Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Newly appointed vice chairman to lead POSCO International
POSCO International Vice Chairman Jeong Tak / Courtesy of POSCO Group
By Park Jae-hyuk
By Park Jae-hyuk
POSCO President Jeong Tak was promoted to vice chairman and was appointed as the new CEO of POSCO International, a move that will see it merge with POSCO Energy on Jan. 2, according to POSCO Group, Tuesday.
His appointment comes as the group carries out a year-end reshuffle of its president-level executives.
Given that Jeong is known as an expert in sales and marketing, POSCO Group expects him to stabilize the trading company in a short period of time, enabling POSCO International to create a synergy effect with POSCO Energy.
“He is expected to show his leadership to upgrade the LNG value chain and pioneering the eco-friendly energy market,” POSCO Group said in a press release.
Jeong Ki-seop, the incumbent CEO of POSCO Energy, was tasked with leading the business strategy team of POSCO Holdings, the group's holding company.
The position of POSCO Chemical president went to SNNC CEO Kim Jun-hyung, who is recognized for upgrading the POSCO affiliate's nickel business. He previously served as the CEO of POSCO ESM, helping the group expand its presence in the cathode materials industry.
POSCO CEO and Vice Chairman Kim Hag-dong retained his seat, as he was recognized for the earlier-than-expected restoration of the steelmaker's main steel mill in Pohang, North Gyeongsang Province, which was hit in September by Typhoon Hinnamnor that caused serious flooding.
The CEOs of POSCO E&C, POSCO ICT and POSCO Flow were also allowed to maintain their positions.