POSCO : Family starts new year with power at the year opening ceremony

Held on January 2nd at the headquarter main conference hall ? Shared this year`s management goals

POSCO powerfully started the new year by pledging to increase profitability by implementing a smart company and becoming a loved company as well.

POSCO held the year opening ceremony on January 2nd at the Pohang headquarter main conference hall and shared 2012 POSCO Family management goals.

300 employees of POSCO, investing companies, and outsource partner companies attended the year opening ceremony on site in Pohang, while the Gwangyang Innovation Center was connected via video conferencing. The ceremony was also broadcast live through internal televisions and personal PCs.

The ceremony which opened with the cheerful greetings of Park Byeonggi and Yoo Sojeong, both new employees, began with a video delivering the messages of hope for the New Year, followed by silent prayer for the founder and Honorary Chairman Park Taejoon who passed away this past December as well as an employee who passed away during duty.

For the New Year`s speech, CEO Chung Joonyang presented through Powerpoint the new year`s plans, requesting carry out a strong and integrated business by establishing a POSCO Family business model based on comprehensive materials and infrastructure to proactively respond to the changing environment.

CEO Chung noted that the sense of crisis internally and externally and recent situations are similar to the times of the Japanese invasion of Korea in 1592 when sullen clouds dwelled, warning employees that without thorough preparation the coming year can become a year of crisis. He additionally explained this year`s tasks to increase profitability by implementing a smart company and also become a loved company.

CEO Chung said, ``The goal is to increase the current profit margin gap with competitors by more than 2% through POSCO style paradox management which brings together unique product development, super cost reduction, and global total solution marketing. Paradox management means combining two elements that are difficult to exist together such as differentiation and low cost strategies to improve results. He continued emphasizing, ``We must proactively develop world best, world first products and put more efforts into cost reduction. Also through real-time management which simultaneously and efficiently manages speed and risk, cost reduction, quality management, and safety management must be executed all in real-time to never miss the right timing for execution.``

CEO Chung said to strengthen internal and external networks for communication as well as win-win development programs to settle in as a loved company, going beyond being a great company. He also suggested employee smile campaigns which include the one-minute one-smile campaign, sharing thanks once a day, and carrying out a good deed once a week to become a person sharing smiles and happiness.

The `Daoriseonyeo` choir consisting of wedded immigrant brides from 7 countries performed `Set the Sails` and `Yeongil-man Friend` at the ceremony with hopes for a delightful 2012, and all attendees accompanied by the POSCO Choir and `Daoriseonyeo` finished with the corporate song.

Meanwhile, prior to the year opening ceremony, CEO Chung visited the Dongchon Plaza main cafeteria and served breakfast to employees, and encouraged employees working their hardest in their positions at the Pohang Steelworks Furnace 4 and POSTECH Comtech Hwaseong factory.

Kim Jiyoon

- CEO Chung Joonyang and employees are singing the corporate song at the year opening ceremony held on January 2nd at the Pohang headquarter main conference hall, pledging to start the new year with power.