POSCO Holdings to relocate its headquarters to Pohang

POSCO Holdings Chief Executive Officer Choi Jeong-woo greeting at the annual shareholders‘ meeting Friday. [Photo provided by POSCO Holdings]

POSCO Holdings Inc., parent of South Korea’s biggest steelmaker, will relocate its headquarters to Pohang from Seoul after receiving approval from shareholders at its annual meeting Friday. The holding company set up its head office in Seoul early last year and faced strong opposition from citizens in Pohang, where its biggest steel mill is located. The company will implement a smart steel mill and promote a full-scale production of lithium and nickel for its battery business, POSCO Holdings Chief Executive Officer Choi Jeong-woo said.