Park Tae-joon, the honorary chairman of POSCO, is called the person responsible for South Korea's steel industry’s history. Born in 1927 in Dongnae, Gyeongsangnam-do, Park Tae-joon went to Japan to study when he turned 19 in 1945. After South Korea’s liberation, he returned to South Korea immediately, and in 1948, he was admitted to the Military Academy. After graduating from school, he was appointed to serve two consecutive terms as head of the ministry's human resources division. Then, in 1961, he was appointed as the chief of staff of the Supreme Council for National Reconstruction by Park Chung-hee and served as a supreme council member in the economic sector.

Park Tae-joon is very famous for being a principled man. He has a famous anecdote. When soldiers at a private restaurant stopped eating kimchi, he called an officer in charge of the army's supply to order the red pepper powder to be released into the water. Faded white sawdust was found when an officer unpacked the red pepper powder in the water, and the angry Park Tae-joon severely scolded him. In the end, Park Tae-joon found a reliable supplier in person and worked out the case. Park also suffered from a sad experience due to his principled character. He heard that his first child was very ill, but at that time, curfews were set. So, he had to call the army's cars to go to the hospital. However, he waited until the curfew ended, saying he could not call the unit's car on a private matter, and his first child died.

Park Tae-joon is also famous for being a businessman. In 1965, President Park Chung-hee sought financial aid from various countries, strengthening his commitment to building steel mills. However, all countries denied the financial aid, and Park Tae-joon telephoned President Park Chung-hee to suggest using the remaining $100 million in claims against Japan. Back then, Park Tae-joon tried to persuade many people because the right to claim against Japan was a fund to be used to support farming and fisheries. After all, Park Tae-joon, who secured funds to use to build steel mills, started building steel mills in earnest in 1970.

Park Tae-joon left a famous saying at this time. He said that as if we fail, we will be guilty of indelible crimes before the history and the people. We should all face right then and throw ourselves in Yeongil Bay. This is a good example of showing his guilty feelings that POSCO owed the nation’s money because it was established as a reward for Japan's colonial rule. Moreover, these words still remain POSCO's spirit of the challenge.

Pohang's steel mill was a space with greater significance than anyone else to POSCO's honorary chairman Park Tae-joon, and the iron produced here served to pave the way for the history of South Korea's economic development. The steel story, which was achieved with groundbreaking ideas, relentless spirit of challenge and transparent management, was praised by a renowned investor Warren Buffett. Park Tae-joon was also interested in various social contributions and scholarship projects, so he built the Posco Cheongam Foundation after his personal name, Cheongam, and established many educational institutions, such as Pohang University of Science and Technology and Pohang Iron and Steel Technical High School.

Park Tae-joon, the honorary chairman of POSCO, left such a legacy that impressed many people with his spirit of challenge and principle. Also, without such a responsible and articulate entrepreneur, our economy would not have grown so much.