POSCO feared to face political intervention under Yoon administration
來源：開云體育app官方網站發布日期：2023-01-28 21:44:18 瀏覽：3715
 |
| One of Yoon Suk-yeol's supporters raises a placard reading "POSCO to Pohang," during an election campaign event in Pohang, North Gyeongsang Province, Feb. 27. Korea Times photo by Oh Dae-keun |
By Park Jae-hyuk
Concerns are growing about the possibility of POSCO facing political intervention under the incoming Yoon Suk-yeol administration, after the head of a lobby group representing small and medium-sized enterprises (SMEs) told the President-elect earlier this week that the steelmaker's frequent price hikes have been weighing on local SMEs.
"Following the sharp rise in raw material prices, Samsung has bought products from SMEs at higher prices, but other conglomerates have not done the same, dissatisfying SMEs," Korea Federation of SMEs Chairman Kim Ki-mun said at Yoon's luncheon meeting with the nation's six largest business lobby groups, Monday. "In the case of POSCO, it raised its product prices five times last year and posted record earnings. We think such an unreasonable system should be reformed."
Prior to his meeting with Yoon, the chairman had criticized POSCO for its pricing in an interview with a local news outlet and at a press conference last month.
Steel industry insiders, however, viewed his criticism at POSCO as groundless, saying the skyrocketing global price of iron ore has forced the steelmaker to raise its product prices.
"The criticism should be leveled at conglomerates that have tried to buy products from SMEs for lower prices," an industry official said.
POSCO declined to comment on this issue.
 |
| POSCO Group Chairman Choi Jeong-woo speaks during the general meeting of POSCO Holdings shareholders at POSCO Center in Seoul, March 18. Courtesy of POSCO Group |
If Kim's remarks prompt Yoon to take a negative sentiment toward POSCO, the likelihood of the new government intervening in the steelmaker's management will be increased, according to industry officials.
When Yoon was running for president, he was among the leading candidates who criticized POSCO Group for its plan to set up a holding company in Seoul by spinning off a subsidiary in charge of its main steelmaking business.
"I oppose POSCO's retrogressive plan to set up its holding company in Seoul," he said on Jan. 27, when he met North Gyeongsang Province Governor Lee Cheol-woo, Pohang Mayor Lee Kang-deok and other politicians from the southeastern port city, who asked Yoon to stand against the company's plan.
POSCO eventually accepted the request from Pohang residents and politicians last month, promising to relocate its holding company to the city from Seoul by March 2023.
At that time, there was criticism that it was unreasonable for politicians to meddle in the management of a private enterprise.
POSCO was founded as a state-run enterprise in 1968, and privatized in 2000.
However, the government has continued to exercise influence over the company through the National Pension Service, its largest shareholder.
分享：