POSCO Engineering & Construction renames itself POSCO E&C

POSCO Engineering & Construction, the builder affiliate of South Korea's POSCO Group, has changed its name to "POSCO E&C" to mark the first anniversary of the conglomerate's adoption of a holding company system under a “new branding” project.

Industry sources on Wednesday said POSCO E&C, based in Pohang, North Gyeongsang Province, recently applied for provisional registration using the name POSCO E&C with the Pohang branch of the Daegu District Court in the nation's fourth-largest city of Daegu. The procedure is an application filed with the court in advance to reserve a specific business name within the same jurisdiction.

The company will vote on this agenda on March 20 at its general shareholders' meeting.

This year alone, two other group affiliates will change their names, namely POSCO ICT to POSCO DX and POSCO Chemical to POSCO Future M. The renaming reflects the conglomerate's trend of shifting the weight of its business to the eco-friendly and digital fields. The name "POSCO E&C" also conveys the meanings of "eco" and "challenge."

In a first by a domestic builder, POSCO E&C in 2021 declared carbon neutrality by 2050 and has since aggressively pursued new growth sectors such as hydrogen, offshore wind power and eco-friendly architecture.

POSCO A&C (construction services) and POSCO O&M (comprehensive asset management), both of which are in the group's engineering and construction division, also could adopt new names.

Starting with the first anniversary of POSCO Holdings Inc.' launch on March 2, major group affiliates are seen hard at work on brand building. They have boosted the size of their public relations organizations and boosted new media activity such as on YouTube.

Write to Seo-Woo Jang at suwu@hankyung.com