Former PM and POSCO Founder Dies at 84

  • Arirang News

    December 14, 2011 12:17

    Park Tae-joon /Courtesy of POSCO

    Park Tae-joon, a former prime minister and founder of the country's leading steelmaker POSCO, has died aged 84.

    Park, who fostered the Pohang-based company as chief executive officer from the late 1960s to early 1990s, died from complications following lung surgery last month.

    After serving in the military for 15 years until 1961, he was appointed by former president Park Chung-hee to head the steel manufacturer in 1968.

    The steel mogul entered politics in 1981 and became prime minister in 2000, but his term was cut short by a tax scandal.

    Park will be laid to rest at the Seoul National Cemetery. He is survived by his wife and five children.

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