Japan and South Korea Electric Furnaces Start Exchange in Spring 2007

Japanese and South Korean electric furnace steel makers will start the exchange in spring 2007. Kenji Inokuma, chairman of Japan Non-Integrated Steel Producers’ Association and president of Godo Steel, held talks with Lee Yong-Do, chairman of South Korean Non-Integrated Steel Producers’ Association and vice-chairman of Hyundai Steel, at the head office of Hyundai Steel in Seoul on December 7. On Japanese side, Yuji Nishimura, managing director of Godo Steel, and Yasushi Kimura, secretary-general of Japanese association, were present at the talks. On South Korean side, Park Sun-Ha, president of Hyundai Steel, and Chon Hyong-Soo, secretary-general of South Korean association and director of Hyundai Steel, were present. They decided to hold the first conference between Japanese and South Korean electric furnace steel makers in April-June 2007.

South Korean association asked Japanese association to hold an exchange meeting in September 2006. At the talks on December 7, they decided to have exchange conferences between Japanese and South Korean electric furnace steel makers every year in both countries alternately. Mr. Inokuma evaluated the conference is important and meaningful for both countries. They exchanged their analysis on both country steel markets. South Korean side refereed to the increase of steel products import from China to South Korea.

The first conference in next spring will be on labor safety problems. After the second meeting they plan to talk about technology, environment, raw material and energy themes. The exchange could contribute to level up of each makers and more stability of Asian steel market among Japanese 35 electric furnace steels and South Korean 6 electric furnace steels which belong to the Associations.