POSCO Chairman Chang In-hwa: “We Must Lead in Emerging Markets Amid Global Supply Chain Shift”

[Photo = Special Economy]

Chairman Chang In-hwa of POSCO Group, marking the company’s 57th anniversary, urged employees to proactively identify new opportunities amid global changes in the steel industry. Emphasizing the importance of expanding into high-profit markets like the United States and India, he reaffirmed POSCO’s commitment to its global strategy.

In his commemorative address on the 31st, Chairman Chang stated, “Since its founding, POSCO has played a pivotal role in the steel industry, driving the national economy and earning recognition for its global competitiveness. Recently, we’ve been steadily expanding into future industries such as energy materials, ensuring continued growth.”

He acknowledged the current challenges POSCO faces, including high tariffs imposed by the U.S., reduced steel import quotas in the EU, and rising protectionism in emerging markets. “The external environment is tough,” he admitted, “but POSCO has a unique DNA that has helped us overcome crises before. We must continue to forge a path forward with our unyielding determination and ability to execute.”

Chairman Chang emphasized that planning alone is not enough to respond to change. He called for on-the-ground execution and agile action. “Instead of focusing on why something can’t be done, we need to think about how to get it done and persist until the end,” he added.

He particularly highlighted that strategic investments in high-growth regions could significantly boost profitability. “In markets like India and the U.S., where growth potential and profitability are high, we must expand locally integrated investments and new businesses centered on future materials,” he said.

POSCO is currently pursuing the construction of an integrated steel plant in India and is carefully exploring various options to advance into high-end processing in the U.S. These efforts are seen as part of a broader strategy to restructure global supply chains and tailor approaches to regional demand.

At the end of his speech, Chairman Chang reflected, “For over half a century, POSCO has overcome numerous hardships. Let us inherit the pioneering spirit of our founding generation and work together to build a path of sustainable growth for future generations.

 

 

 

 

POSCO Chairman Chang In-hwa: “We Must Lead in Emerging Markets Amid Global Supply Chain Shift” - 스페셜경제