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| Home > Communions > Contents | | | POSCO: Resolutions for a New Beginning | | | Time:2007-1-17 10:20:02 Source:communions Author:Maggie | [Size:B M S][Favorite][Close] | |
The New Year`s Greetings for the Steel Industry was held on January 8 at the Renaissance Hotel in Yeoksam-dong, Seoul with about 200 guests, including Vice Minister Jong Gap Kim of the Ministry of Commerce, Industry, and Energy, Chairman Ku-Taek Lee of the Korea Iron and Steel Association, and former Chairmen Kyung Ro Hwang, Myung Sik Jung, and Sang Boo Yoo of the Korea Iron and Steel Association.
At the ceremony, Chairman Ku-Taek Lee forecasted a slowdown in steel industries of advanced countries and in China`s excess supply. Chairman Lee said that The steel industry must cooperate with the government. He explained - the possible integration of Arcelor-Mittal, - the Chinese Government`s integration of the steel industry, and - Japanese steelmakers` bold restructuring for cost-efficiency and quantitative growth through global networking to support his argument.
Chairman Lee also stated that the U.S. and the EU are considering trade restrictions on imported steels from China and that Korea might need to protect its market from the more than 10 million tons of steel imports from China.
In particular, Chairman Lee announced that the Governor of Jiangsu Province, China asked POSCO to make Jangjiagang-Pohang a Nockmyo (Green Cat, the Chinese term for environmentally-friendly companies) when POSCO completes the STS Integrated Plant in China and stressed that Korea must establish measures to respond to the Chinese Government`s integration of the steel industry.
Above all, every participant strongly agreed with CEO Lee`s argument that We must promote innovative production for cost-efficiency and value-added strategy and the government must continue to support R&D on domestic market expansion and innovative material development as essential solutions.
He also said, It is time we gather wisdom and mediation for survival and sustainable growth as the rules of the game in the world`s steel industry are changing. He added that It is important to enhance productivity through stable labor-management relations and to strengthen corporate constituents by upgrading the way we work.
At the New Year`s ceremony, many dignitaries in the steel industry shared wishes and prayers and resolved to achieve their goals in steelmaking. Former Chairman Kyung Ro Hwang said, Let`s achieve our business goals and gather here again with thankful minds next year. Former Minister Hee Bum Lee of the Ministry of Commerce, Industry, and Energy said, I truly hope that the steel industry can lead Korea to the age of 500 billion dollars in exports.
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