OREANDA-NEWS. March 27, 2014. All POSCO executives, including Chairman Oh-joon Kwon decided to return part of their wages.

``Considering our company`s current situation, I will return 30% of my basic pay until we achieve the desired outcome and profitability,`` said Chairman Kwon at the directors` meeting.

``We will set up our new vision as POSCO the Great, referring to POSCO that is respected and loved by the public,`` said Chair Kwon, indicating his intention to voluntarily return part of his wage. ``It`s about creating more enterprise value by putting quality above quantity, and profits above sales; thus, executives must take the initiative in generating profits.``

``I would encourage all other executives to also participate voluntarily in returning wages to show our intention to achieve POSCO the Great and overcome the company`s tough management conditions in the early stages?`` suggested Vice President Dong-joon Yoon. The opinions of all the executives were collected by afternoon of that day.

The total count in the evening showed that all executives decided to participate in the voluntary pay return campaign, and the amount varied by individuals from 10% to 25%.