Yoo Byung-chang took office as the new chief executive officer and publisher of Herald Media in a ceremony at the company’s headquarters in Seoul on Wednesday.

Yoo, 61, former president of POSCO ICT, succeeded Park Haeng-hwan, who retired after three years in the post.

The new CEO vowed to strengthen growth businesses of the future, including digital media and broadcasting.

“The media environment is undergoing a ‘digital shock.’ A new wave represented by general programming and cable news channels is rushing to the local news market,” Yoo said in a speech.

“I will make the most of my experience as former chief executive of an IT firm in creating synergy from online and offline fields.”

Yoo added that he would seek a balanced growth of newspaper and non-newspaper businesses including English and education areas.

The new CEO said that he would pursue emotional management based on communication and exchanges. He promised to keep open every possible window of communication to hear from employees.

He also said that he would foster a corporate culture in which individual and company visions materialize together, the company works for the welfare not only of employees but also of their families and that work and life are well-balanced.

Before taking the helm of Herald Media, Yoo held numerous posts at POSCO after joining the steel company in 1975. He also served as chairman of the Korea Software Industry Association.

The Seoul native earned a bachelor’s degree in business administration from Sogang University.

By Chun Sung-woo (swchun@heraldcorp.com)