| At
the annual shareholders meeting of Maeil Iron and Steel Co.,
Ltd., held today, my retirement as president and from the
board of directors was formally announced. My successor will
be Mr. Park Song-hyun, who is now president of Specialty Steel
Co., and one of the founding members of Maechol.
As you may know, I have been with Maechol since it was
founded 17 years ago. As such, it has been a privilege and
honor to have seen the company grow and acquire a reputation
as one of the world’s most modern and efficient steel
producers.
Thank you very much for the support and courtesies you
have extended to me over the years. We could never have
achieved as much as we did without your valued help. I trust
that your strong link with Maechol will be maintained in
the future.
My successor, Mr. Park, is one of the finest and most capable
men I know. I would hope that you will extend to him the
same support you have given to me.
Please accept my thanks and best wishes for the future.
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