On July 19, South Korean steel giant POSCO signed an agreement to build a comprehensive business partnership with China`s Jilin Province and to actively participate in urban and industrial development. POSCO said that this is the first time that as a single company it has signed such an agreement with Jilin Province.
Accordingly, POSCO chairman Joonyang Chung and Jilin governor Rulin Wang agreed to carry out joint projects in five fields, namely, steel, automobile, construction, public works and the cutting edge industry.
The cooperation agreement was made in line with the plan of revitalizing the northeastern China region including Jilin, Liaoning and Heilung-kiang.
At the meeting held before and after the signing of the agreement, Mr. Chung emphasized, "Jilin Province not only has an extremely high economic growth rate, but is also geographically located in an important position near the Korean peninsula. POSCO's business capabilities and Jilin Province's developmental wills combined can create a win-win future."