Korea Joongang Daily reported that Mr Chung Myung-sik, former chairman of steelmaker Posco, died at age 90. The third chairman in the steel company’s 52-year history, Mr Chung is credited with leading the construction of Posco production facilities in South Korea. Mr Chung was serving as chief executive of the state owned Korea Engineering Consultants when he was called in to work for the steelmaker by company founder Mr Park Tae-jun in 1970. For the next 20 years, Mr Chung managed the construction of the company’s production sites in Pohang and Gwangyang. After working as the company’s president and vice chairman, Mr Chung was appointed chairman in 1993. That same year, he also took the position of chairman at the Korean Iron & Steel Association. Between 1976 and 1990, he received three Orders of Industrial Service Merit in bronze, silver and gold. In 1995, Chung also served as chairman of Pohang University of Science and Technology.
Born in Seoul in 1931, Mr Chung graduated from Seoul National University in 1955 with a bachelor’s degree in civil engineering. Four years later, he received a master’s degree in civil engineering from the University of Minnesota Twin Cities.