POSCO CEO Chung Jon-yang has been elected as a new executive committee member of the World Steel Association (Worldsteel), an international trade body of the iron and steel industry, the steel maker said Tuesday.
Chung, 61, secured a three-year term during Worldsteel's annual assembly held in Beijing, Monday. The 15-man committee is the organization's highest decision-making body.
Former POSCO Chairman Lee Koo-taek, who stepped down from the vice president position of the association, was awarded an appreciation plaque for his contribution to the development of the global steel industry.
Worldsteel represents some 180 steel producers, including 18 of the world's 20 largest steel companies. Its members take up nearly 85 percent of the world's steel production.