Posco’s CEO nominee invites public opinion for reform

2018.07.12 12:49:35 | 2018.07.12 12:55:38

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South Korea’s largest steelmaker Posco started an online campaign to invite outside advice on the areas for reform and direction for its future path to stay competitive.

“All of what Posco has achieved over the half of century is credited to the people, regional community, shareholders, corporate customers, and partner suppliers,” said Choi Jeong-woo, a nominee to head the steel powerhouse, in a statement.

He proposed to embark on the journey for the next 50 years after hearing out opinions on what the company can do to improve competitiveness and productivity.

Anyone can email suggestions to loveletter@posco.com or post opinions directly on the bulletin board on the company home page.

Choi replaces Kwon Oh-joon who offered to step down in April without completing his second term that ends in March 2020, seemingly due to the long-standing tradition of Korean politics that replaces leaders of public institutions with figures loyal to the new government when a new president takes office.

When approved by shareholders on July 27, Choi would become the first CEO at the steelmaker from non-metal engineering background.

A civilian group and a lawmaker from the leftist Justice Party claimed Choi had been involved in shady deals while he served major managerial executive posts at Posco under the past two conservative governments.

By Woo Je-yoon and Choi Mira

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