HBIS Group Chairman held talks with South Korean Ambassador to China Jung Jaeho

March 21, HBIS Group Chairman Yu Yong held talks with South Korean Ambassador to China Jung Jaeho at the HBIS headquarters. Both sides discussed the latest performance of steel industry, cooperation practise and opportunity between Chinese and Korean steel industry and its future development. Hebei Provincial Foreign Affair Office Director Liu Yuan, Deputy Director He Luming, HBIS Vice President Li Yiren, Embassy Business Officer Lee Jaegeun, Minister-Counselor Sun  Son Changho, POSCO China General Representative Song Yongsam also attended the meeting.  

Mr.Yu Yong welcomed Ambassador Jung Jaeho and his delegation visitation and made a brief introduction about China's steel industry and HBIS situation, as well as the cooperation progress between POSCO and HBIS, and shares the understanding on the market prospect and green and low-carbon development of steel industry. He said, since the establishment of POSCO & HBIS Comprehensive Strategic Partnership in 2017 and the wider and brighter future of electric vehicle market, the partners have been implementing the high strength automobile strip joint venture to provide high end products to Chinese electric vehicles. The joint venture is a firm action of the partners to reduce the carbon emissions.

Madam Liu Yuan said POSCO & HBIS Joint Venture of High Strength Automobile Strips was not only an iconic project of Chinese and Korean cooperation, it was of great importance to the upgrade of world steel industry, promotion of electric vehicle industry and even the development of green industry in the globe. We have high expectations to the project and we hope to see more cooperation between POSCO and HBIS, particularly in energy conservation and carbon reduction. Hebei Provincial Foreign Affair Office and other departments will offer the best services to the project partners. An open Hebei wishes to work with Korean friends in all fields. We hope that Ambassador visit could start a new wave of communications.

Ambassador Jung Jaeho thanked the warm reception from Chairman Yu Yong and he had a better understanding to Chinese steel industry, hydrogen steel making technologies. “I am glad to know the joint venture project of high-strength automotive panels between HBIS and POSCO, has achieved practical results and will be completed in this historical moment that in 2022, the 30th anniversary of the formal establishment of diplomatic ties between South Korea and China，and will put into operation in the second half of this year. This is a landmark event in the field of economic and trade cooperation between South Korea and China”. He emphasized that the HBIS & POSCO Electric Vehicle Steel Strip Plant was a future oriented project and could add great potential to cooperation of two countries.