POSCO

POSCO is an integrated steel producer in Korea. The Company produced approximately 32.8 million tons of crude steel, during the year ended December 31, 2007 (including 2.5 million tons of stainless steel), a substantial portion, of which was produced at Pohang Works and Gwangyang Works. Pohang Works has 15 million tons of annual crude steel and stainless steel production capacity, and Gwangyang Works has an annual crude steel production capacity of 18 million tons.