Kudos for POSCO Chairman

Chairman Lee wins AC Order of Australia medal for contribution to Korea-Australia relations

Love Steel and Iron Marathon Race'on the occasion of the 7th Iron Day (June 9) took place on May 21 with the participation of CEOs of steel companies, the families and general citizens around 4,600 altogether at the Citizens Park along the Han River in Seoul. Among the CEOs were POSCO Chairman & CEO Lee Ku-taek at the event with the slogan of "Body and Iron Not Two."The annual event, which began in 2004, is significant in that its purpose is to let the country be aware of the importance of iron and steel in their daily lives and for unity of steel industry people and their encouragement. Also among the CEOs were those of Seah Steel, Hyundai Steel, Dongguk Steel, KISWIRE and POSCO to name a few major steel producers in the country.
Participants in the race included the young, old, and blond-haired foreigners, who ran hard for their physical as well as spiritual health. A side event that drew a lot of attention was "Collection of Love Rice,"to be provided to children with heart diseases.
Also drawing the attention were various booths set up along the river bank including those for acupuncture, sport massage, magic balloons for kids, and face painting, among others.
The Korea Iron and Steel Association designated June 9 as Iron Day to commemorate the first launch of a blast furnace steel mill in Korea and has been holding a variety of events on the day every year including a marathon race and a photo exhibition.
In the meantime, Chairman Lee attended the Korea-Australia Economic Cooperation Committee meeting in Perth, Australia, on May 26. The committee whose members comprise businessmen from both countries since its establishment in 1979 has been instrumental in providing support to the expansion of trade in the areas of energy and resources between the two countries.
The POSCO CEO has been chairman of the committee since 2002. He called on Prime Minister John Howard in Canberra and other high-ranking government officials.
He received the Honorary Companion of the Order of Australia, the highest medal ever awarded to a civilian in recognition of contribution to society and humanity. Chairman Lee returned home on May 31 after a stop in Sydney to meet with Charles Goodyear, the CEO of BHP Billiton and discuss business between POSCO and the Australian mineral giant.
In the meantime, the POSCO CEO participated in the Small/Medium Company Coexistence and Cooperation Conference at Cheong Wa Dae on May 24 presided over by President Roh Moo-hyun and introduced POSCO's coexistence accomplishments from last year and plans for this year.
In the conference, Prime Minister Han Myeong-sook leading a number of cabinet ministers including Commerce, Industry and Energy Minister Chung Sye-kyun, and heads of small and medium and large conglomerates including Samsung Group Chairman Lee Kun-hee and leaders of business organizations including Chairman Kang Shin-ho of the Federation of Korean Industries and Chairman Kim Yeong-gu of Korea Small & Medium Industries Management Association, participated in the event.
The participants analyzed POSCO's and other large companies'coexistence and cooperation activities, presented exemplary models, and discussed management paradigms for sustainable development. Large companies'supports to capacity development, trust relationships through fair trading and value sharing, and creative industrial ecologists were presented as long-term coexistence and cooperation measures.
The POSCO chairman explained that POSCO built a foundation for its coexistence and cooperation with small/medium companies through performance sharing and financial support last year and is planning to focus on technical support and training for the competitiveness of small/medium firms this year. nw

Chairman & CEO of POSCO Lee Ku-taek, right, shakes hands with President Roh Moo-hyun at Cheong Wa Dae, the presidential office, at a business leaders meeting held there May 24.

POSCO Chairman Lee shakes hands with Governor-General of Australia Sir Michael Jeffrey after receiving the Honorary Companion of the Order of Australia in Canberra, Australia, on May 27.

POSCO Chairman Lee lights the third blast furnace newly built at POSCO Steel Complex in Pohang.