POSCO CEO Kwon Oh-joon hosted his first Investors Forum at the Korea Exchange in Yeouido, Seoul, where he announced the new management strategy, ‘growth with substantiality’, outlined by focusing on core steel businesses and establishing the foundation for mega-growth, business restructuring for management efficiency, and securing soundness in financial structure.
POSCO plans to secure global top-level financial stability by securing EBITDA of USD 10B and recover an A credit rating, and foster mega-growth engines in the source material and clean energy sectors by 2016, ultimately laying firm foundations to achieve the new vision of ‘POSCO the Great’ by securing both substantiality and growth. To achieve this mid-term management goal, POSCO has changed its strategic direction from the previous ‘own & compete’ based M&A to ‘connect & collaborate’ based strategic partnerships, with plans to seek various cooperation plans with domestic and overseas companies.
The group business structure will be changed from the former strategy of expanding the business based on sectors related to three major businesses of steel, materials and energy, to focusing on core steel business while fostering mega-growth engines in the two major sectors of source material and clean growth.
