Steel Industry Holds New Year Reception

Industry leaders swear to do best to meet steel export target of $28 bln this year

Korea Iron and Steel Association held a New Year's reception at POSCO Center in southern Seoul with the attendance of government officials led by Vice Minister Lim of the Ministry of Knowledge Economy and leaders in the steel industry including Chairman Lee Ku-taek of POSCO and also chairman of the association. Before the reception, the nine-man steel industry presidents' group met with MKE Minister Lee to exchange opinions on ways to make a breakthrough in the current economic downturn sweeping the world by the steel industry.
Minister Lee said at the brief meeting that the steel industry, which has been a locomotive for the national economic advancement should find a new way to make its necessary moves to uplift the national economy again. Exports again should be the means to spear head the economic resurgence taking advantage of weakened won's value, and economic growth boosting measures in major importing countries of Korean steel products and also help stabilize the foreign exchange market in the country by earning large amounts of foreign exchange.
The minister also asked the industry help to maintain the business ecological conditions by cooperating with SMEs, along with government support.
Steel industry leaders present at the event led by POSCO Chairman Lee swore to do every thing in their power to meet $28 billion in exports of steel products this year, although the economic situation is very tough for them.
They agreed to produce steel products that really suit overseas demand to create demands; they also agreed to exploit niche markets in southeast Asia and China; and each member company of the association will try to expand operations overseas by setting up export bases in major steel importer countries to stabilize their export operations.
Major figures attending the event included Chairman Lee Hee-beom of the Korea International Trade Association; Vice Chairman Park Seung-ha of Hyundai Steel; Chairman Chang Sei-ju of Dongkuk Iron and Steel; President Lee Soo-il of Dongbu Steel; Chairman Lee Woon-hyung of SeAH Steel: Chairman Hong Soon-chol of Union Steel; Vice Chairman Kim Won-kap of Hyundai Hysco: among others.
KOSA carries out various activities for its member steel makers including finding out obstacles that member companies are facing and reflect them on policies, host meetings and seminars by areas, enhance function-business based councils, expand e-Biz an streamline logistics, and create new demand for high-quality steel products and support technology development.
The association also conducts survey and research for the steel industry. It forecasts short-term demand and research domestic and overseas markets, provide research information on the steel industry in and out of Korea, analyze the business performance of the steel industry The association also is to cooperate respond to change in the world steel industry by expanding support for exporting steel, provide support in dealing with trade obstacles, promote cooperation with major world business partners.
KOSA is also to take charge of various activities to improve competitiveness and support environmentally friendly activities. It should set up countermeasures to the climate change agreement, fine new ways to recycle process by products, host meetings to exchange technology, and provide information on production capability, facility investment and energy. The association is responsible for diversifying the services of the human resource system. It should operate the HR Development Council through industry-university-research center cooperation. It should also operate the Steel Industry Education Center. It is obligated to training programs for each business area.
KOSA is also responsible for hosting the Steel Day activities including ceremony and marathon events. It should also host the annual party for the steel industry. It should also host the labor-management workshop, and issue the steel bulletin and other publications. nw

CEOs of member steel makers of the steel industry are pictured here at Korea Iron and Steel Industry Association's New Year reception Jan. 12 at POSCO Center in southern Seoul. Chairman Lee Ku-taek, 5th L, of the association who will step down as chairman of POSCO. Vice Minister Lim Chae-min of the Ministry of Knowledge Economy, 4th R. Chairman Lee Hee-beom of the Korea International Trade Association, 3rd R. CEOs included Chairman Lee Woon-hyung of SeAH Steel, 3rd L,, Chairman Chang Sae-joo of Dongkuk Steel,2nd R, President Lee Soo-il of Dongbu Steel, 1st R, and Vice Chairman Park Seung-ha of Hyundai Steel,4th L,among others.