Song Chi-young (C), new CEO of POSCO E&C, answers questions from Democratic Party officials during his visit to an expressway construction site in Gwangmyeong, about 20 kilometers south of Seoul, on Aug. 6, 2025. A Myanmar national in his 30s was critically injured and lost consciousness in a suspected electrocution accident at the site two days earlier. (Image courtesy of Yonhap)
SEOUL, Aug. 6 (Korea Bizwire) — POSCO E&C, the construction arm of South Korea’s leading steelmaker POSCO Group, said Wednesday it has begun an emergency management system and temporarily suspended new orders in its infrastructure business following a series of fatal industrial accidents at company-managed construction sites.
In a statement, the company said any business expansion would be meaningless without restoring public trust first.
The announcement came a day after a Myanmar national in his 30s was critically injured and lost consciousness in a suspected electrocution accident at an expressway construction site in Gwangmyeong, about 20 kilometers south of Seoul.
It marked the fourth fatal accident this year at POSCO E&C-operated sites and prompted the resignation of former CEO Jeong Hee-min on Tuesday.
The company also said it plans to gather expert opinions to develop institutional measures aimed at reforming its subcontracting structure — a long-standing issue in the construction industry.
On Wednesday, the firm’s new CEO, Song Chi-young, visited the Gwangmyeong construction site where the latest accident occurred, in his first public appearance since assuming the post Tuesday. He did not hold a separate inauguration ceremony.
During the visit, Song inspected the site’s safety management system and pledged to prevent further accidents.
“With a deep sense of responsibility, we will fundamentally overhaul our company-wide safety management system to eliminate accidents at their root, and establish an effective, field-oriented safety culture,” he said.
(Yonhap)
