June 23, 2018 / 8:03 AM / in 4 months

South Korean steelmaker POSCO names head of Posco Chemtech as candidate for next leader

SEOUL (Reuters) - South Korean steelmaker POSCO on Saturday selected Choi Jeong-woo, the head of affiliate Posco ChemTech, as its final candidate to lead the company.

FILE PHOTO: The logo of POSCO is seen at the company's headquarters in Seoul, South Korea, July 20, 2016. REUTERS/Kim Hong-Ji/File Photo

Choi still needed to win approval at an extraordinary shareholders’ meeting on July 27, the company said.

In April, the company said Kwon Oh-jun was stepping down from the chief executive position.

POSCO was privatised in 2000, but chief executives have previously been replaced when a new administration takes office, local media reported.

Reporting by Cynthia Kim; Editing by Stephen Coates

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