POSCO Holdings announced on the 14th that Seoul was selected as the host city for the 2027 general assembly at a meeting of World Steel Association member companies held in New Delhi, India.
The World Steel Association General Assembly is an annual event held every October where chief executive officers (CEOs) of global steel companies gather to discuss industry issues and seek cooperation for sustainable development. It will be the first time the general assembly has been held in Seoul since 2005, marking a span of 22 years.
The successful bid for the Seoul general assembly is an achievement that reaffirms the global standing of the Korean steel industry. As of last year, South Korea is the world's sixth-largest crude steel producer and ranks first globally in per capita steel consumption (844 kg). These figures demonstrate the competitiveness of the Korean steel industry, which has driven growth in demand sectors such as automobiles and shipbuilding. South Korea is also leading innovative transformation of its steel production base through the development of hydrogen-based direct reduced iron technology.
Jang In-hwa, Chairman of POSCO Group and President of the Korea Steel Association, actively worked to secure the Seoul general assembly. Jang (Chairman) personally appeared in a promotional video for the Seoul general assembly to encourage World Steel Association member companies to attend. He also attended the New Delhi general assembly, which was held over three days starting on the 11th, and discussed cooperation plans with the global steel industry.
Additionally, Jang (Chairman) discussed key issues at the executive committee meeting of this general assembly, including the development of a guideLINE for low-carbon steel products and the international standardization of carbon emission allocation methods. Regarding climate change response, he cited the damage caused by Typhoon Hinnamno in 2022 and emphasized the need to establish a public-private cooperative response system to prepare for extreme disaster situations.
He also moved forward with business cooperation with global steel companies. Jang (Chairman) met successively with representatives of major steel companies, including Sajjan Jin Dal (Chairman) of JSW Group, during the general assembly period to seek opportunities to strengthen business cooperation. POSCO is currently promoting a joint investment in an integrated steel plant with JSW Steel in India. This is part of a complete localization investment based on the POSCO Group's "Triple Core" strategy. POSCO aims to complete a growth model that pursues quantitative growth in promising overseas markets where profitability and growth potential are expected, and links this to strengthening the qualitative competitiveness of its domestic steel business.
in INDUSTRY
