SASAC Chairman Mr. Li Rongrong Met with Mr. Chung Joon-yang, New Chairman and CEO of POSCO

On May 13, SASAC Chairman M. Li Rongrong met with Mr. Chung Joon-yang, new Chairman and CEO of POSCO. Mr. Li Rongrong introduced the current Chinese economy, especially the situation of iron and steel industry. He said that, to tackle the financial crisis, enterprises should enhance their reform, and respond rapidly to the market. Mr. Chung Joon-yang extended his gratitude to SASAC for its support over the years. He briefed on the impact of financial crisis on Korea, and presented suggestions on further enhancing the cooperation in the iron and steel industry between the two countries.