Posco chief to oversee new trade unit, navigate global trade
South Korean steel giant Posco Group is launching a high-level trade policy team under the direct oversight of Chairman Chang In-hwa, in a bid to sharpen its response to mounting global trade challenges and consolidate its standing across diverse industries.
The decision, made during a board meeting held Thursday by Posco Holdings, the group's holding company, marks a strategic shift as Chang celebrates his first anniversary as chairman.
The newly established global trade policy team is intended to enhance Posco's ability to navigate trade dynamics in critical sectors such as rechargeable batteries, energy and its core steel business amid heightened global trade tensions, intensified by Donald Trump's second administration.
This dedicated unit replaces the previous framework, which primarily dealt with steel-related trade and was managed by Posco's communication division.
'The new team is expected to reinforce our trade control tower function across the group,' a Posco official explained.
Leading the new team is Kim Kyung-han, head of Posco Holdings' communication division, who brings experience in trade and commerce from his previous roles at the Ministry of Foreign Affairs.
During the company's general meeting of shareholders held the same day, Chairman Chang reaffirmed his commitment to long-term growth and profitability.
'A challenging business environment is forecast this year, with the global tariff war intensifying, worsening export conditions and the weakening of the Korean won increasing cost burdens,' Chang said. 'We will make all-out efforts to establish a long-term growth structure by strengthening the fundamental competitiveness of our steel, energy and materials businesses.'
The group also introduced stricter guidelines for a chairman's reappointment to a third consecutive term. Under the revised rules, a chairman seeking a third term must secure approval from more than two-thirds of all shareholders, a leap from the previous requirement of just half.
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