posco AMERICA

POSCO-America President Yoo Jong-wan is said to have played a pivotal role in the recent ratification of the Korea-U.S. free trade agreement (FTA) by the U.S. Congress.

According to POSCO-America, Yoo, who also chairs KOCHAM (Korean Chamber of Commerce and Industry in the United States, Inc.), a New York-based non-profit organization representing more than 300 Korean businesses, met with 18 U.S. senators and representatives in Washington on Oct. 4 and Oct. 5, accompanying a group of U.S.-based Korean business representatives.

With the U.S.-Korea free trade bills having been submitted to the Congress by U.S. President Barack Obama on Oct. 3, Yoo and the senior KOCHAM members asked for their support on the bills` ratification. Taking up the post of KOCHAM chairman in May, he has been mediating trade and financial issues between the two countries. Working on behalf of U.S.-based Korean companies, he has also done his part to help the trade bills signed in 2007 pass in the U.S. Congress - meeting with key political figures, sending out petitions and hosting seminars.

- Senator Roger Wicker of Mississippi and KOCHAM representatives including Chairman Yoo Jong-wan (right of the senator) pose after a meeting in Washington D.C.

sails@posco.com