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Biz News Korea(Eng)
Posco chief appointed vice chairman of WSA
- Collected
- 2017.10.19
- Distributed
- 2017.10.20
- Source
- Go Direct
![(From left) Posco CEO Kwon Oh-joon, newly appointed vice chairman of World Steel Association, and Nippon Steel and Sumitomo Metal Corp. Representative Director and President Kosei Shindo, new chairman of World Steel Association. [Picture by Posco]](http://file.mk.co.kr/meet/neds/2017/10/image_readtop_2017_691513_15083933493067340.jpg)
(From left) Posco CEO Kwon Oh-joon, newly appointed vice chairman of World Steel Association, and Nippon Steel and Sumitomo Metal Corp. Representative Director and President Kosei Shindo, new chairman of World Steel Association. [Picture by Posco]
According to the rule of the association, Kwon will be automatically promoted to chairman of the world steel organization after serving as vice chairman for a year under his three-year term - from 2017 to 2020 - in the leadership board, the Korean steelmaker said.
A new member who newly joins the WSA’s leadership group serves his or her term for three years. According to its rule, the new member will serve as vice chairman in the first year, chairman in the second year and vice chairman in the last year of the term. At this year’s board meeting, Kosei Shindo, representative director and president of Nippon Steel and Sumitomo Metal Corp., was appointed chairman after spending his first year as vice chairman.
Posco expected Kwon’s new position at WSA would help Korean steelmakers raise voice in negotiations dealing major issues in the world steel industry. In particular, amid rising protectionism in the industry, industry observers keep an eye on how Kwon would coordinate incompatible interests of different parties.
Before the board meeting, Posco on Monday won the prize of “Innovation of the year” at the 8th Steelie Awards hosted by WSA. It is awarded to a member company that has made a breakthrough in steel technologies or environment research.
By Moon Ji-woong
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]