April 19, 2024

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[THE INVESTOR] POSCO chief Kwon Oh-joon promised three top-level posts in the company to President Park Guen-hye’s confidante Choi Soon-sil, a local daily reported on Jan. 25. 

According to Hankook Ilbo, the independent counsel investigating the presidential scandal has secured testimony that Kwon and Choi had made the agreement in 2014. 

The report said that a close associate of Choi testified that Kwon promised to appoint individuals recommended by her as CEOs of three POSCO subsidiaries. 

The paper also said that the investigators are now trying to determine whether bribery charges can be applied to the alleged arrangement between Kwon and Choi. 

However, Kwon is said to have selected only two associates of Choi to lead POSCO subsidiaries, prompting her to pressure him through the presidential office. 

The two alleged associates of Choi who headed POSCO subsidiaries are Kim Young-soo, who was chosen to head former POSCO subsidiary POREKA, and the chief of eNtoB.
 
By Choi He-suk (cheesuk@heraldcorp.com)