The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    INTERVIEWKorean adoptee in Germany reunites with birth family after 42 years

  • 3

    Korea to start mass production of KF-21 in 2024

  • 5

    Zoo shares sad story of what caused Sero the zebra to escape

  • 7

    Sandstorm from China forecast to push up fine dust levels in Korea

  • 9

    Daughter of North Korean dictator seen wearing $1,900 Dior jacket

  • 11

    Will Apple Pay launch boost local iPhone sales?

  • 13

    INTERVIEW'Welcome to world of art therapy'

  • 15

    INTERVIEWForbes-listed entrepreneur pursues partnerships with Samsung, LG, SK to help Ukraine

  • 17

    Indonesian students advise Korean bank on entering Indonesian market

  • 19

    Long viewed as an outsider, conceptual artist grabs global spotlight in his twilight years

  • 2

    Zebra captured after escaping from Seoul zoo

  • 4

    Will exempting foreign nannies from minimum wage boost Korea's birth rate?

  • 6

    Yoo Yeon-seok threatens to sue people spreading accusations about him

  • 8

    Kim Min-gyu, Go Bo-gyeol bid farewell to 'The Heavenly Idol'

  • 10

    Retailers rush to adopt Apple Pay system

  • 12

    INTERVIEWExpert pitches Laotian rural reform to solve NK's chronic food shortages

  • 14

    Kim Nam-gil to embark on Asia fan-meeting tour

  • 16

    Lee Som, Ahn Jae-hong to play married couple in Tving's new series

  • 18

    US Fed lifts key interest rate amid banking sector fears

  • 20

    Samsung, SK chiefs prepare for trips to China amid intensifying 'chip war'

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Sat, March 25, 2023 | 06:35
Companies
POSCO to relocate headquarters to Pohang
Posted : 2023-03-17 16:28
Updated : 2023-03-19 15:02
Baek Byung-yeul
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Choi Jeong-woo, chairman of POSCO Group, speaks during POSCO Holdings' shareholders' meeting in Seoul, Friday. Courtesy of POSCO Holdings
Choi Jeong-woo, chairman of POSCO Group, speaks during POSCO Holdings' shareholders' meeting in Seoul, Friday. Courtesy of POSCO Holdings

By Baek Byung-yeul

POSCO Holdings will relocate its headquarters from Seoul to Pohang, North Gyeongsang Province. Shareholders of the steel and battery material maker approved the move on Friday.

POSCO Group was largely criticized by Pohang residents for its decision to set up its headquarters in Seoul in January 2022 when it established POSCO Holdings. Pohang is the birthplace of POSCO, where its first steel mill was built in 1971.

Pohang residents, politicians and civic groups raised issue with decision stating that the southeastern port city would lose competitiveness if the holding company maintained its headquarters in Seoul.

Amid the objections, the company promised in February 2022 that it would relocate its headquarters to Pohang and last month, board members proposed the relocation agenda for Friday's shareholders' meeting.

The Pohang City Government expressed support for the group's recent decision saying that it "welcomes the relocation of POSCO Holdings which was finally passed at the shareholders' meeting."

Lee Kang-deok, mayor of Pohang also said, "This is meaningful as the country, local community and company can grow together."

"We should actively participate in fostering professionals so that companies can secure talented workers in the regions," the mayor added.

During the shareholders' meeting, Choi Jeong-woo, chairman of the group, pledged that the group would continue to pursue sustainable growth by intensifying eco-friendly businesses.

"Last year, we had to stop operations for the first time in 50 years due to Typhoon Hinnamnor, but we created a miracle as we could return to normal operation in only 135 days," Choi said. "Even under difficult conditions, we have also topped the world's most competitive steel company for 13 consecutive years as ranked by World Steel Dynamics."

"The steel business will pursue the development of a smart steel mill system with the industry's best cost competitiveness and establish low-carbon and eco-friendly production and sales systems as early as possible. For the secondary battery business, which is our future growth engine, we will promote full-scale production of lithium and nickel and continue to secure new resources and eco-friendly materials without a hitch," the chairman added.

Choi Jeong-woo, chairman of POSCO Group, speaks during POSCO Holdings' shareholders' meeting in Seoul, Friday. Courtesy of POSCO Holdings
Members of the Korean Metal Workers' Union stage a rally at the POSCO Center in Seoul, the location where the POSCO Holdings' shareholders' meeting was held, Friday. Yonhap

The shareholders' meeting also faced an unexpected turnout of workers from POSCO's subcontractors, who are also members of the Korean Metal Workers' Union's POSCO branch. The workers blocked all entrances to the POSCO Center in Seoul where the meeting was held, preventing not only shareholders but also employees from entering the building. They staged a rally asking the company to implement a period-based wage increase system, change its name and change the status of non-regular workers to regular workers.


Emailbaekby@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1Zoo shares sad story of what caused Sero the zebra to escapeZoo shares sad story of what caused Sero the zebra to escape
2Burnout: Cardiothoracic surgery residents work 102 hours a week Burnout: Cardiothoracic surgery residents work 102 hours a week
3North Korea will pay price for reckless provocations, warns Yoon North Korea will pay price for reckless provocations, warns Yoon
4Second daughter of Daesang chairman promoted to vice president Second daughter of Daesang chairman promoted to vice president
5More companies adopt electronic voting amid increase in shareholder activism More companies adopt electronic voting amid increase in shareholder activism
6Churches, Seoul gov't unite to fight low birthrate Churches, Seoul gov't unite to fight low birthrate
7What's next for Do Kwon? What's next for Do Kwon?
8FTC criticized for delaying approval for Hanwha's acquisition of DSME FTC criticized for delaying approval for Hanwha's acquisition of DSME
9Over 70% of firms unwilling to embrace longer workweek Over 70% of firms unwilling to embrace longer workweek
10Genesis launches 2023 G90 sedan Genesis launches 2023 G90 sedan
Top 5 Entertainment News
1Yoo Yeon-seok threatens to sue people spreading accusations about him Yoo Yeon-seok threatens to sue people spreading accusations about him
2Kim Min-gyu, Go Bo-gyeol bid farewell to 'The Heavenly Idol' Kim Min-gyu, Go Bo-gyeol bid farewell to 'The Heavenly Idol'
3Kim Nam-gil to embark on Asia fan-meeting tour Kim Nam-gil to embark on Asia fan-meeting tour
4Lee Som, Ahn Jae-hong to play married couple in Tving's new series Lee Som, Ahn Jae-hong to play married couple in Tving's new series
5Long viewed as an outsider, conceptual artist grabs global spotlight in his twilight years Long viewed as an outsider, conceptual artist grabs global spotlight in his twilight years
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group