POSCO International hires IR expert to bolster shareholder value

POSCO International Investor Relations Division Senior Vice President Chung In-cheol / Courtesy of POSCO International

By Lee Kyung-min

POSCO International, the trade affiliate of POSCO Group, has appointed Chung In-cheol as the first head of a new investor relations division, aimed at bolstering the firm's share price and subsequent shareholder value, the firm said Thursday.

The new position is redefining the company as an “eco-friendly, comprehensive player” in the global market.

Chung's previous roles include investor relations executive at Seoul Semiconductor and CHA Biotech.

POSCO International plans to lead investor relations activities, centering on the newly established department using his extensive work experience and highly regarded industry analysis capabilities.

The affiliate will operate Value Day, whereby shareholders and the firm will be able to communicate openly about corporate growth strategies and goals of key businesses, including energy and food.

To fortify digital communication, video clips will be produced and shared on the firm's YouTube channel to help investors better understand the directives of the firm and its core businesses.

“We will be able to communicate more effectively with shareholders about the firm's strengthened competitiveness and growth potential with a variety of investor relations activities,” Chung said, according to the firm.

POSCO International announced in April its plans to become a green energy and steel business, as part of a strategy to raise its market capitalization to 23 trillion won ($17 billion) by 2030.

During a meeting attended by executives and employees, the trade affiliate announced its growth strategy and vision seeking to prioritize sustainable growth.

The green drive will fortify the value chain of major businesses and create POSCO Group's future growth drivers.

The firm was incorporated as POSCO Group in 2010 and has since been expanding its market presence globally.

Examples are gas field operations in Myanmar in 2013, a POSCO P&S merger in 2017 and the establishment of POSCO Mobility Solution in 2020. It merged with POSCO Energy this year.