OREANDA-NEWS.  October 16, 2014. CEO Kwon Oh-joon attended the World Steel Association`s (`worldsteel`) execution committee, board of directors meeting and conference held in Moscow, Russia for 3 days, and joined fellow global steel company CEOs to exchange perspectives and insight on the steel industry and company plans going forward.

At the execution committee presided by worldsteel Chairman and POSCO Standing Advisor Chung Joonyang on October 5th, major steel company CEOs including worldsteel Vice Chairman and Severstal CEO Alexey Mordashov, Austria`s voestalpine CEO Wolfgang Eder, as well as Baosteel Chairman Xu Lejiang, Anshan Iron & Steel Group Chairman Zhang Xiaogang, ArcelorMittal Chairman Lakshmi Mittal, Nucor CEO Ferriola, JFE Steel President Eiji Hayashida, participated as committee members in the discussion on the current issues faced by the steel industry, with CEO Kwon present at this meeting to contribute.

In the afternoon, to reestablish the development direction of the world`s steel industry and the role of worldsteel, there were 6 breakout sessions specially held to give steel company representatives the freedom to select the session they were most interested in, with heated discussions being held at all sessions.

The CEOs of major steel corporations hosting the sessions, with CEO Kwon Oh-joon hosting the session on `Ways to positively improve the leadership role played by the steel industry in helping developing countries`. Approximately 30 steel company representatives attended for discussions on this topic.

On the 6th, the second day of the annual conference, 300 steel company and industry representatives attended for discussions centered on the forecast for global economic and steel industry, with opinions shared on matters of cross-industry interest, including steel industry safety and health, as well as image improvement plans.

The 7th, the last day of the conference, a board of directors meeting and annual meeting was held, with important decisions taken on worldsteel`s plans and budget for the next year.

CEO Kwon was elected as a member of the worldsteel board of directors as well as an official member of the execution committee.

The Board of Directors is a group of official members made up of steel companies that produce more than 2 million tons of steel annually, with 72 companies from 30 different countries registered as members. The execution committee is the highest decision making group and is responsible for determining the major project strategy pursued by worldsteel. The committee itself consists of 15 members, who each serve three-year terms.

The 2015 annual conference will be held next October in Chicago, in the U.S.

POSCO Standing Advisor Chung Joonyang successfully ended his one-year term at the 48th Annual Conference in Moscow as worldsteel chairman and Austria`s Wolfgang Eder, CEO of voestalpine, was elected as the next chairman.

Meanwhile, worldsteel, which was established in 1967, is the leading authority in the steel industry. It undertakes activities for the better understanding and promotion of its interests. It has grown from its start as 18 companies from 11 countries. Today it consist of 170 organizations globally, including steel companies, related associations, and research centers, with its headquarters in Brussels, Belgium.