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Posco chief clinches second term in office

Choi Jung-woo. (Posco)
Choi Jung-woo. (Posco)

Choi Jung-woo, incumbent chairman of Posco Group and CEO of steelmaker Posco, extended his leadership as shareholders approved his reappointment Friday.

The steelmaker held its 53rd annual proxy meeting at its headquarters in Seoul’s Gangnam-gu to vote on six major agenda topics, including the reappointment of the current chief.

“I will further enhance production efficiency by maximizing the use of artificial intelligence amid challenging management situations,” Choi said upon accepting the position.

Addressing the group, he pledged to expand investment in improvements to value chains and to boost the company’s capacity for secondary batteries.

After joining Posco in 1983, Choi rose to the steelmaker’s top post in 2017 and assumed group chairmanship in 2018 when predecessor Kwon Oh-joon stepped down.

In light of a series of industrial accidents that have weighed heavily upon the group, Choi is expected to make workplace safety his top priority during his second term in office.

Also, Posco approved a change to its bylaws, adding a clause on the establishment of a committee to deal exclusively with environmental, social and governance issues.

By Bae Hyun-jung (