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Posco E&C headquarters in Songdo, Incheon. / Courtesy of Posco E&C

Posco E&C issued an official apology on July 29 following a fatal accident at its construction site on the Hamyang-Changnyeong Expressway in South Gyeongsang Province. This marks the second apology from CEO Jung Hee-min this year, following the tunnel collapse on the Shinansan Line in April.

President Lee Jae-myung strongly rebuked the company during a Cabinet meeting earlier in the day, calling the incident "a death caused by conditional intent."

In his statement, Jung said, "We extend our deepest condolences to the deceased who tragically lost their life in the accident on July 28 and sincerely apologize to the bereaved family."

He added, "Following the serious industrial accident at our site in April, it is devastating and deeply shameful that another fatal accident has occurred. We accept full responsibility."

Posco E&C pledged full cooperation with authorities in determining the exact cause of the incident and promised comprehensive support for the victim’s family. The company also announced that all construction work at its sites has been immediately halted and will only resume after thorough emergency safety inspections are completed.

"We will overhaul our safety systems with unwavering determination and treat this as a matter of the company’s survival to ensure such a tragedy never happens again," the statement read.