“Let’s Secure Premium Global Competitiveness and Profitability”

POSCO INSIDE

The POSCO Family year-opening ceremony was held… Announced mid- to long-term strategic direction including 5 core tasks

POSCO opened 2014 as a year of innovation and opportunity with a powerful ceremony.

“Let’s Secure Premium Global Competitiveness and Profitability”

“Let’s Secure Premium Global Competitiveness and Profitability”

On January 2nd, the first working day of the year, POSCO hosted its POSCO Family year-opening ceremony in the Pohang headquarters main conference hall, reflecting on 2013 and announcing the company’s mid- to long-term strategic directions as well as 5 core tasks.

The year’s opening ceremony included four portions, under the concepts of hope, global competitiveness pledge, advancement, and harmony.

400 employees and officials of POSCO, investing companies, external partner companies, and PCP suppliers gathered in the main conference hall at Pohang headquarters and the Gwangyang Innovation Center for the year-opening ceremony and pledged a committed beginning. The ceremony was broadcast live on Television and webcasts.

The hope portion began with an opening video for the year of the horse. The video discussed the meaning of 2014 coming 120 years after the Political Reforms of 1894, emphasizing how the Chosun people’s wisdom and innovation form the roots of the rich and powerful Korea of today. The motivating power to survive in a global management environment focused on a passion for assisting Korea through steel production, POSCO’s founding spirit, and the spirit of innovation that is not satisfied with the successes of today.

In the global competitiveness pledge portion, New Year’s wishes for POSCO Family employees were shown, along with interviews with employees who participated in the POSPIA 3.0, Indonesian integrated steelworks, and FINEX Plant 3 projects that contributed to securing POSCO competitiveness.

“Let’s Secure Premium Global Competitiveness and Profitability”

The advancement portion aimed at encouraging a strong commitment to forward momentum following the spirit of the blue horse, and began with a big drum performance followed by a reflection on 2013, this year’s management principles, and the 5 core tasks.  POSCO did not rest on its laurels as an ‘overall material and energy company’ last year, but maintained a profitability gap with major competitors despite global economic stagnation and over-supply, and was selected as the world’s most competitive steel company for the fourth consecutive year.  As POSCO does not settle it predicted that 2014 would be a year of low-growth structure just as 2013, setting a mid- to long-term strategy for ‘maximizing profitability’ and ‘strengthening core competitiveness.’ The 5 core tasks selected were: profitability-based project execution, global business risk management, early leading project fostering, the securement of soft competitiveness suited to a creative economic era, attainment of a safe and encouraged POSCO Family.

CEO Chung Joonyang delivered his best wishes to employees on achieving satisfactory management results despite the difficult management environment and noted that the company attained great results as an overall material and energy company through projects such as completion of the first integrated overseas steelworks.  CEO Chung emphasized in particular that all employees should join together with one heart and mind to ensure premium global competitiveness and profitability.

Prior to the event, CEO Chung Joonyang visited Pohang Steelworks Steel Manufacturing Plant 3, Cold-rolled Plant 1, and the STS Annealing Pickling Plant to encourage employees.

 Juseong Kim manha@posco.com

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