Posco Chairman Choi Jung-woo on Thursday stressed the importance of forging business partnership in nonsteel sectors for the advancement of technology and sustainable future.

Highlighting recent changes in the business landscape amid a slowing economy, Choi also said the steelmaker’s plan to expand its role in community is a way of defining its corporate identity. 

“Business environment has been deteriorating more than ever with the nation’s slowing economy showing no sign of a change,” he said while wrapping up a three-day annual forum held at its research and development center in Songdo, Incheon. “We have to pay attention to secure new business opportunity by forging cooperation with (suppliers of) other materials and to strategically respond to such change.”

In the annual forum, Posco executives and employees discussed the future of material business in line with transformation in mobility, the company said.

Choi took the chairman post last year, stressing on Posco’s community role beyond pursuing profit.

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