Yonhap News AgencyMarch 14, 2014 03:01
By Nam Kwang-sik
SEOUL, March 14 (Yonhap) -- An engineer savvy in technological development took office Friday as chairman of the world's fifth-largest steelmaker, POSCO, with a four-point reform plan to enhance competitiveness and weather an industry slump.
POSCO's shareholders and board of directors formally approved Kwon Oh-joon, 64, as the company's eighth chairman. He will serve through March 2017, leading the country's sixth-largest conglomerate by assets.