Choi Jeong-woo, new CEO of South Korea's leading steelmaker POSCO Co., said Friday that the inter-Korean summit can create new opportunities for the steel industry.
The executive was part of the business delegation that accompanied President Moon Jae-in on his trip to North Korea earlier this week. Choi and other businessmen discussed various inter-Korean economic cooperation projects that can be pursued going forward if conditions are right.
"It will be a big opportunity not only for POSCO but for the steel industry as a whole," Choi said. "I think POSCO will be able to find chances for growth."
The company recently created a new task force to prepare for potential business opportunities in North Korea. POSCO Daewoo, POSCO Engineering & Construction Co. and POSCO Chemtech Co. are participating in the task force.
The steelmaker said it wants to play a key role in railroad and other infrastructure projects in line with the changes in the geopolitical environment in Northeast Asia. (Yonhap)