POSCO Group Implements Emergency Management Following 16% Profit Decline
POSCO Group has launched a 'high-intensity emergency management system' following a 16% drop in operating profit for POSCO Holdings last year, with plans to restore profitability by 2025. Chairman Chang In-hwa emphasized the importance of structural reforms, particularly in the energy sector, and outlined strategies to enhance LNG production and global trading capabilities. The company also aims to improve safety management and accelerate AI transformation to increase competitiveness.
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POSCO Group has initiated a 'high-intensity emergency management system' in response to a 16% decline in operating profit for POSCO Holdings last year. Chairman Chang In-hwa announced this strategy during the first management meeting of the year, aiming to restore profitability by 2025.
He emphasized the need for structural reforms and highlighted the energy sector as a crucial profit driver, focusing on expanding LNG production and enhancing global trading capabilities. POSCO reported consolidated sales of 69.095 trillion Korean won and an operating profit of 1.827 trillion Korean won for the prior year, with the steel sector showing a 20% profit increase, while the infrastructure sector experienced a 49% decline. The company also aims to enhance safety management and accelerate AI transformation to boost competitiveness.
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