Celebrating Iron Day
KOSA holds marathon race to commemorate 
Iron Day with over 4,300 participants

The Korea Iron and Steel Association (Chairman Lee Ku-taek) hosted a marathon race, an event to celebrate the 6th Iron Day (June 9) with many CEOs of iron and steel companies attending the event, which took place at the Seoul Olympic Main Stadium on May 28.
Attending the half marathon race included KOSA Chairman who also is chairman and CEO of POSCO Lee K.T., Shim Yun-soo, vice chairman of KOSA, Kim Won-kap, vice chairman of Hyundai Hysco, Lee Jong-young, president of SeAh Steel, Shin Sung-jai, president of Hyundai Hysco, Park Jae-chon, chairman of Ko Steel, Chung Il-son, president of BNG Steel, Choo Byung-chul, president of Ko Steel, and Bae Jong-woon, chairman of Korea Steel Daily, among some 4,300 participants including some 2,000 from the steel industry.
The KOSA held the sports event to have the public know the importance of the steel industry in terms of national economy and encourage those who are in the industry to boost their morale following the first such event last year.
The event was made more significant than usual because about 3,000 participants brought their savings cans with them from home to be given to the poor people under the program, ?ove Savings Cans Collection," to make the event heart-warming.
The steel firms provided their cash prizes of one million won for having many of their employees participating in the event, to children with heart diseases. The companies included POSCO, Hyundai INI Steel, and Hyundai Hysco.
KOSA designated June 9 as Iron Day to commemorate the production of molten iron from the nation's first Blast Furnace at POSCO and the day has been commemorated every year since 2000.
In the meantime, the steel inventory index at 118.6 in April, rose 4 points from the previous month, and 37.7 points from the same period last year, continuing its upward trend since May last year.
Steel demand has been steady in such key sectors as automobiles, shipbuilding and machinery, while demand from such sectors as construction and wholesale continue to be sluggish despite their peak seasons for demand. Imports of hot-coil and steel plates have continued to be brisk, but their inventory levels remained high due to sluggish demand.
Steel makers discounted the prices of their steel products to increase sales, but it didn? have the desired effect.
The inventory level of steel plates rose 3.7 percent in April from the previous month about 25,000 tons to bring total inventory to 710,000 tons. The inventory levels of hot-coil, cold-rolled steel, zinc-coated steel and pickled oiled steel sheets, among others, rose due to weak demand and increased imports of foreign steel. nw

At the end of Marathon race held to commemorate the 6th Iron Day. The race was part of a series of events celebrating the 30th anniversary of efforts to raise a competitive edge of the iron & steel industry.

Dignitaries, including Park Tae-joon, honorary chairman of POSCO, MOCIE Vice Minister Cho Hwan-eik, Lee Ku-taek, chairman of the Korea Iron & Steel Association, Lee Woon-hyung, chairman of SeAh Group, KISWIRE Chairman-CEO Hong Young-chul and Pohang University of Science and Technology President Park Chan-mo, on hand at the anniversary reception of Iron & Steel Day.