POSCO International assigns new CEO to lead the company

POSCO International announced its appointment of a new chief executive officer this week. The South Korean trade firm named Jeong Tak as the leader and he is set to start working under his new title on Jan. 2.

Along with his new CEO role, Jeong was also promoted to become POSCO’s vice chairman. His appointment comes as the company is preparing to merge with Posco Energy. The unification is set to take place on Jan. 2 as well.

The new Posco chief has been with the company for more than 38 years already. He joined the firm in 1984 and had been spearheading marketing works for different units of the company since being hired decades ago.

As per Korea Joongang Daily, Jeong was the president of Posco steelmaking company since March March 2022. Apparently, he has moved to Posco International where he will start his new post.

“Based on his experience in Posco and Posco International, he will play a key role in stabilizing the company after the merger,” the company stated on Tuesday, Dec. 27.

On the other hand, the company’s other subsidiaries such as Posco Chemical also appointed new executives to lead the firm. Kim Jun Hyung, SNNC’s current chief, was named its new head. SNNC is a nickel supplier jointly operated by Posco and SMSP, the largest nickel ore exporter on the French Pacific island territory of New Caledonia.

Kim is ideal for the post as he is an expert in the materials business, especially in the area of nickel trade. He also managed Posco ESM before, and as its chief, he helped boost its presence in the cathode materials industry.

Meanwhile, Jeong Tak who is known as a marketing and sales expert is expected to stabilize Posco International in a short time. Under his leadership, the Posco Group is also looking to create a synergy effect with POSCO Energy.

"He is expected to show his leadership to upgrade the LNG value chain and pioneering the eco-friendly energy market," The Korea Times quoted the Posco Group as saying in a statement.