Steel giant Posco has hired former the CEO of Daelim Industrial to seek the company’s future growth, it said Thursday in a statement.


 

Oh Gyu-seok, former president of the local builder, will take charge of the newly established future growth division assigned to pave the way for the 50-year-old steelmaker struggling to find alternatives amid declining market demand for metal. Oh is the first outsider to take the top-level executive position at Posco. Along with Oh, Posco named Park Seong-jin, a mechanical engineering professor at Postech, to lead an industry-academia-institute committee aimed at nurturing budding enterprises and create more jobs.

It plans to hire an executive who specializes in trade in January to fend off concerns over rising protectionist moves from the US and China.

By Cho Chung-un (christory@heraldcorp.com)