Minister of Trade, Industry and Energy Yoon Sang-jick poses with leaders of the Korean steel industry at a New 

Year’s gathering at the POSCO Center in Samseong-dong, Seoul, on Jan. 8. The participants included POSCO 

Chairman-KOSA Chairman Chung Joon-yang; Hyundai Steel Vice Chairman Park Seung-ha; Dongkuk Steel 

Chairman Chang Sae-joo; Dongbu Steel Vice Chairman Lee Jong-keun; SeAh Steel Chairman Lee Soon-hyung; 

TCC Steel Corp. Chairman Sohn Bong-rok; KOSA Vice Chairman Oh Il-hwan; and Kim Yong-min, president of 

Pohang University of Science and Technology. (photos: MOTIE)

The Korea Iron & Steel Association (KOSA) held a New Year’s gathering at the POSCO Center in Samseong-dong, Seoul, on Jan. 8 and pledged to turn the current crisis into opportunities for making a leap forward.

Among those on hand at the event were Minister of Trade, Industry and Energy Yoon Sang-jick; POSCO Chairman-KOSA Chairman Chung Joon-yang; Hyundai Steel Vice Chairman Park Seung-ha; Dongkuk Steel Chairman Chang Sae-joo; Dongbu Steel Vice Chairman Lee Jong-keun; SeAh Steel Chairman Lee Soon-hyung; TCC Steel Corp. Chairman Sohn Bong-rok; KOSA Vice Chairman Oh Il-hwan; Kim Yong-min, president of Pohang University of Science and Technology,; and Dir. Gen. Choi Tae-hyun in charge of materials and component industries at the Ministry of Trade, Industry and Energy.

KOSA Chairman Chung said in his speech at the event, “The steel industry will see high uncertainty in the supply-demand balance due to a continued steel glut this year, and those in the industry will make concerted efforts to make this year a year for making a leap forward again by overcoming external and internal crises, such as macroeconomic and structural risks.”

MOTIE Minister Yoon delivers his speech at the gathering.

Chung urged KOSA member companies to ramp up their global networking to cope with trade conflicts with foreign countries in a wise fashion.

MOTIE Minister Yoon in his speech disclosed the top-three tasks the Korean steel industry will implement during this year: developing steel materials being supplied to global super companies; building a sound industrial ecosystem through collaboration among industries; and conducting KOSA’s mandate by correcting abnormal practices.