June 2
New POSCO Code of Conduct announced We update our code for the 21st century to emphasize our commitment to integrity in all our stakeholder dealings. Our new Corporate Ethics Department provides guidance as well as monitoring compliance.

July 3
The POSCO Museum opens Opening on the 30th anniversary of Pohang Works Phase 1 completion, the museum recounts the myriad challenges and successes that have shaped us during our 35-year history.

August
Steel’s highest credit ratings rise Standard & Poor’s raises our rating from BBB+ to A- on the 8th, followed by Moody’s with a boost from Baa2 to A3 on the 13th. These ratings are the same as Korea’s sovereign rating and the highest of any steelmaker.

September 19
ZPSS commissions new cold-rolling mill Increasing capacity by 180,000 tons, the new mill positions Zhangjiagang POSCO Stainless Steel to win new business in China for its value-added stainless steel products.

October 30
POSMAC joint venture mine officially opens Our 20% stake in this venture with BHP Billiton and two other firms in Western Australia guarantees us 3 million tons of Marra Mamba iron ore annually over the next 25 years at a significant discount.

November 7
POSCO China Holding Corporation launched Established in Beijing with US$35 million in capital, the firm will plan and execute an integrated growth strategy for our expanding local network of 16 ventures and offices.