(Photo=Yonhap News)

 

[Alpha Biz= Reporter Kim Jisun] POSCO Group's "2030 Vision," released on the 2nd, includes plans for improving its corporate governance structure.

To prevent collusion between outside directors and management, POSCO Group plans to redesign the process for appointing and evaluating outside directors. The Governance Innovation Task Force (TF), established last April, is working on detailed plans. To promote compliance and ethical management within the group, POSCO also established the POSCO Clean Committee, which will be advised by five external members. Lawyer Kim Yong-dae, former Chief Judge of the Seoul Family Court, will chair this committee.

Additionally, the program for nurturing internal candidates for CEO positions will be expanded and reorganized. In December last year, POSCO Holdings made the Chairman Candidate Management Committee a permanent fixture under the board of directors, and now plans to strengthen its authority. This move is seen as an effort to enhance the independence of the board.

Chairman Jang In-hwa is emphasizing governance reform due to recurring issues such as factional disputes, external pressures, and potential collusion between outside directors and management every three years during the chairman selection process. A POSCO representative stated, "We will develop structural improvements to eliminate controversies related to corporate governance."

 

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