(Corrects spelling of "Kwon" in headline)
SEOUL Jan 16 South Korean steelmaker POSCO
has recommended Kwon Oh-joon, president and its
chief technology officer, as new chief executive to succeed
Chung Joon-yang who had offered to resign in November, the
company said on Thursday.
The firm held a board meeting on Thursday to approve the
recommendation by POSCO's CEO nomination committee, which
short-listed candidates to five a day earlier.
Kwon's appointment is subject to shareholder approval in
Chung's departure comes after months of media speculation
that he may come under pressure to quit because a new government
led by President Park Geun-hye took office in February.
POSCO and telecoms firm KT Corp have often seen
CEOs quit before their terms expire when a new government takes
office, because the companies were once state-owned and the
government retains a large amount of influence over their
(Reporting by Miyoung Kim; Editing by Christopher Cushing)