posco AMERICA

-Conference aims to promote efficient corporate structures

POSCO hosted the Synergy Conference at the POSCO-America headquarters in New Jersey on Aug. 10.

The event was meant to form a common ground for the steelmaker`s North and South American subsidiaries, upon which they will seek to further their growth by creating synergy for themselves.

Under the theme of `OPEN America 2010,` the event featured more than 30 POSCO -- and its research arm POSRI -- employees, including Senior Vice President Kang Chang-gyun and heads of the company`s eight North and South American units.

OPEN stands for Optimal Portfolio and Efficient Network.

During the event, POSCO`s Invest Strategy Group announced the company`s growth strategies for the participating units, while POSRI provided them with new developmental guidelines, based on its survey and analysis of hardships, problems and unique situations each are faced with. POSCO-America announced its roles to bring synergies to subsidiaries.

After that, participants were divided according to their work -- production, marketing, management strategy and more -- and engaged in a round of heartfelt discussion in search of the best synergy strategies for all of them. The discussion was followed by a wrap-up meeting, through which they reaffirmed the need to bring synergy to life themselves.

The participants were especially interested in establishing sustainable synergy among them and making it work as a catalyst to maximize each of their outcomes. ``As far as the management of POSCO is concerned, the biggest talking point now is `creating synergy,` for which all of us have to work hard enough to make the `one plus one equal three` rule possible,`` Senior Vice President Kang said. ``Please feel free to tell me now if there`s anything the POSCO headquarters can do to make it happen,`` he continued.

In May, POSCO hosted the Synergy Conference in China. Latter in this year, the company will do it once more for its Southeast Asian subsidiaries, which is expected to maximize synergy among the POSCO families of the region.

junykim@posco.com

*POSCO hosts the Synergy Conference at the POSCO-America headquarters in New Jersey on Aug. 10.