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4mo ago

POSCO E&C Launches Emergency Overhaul as Government Weighs License Revocation

The new chief suspended incoming infrastructure orders under an emergency management system following a fourth fatal accident this year

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President Lee Jae Myung speaks during the sixth meeting with his senior secretaries since his taking office at the presidential office in Seoul on July 31, 2025. (Pool photo) (Yonhap)
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. (Yonhap)
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Overview

  • Song Chi-young, appointed CEO on August 5, activated an emergency management system and paused new infrastructure orders at POSCO E&C.
  • Song visited the Gwangmyeong expressway site where a Myanmar worker suffered a suspected electrocution that became the fourth fatal accident this year.
  • President Lee Jae Myung ordered a full legal review of measures against POSCO E&C, including revoking its construction license and barring it from public bidding.
  • POSCO Group earlier launched a company-wide special safety task force to review protocols across its steel, energy materials and infrastructure divisions.
  • Heightened scrutiny underscores concerns over systemic safety lapses under Korea’s Serious Accidents Punishment Act and persistent subcontracting risks.