regular board meeting and resolved to propose the nomination of internal and external director candidates as agenda items for the regular shareholders' meeting, the company announced on the 24th.

From the left, Eom Gi-cheon, President of POSCO Future M; Jeong Dae-hyeong, Head of Planning Support Division at POSCO Future M; Cheon Seong-rae, Head of Business Synergy Division at POSCO Holdings; Heo Gyeong-uk, Outside Director of Doosan. Provided by POSCO Future M

At the meeting, the board recommended Um Gi-cheon, President of POSCO Future M, and Jeong Dae-hyeong, Head of the Planning Support Division at POSCO Future M, as new internal directors. President Um has held key positions including team leader of POSCO Lithium (PosLX) Business Promotion Group, head of overseas subsidiaries (China and Vietnam), head of Steel Planning Office, and head of Marketing Strategy Office. Last year, he was appointed head of the Energy Materials Division at POSCO Future M, leading the secondary battery materials business.

Head Jeong has served in strategic roles such as head of POSCO Management Strategy Office and head of POSCO Holdings Management Strategy Team. Last year, he was appointed head of the Management Planning Division at POSCO Future M, overseeing finance and strategy operations.

As a new external director candidate, the board recommended Heo Kyung-wook, former Vice Minister of Strategy and Finance. Candidate Heo is an expert in economics and international affairs with over 30 years of experience, having held key domestic and international positions such as First Vice Minister of Strategy and Finance and Ambassador Extraordinary and Plenipotentiary to the OECD Korea Delegation.

Even after retirement, he has proven his expertise in international finance through roles such as advisor to the ASEAN+3 Macroeconomic Research Office (AMRO) and chairman of the advisory committee of the CFA Korea Association (holding a CFA certification). Based on his experience as an external director at major companies like GS and Doosan, he is expected to support future global strategies and investment decisions.

For other non-executive directors, the board recommended Cheon Seong-rae, Head of Business Synergy Division at POSCO Holdings. Head Cheon has served as head of POSCO Hot Rolled Wire Marketing Office, head of overseas subsidiaries (India), head of Steel Team at POSCO Holdings, and head of the Carbon Neutrality Team. With his broad business experience and deep understanding of the materials business, he is expected to contribute to the future growth of POSCO Future M.

The nominated internal and external director candidates will be officially appointed at the regular shareholders' meeting scheduled for the 24th of next month. Besides the nomination of director candidates, the board resolved to submit agenda items including ‘Approval of the 2024 Financial Statements,’ ‘Appointment of Audit Committee Members,’ and ‘Approval of Director Compensation Limits’ to the shareholders' meeting.

Meanwhile, the board also approved the agenda to sell the Gumi anode material plant in Gyeongbuk to Mirae Advanced Materials. POSCO Future M has been reviewing ways to utilize the Gumi anode material plant since last year as part of portfolio adjustments following changes in its main products. It conducted a confidential competitive bidding process targeting companies interested in acquisition. As a result, Mirae Advanced Materials was selected as the preferred negotiation partner, and sale negotiations have been underway. With this board resolution, the sale process is expected to be completed within the first half of the year.