POSCO Chief Executive Officer elected World Steel Association chairman

Lahore, October 09, 2013 (PPI-OT): Chairman and CEO of POSCO Joon-Yang Chung has been elected new chairman of the World Steel Association till October 2014 at its 47th annual meeting held in Sao Paulo on Monday.

Chung has played an integral role in the rise of POSCO as the leading company in the steel industry. A true professional, Mr. Chung has applied his dynamic leadership as the catalyst to lead POSCO to great heights when he joined POSCO in 1975.

In the first phase of his career at POSCO, he grew as a technical expert specializing in key steel manufacturing processes and technology by serving at various operational positions at steelworks.

Mr. Chung was elected as Chairman and CEO POSCO in February 2009.With decades of committed service to the company, POSCO is proud of an equally dedicated team of about 17,000 employees, reflecting CEO vision and production of approximately 39 million tons of steel products every year.

Mr. Chung is highly respected in the global and Korean steel industry for his vast and extensive experience. He holds various positions across major steel industry initiatives including Chairman of Korea-Australia Business Council, Chairman of Korea Iron and Steel Association and the Vice Chairman of the World Steel Association.

It is pertinent to note that POSCO is a joint venture partner of Al-Tuwairqi in the project of Tuwairqi Steel Mills in Pakistan, and contemplating to invest further for its backward and forward integration.

It would be not out of place to mention here that phase-1 of TSML Direct Reduced Iron Plant has come into commercial production with a total cost, (including working capital) of $342 million of which, POSCO provided in the shape of equity $16 million.

Director Projects-TSML, Zaigham Adil Rizvi and his team have congratulated Chung and the entire team of POSCO in South Korea on his achievement.

For more information, contact:
Saad Tahir
Public Relations Officer
Tuwairqi Steel Mills Limited
Finance and Trade Centre, 1st Floor, Block-D,
Karachi-74400, Pakistan.
Tel: + 92 21 35651272,
Fax + 9221 35638019
Cell: +92 322 200 4529
E-mail: Saad Tahir

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