Tae-joon Park(1927~2011)

Portrait of Tae-joon Park A great Leader in the global steelmaking industry, called the Korean Andrew Carnegie

The late Chairman Tae-joon Park was born in Yangsan, Gyeongsangnam-do, Republic of Korea, in 1927. After graduating from the Korea Military Academy, he was assigned by President Chung-hee Park to establish a comprehensive steelmaking company, and became the CEO of Pohang Iron & Steel Co. (current POSCO) in 1968. Establishing the integrated steel mill in Korea, which had no capital, experience, or technology, the late chairman led the industrialization of the country. With the motto, “Dedicate my short life to the eternal homeland,” in just 25 years, he made POSCO the world’s third leading steel manufacturer with an annual production volume of 21 million tons.

Making such great accomplishments, the late Chairman Park was viewed as ‘a steel magnate beyond Andrew Carnegie,’ and was praised by the global steelmaking industry as a miracle-maker. He received honorary doctorates from 4 prestigious universities abroad, as well as 7 medals at home and 10 medals abroad. In particular, he was awarded the Bessemer Gold Medal, which is called the Nobel Prize of the steel industry, in 1987, and the Willy Korf/Ken Iverson Steel Vision Award, also a prestigious award in the industry, in 1992.

While establishing the steel mills, the late Chairman Park also contributed to education, launching the POSCO Scholarship Foundation in 1971 to lay the ground for scholarship programs for the employees' children. Later, he established 14 schools from kindergartens to high schools to nurture talents. In 1987, he also established Pohang University of Science and Technology (POSTECH), the first research-centered university in Korea, and developed it into a world renowned university, fulfilling his words of contributing to the nation’s development in education.

In 2005, the POSCO Scholarship Foundation was reorganized into the POSCO TJ Park Foundation in commemoration of the late chairman Tae-joon Park. From 2008, the late Chairman Park served as the chairman of the foundation to carry out the programs for scholarships, academic support, and cultural support, mainly focusing on Korea and the Asian countries.
The late Chairman Park was not only a businessman who solidified the nation's economy, but also a politician who was a member of the National Assembly for 4 terms and served as prime minister. On December 13, 2011, Chairman Park passed away at the age of 85. He is buried at the Seoul National Cemetery.

Profile

1927
Born in Yangsan, Gyeongsangnam-do
1948

Entered the Korea Military Academy

1968
CEO of Pohang Iron & Steel Co. (current POSCO)
1973
Completed the construction of first Pohang steel mill (producing 1.03 million tons per year)
1981
CEO of POSCO, member of the National Assembly (11th, 13~15th)
1986
Established POSTECH
1987
Received the Bessemer Gold Medal (considered Nobel Prize of steel industry)
1992
Completed the construction of fourth Gwangyang steel mill (producing 21 million tons per year)
2000
Took office as prime minister
2008
Served as chairman of POSCO TJ Park Foundation

Websites related to Tae-joon Park

25 years of Service the POSCO museum Tae-Joon Park Institute