Hyundai Steel held a New Year gathering with its cooperative partners during which Hyundai Steel Vice Chairman Park Seung-ha extended his whole-hearted thanks to the subcontractors for their partnership based on trust, despite last year's difficult economic circumstances, and the steelmaker reconfirmed its pledge to ensure sustained growth. 

Hyundai Steel Vice Chairman Park and his executives in charge of procurement held a New Year meeting with CEOs and representatives of the company's 200 cooperative partners at the Dangjin Steelworks in Chungcheongnam-do on Jan. 18, during which excellent subcontractors were honored with prizes. 

Vice Chairman Park said in his speech, "The year 2011 was a year in which we rose to be on par with global steelmakers, thanks to the early stabilization of the steelmaking business, and I appreciate our cooperative partners' sincere support despite business uncertainties.

"This year is the time in which we will have to devote ourselves to ensuring shared growth through close cooperation with our cooperative partners, as the business environment is faced with worse internal and external hardships than at any time before." He called for the participants to share the fruits of shared growth by taking a joint stance to ramp up competitiveness with the goal of becoming a global leader.

The participants shared the view that Hyundai Steel's spectacular growth and development since its entry into the integrated steelmaking business was owed to the cooperative partners' passion and strenuous efforts, and the steelmaker's development would serve as an opportunity for the subcontractors to experience new growth.

Hyundai Steel plans to carry out transparent and fair practices with its customers and cooperative partners, officials of the steelmaker said. Recognizing shared growth with its cooperative partners as an essential management factor, Hyundai Steel will strive to share its vision with its cooperative partners based on mutual trust and will aggressively provide support to step up their competitive edge in the long term, the officials said. 

Hyundai Steel will also strive to put into practice transparent management and ethics management and do its utmost to become a global steelmaking leader, respected by shareholders, customers and the local community.   nw