POSCO Group accelerates resource strategy as global competition shifts

POSCO Group Chairman Chang In-hwa is bringing together the group’s senior executives to map out the next phase of its three-pronged growth strategy, as geopolitical shifts and technological change reshape global competition for resources. The group’s annual POSCO Forum began Thursday and will run for two days in Incheon. The event brings together senior executives to discuss future growth and innovation while hearing from outside experts. This year’s forum will focus on turning the strategy announced in July into concrete action plans. Chang's three-part strategy centers on areas of industrial resources such as steel; strategic resources including lithium, cathode and anode materials and rare earths; and energy resources such as liquefied natural gas and renewable energy. “The ability to execute quickly is the key to survival at a time of major change, as geopolitics and technological paradigms are shifting,” Chang said. “To successfully implement the strategy and expand our businesses around resources, we need to anticipate the direction of change and find clear answers on w