Mr Susilo Bambang Yudhoyono President of Indonesia has announced that he will give his full fledged support to POSCO's joint project for an integrated steel mill in the country.
On August 5th 2010, the head of state invited POSCO CEO Mr Chung Joon yang to the Bogor Presidential Palace in West Java, where he said that the project of POSCO and Krakatau Steel, which agreed to establish a joint venture on August 4th 2010, will greatly contribute to the economic development of Indonesia, as well as the further growth of steel industries in both countries.
Mr Yudhoyono also said he will actively support the project as president. He added that "I am well aware of POSCO's rapid emergence as a leading global steel maker. I hope this joint project plays a critical role in meeting growing steel demand in Indonesia."
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