Posco Holdings to relocate headquarters from Gangnam to Pohang

Posco Holdings' headquarters in southern Seoul [YONHAP/REUTERS]

Posco Holdings will relocate its headquarters from the current Gangnam site in southern Seoul to Pohang, North Gyeongsang.

The relocation was approved in the general shareholder meeting held at Posco Center building in Gangnam, Friday, after the company promised to move its headquarters back to Pohang in February last year.

Posco Holdings was established last year as the holdings company owning Posco, the formerly-listed steelmaker. Posco subsidiaries, like Posco International and Posco E&C, became subsidiaries of the holding company.

Posco Holdings’ original plan was to place its headquarters in Seoul, but this was met with strong opposition from politicians and civic groups in Pohang, where the steelmaker is headquartered.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]