POSCO chairman Kwon Oh-joon is known to have notified of his intention to serve for another three year tenure to the board of directors which regular meeting was held on December 9 at POSCO Center.

Accordingly, the board of directors is expected to organize immediately the CEO Candidate Recommending Committee, which will undertake an examination of qualifications on a single candidate for chairman Kwon. If the Committee recommends chairman Kwon as the next CEO candidate, he is expected to get the final approval at the regular general meeting of stockholders scheduled earlier in 2017.

During the board of directors meeting this day it is said that chairman Kwon expressed his strong willingness to wipe out any doubts about his chairmanship as well as POSCO via a thorough examination.

Furthermore, chairman Kwon explained that POSCO has he claims half a success with the implementation over the past 3 years to achieve the recreative goal of “POSCO the Great”through a means of united effort of all executives and staff members to cooperate each other and push forward innovation even though the results are not fully satisfactory yet. Kwon detailed how to spread out the business performance that ensued to attenuate POSCO’s debt rate to a large extent and rebound the stock prices, which are now sending a clear sign that positive effect awaits the future of POSCO.

Meanwhile, POSCO has successfully completed 98 through the third quarter this year out of a total 149 restructuring goals, about which chairman Kwon disclosed indirectly his mind to challenge his another 3-year tenure because there remain lots of work to complete in the restructuring issues.