The management of the Illichivsk port (Chornomorsk) met with representatives of the South Korean steel giant POSCO and its subsidiary POSCO DAEWOO on 8 September.

According to the Illichivsk port, attraction of new cargo flows and the possibility of investing in port infrastructure were discussed during the meeting. Members of the Korean delegation also familiarized themselves with the port’s facilities. The port’s experience in processing Capesize ships were of great interest to the delegation.

The Korean delegation included the head of POSCO DAEWOO’s Kyiv representative office, the director general of the POSCO corporation Haesu Jung, the CEO and Executive Director of POSCO, Heo Sunghyung, the deputy head POSCO DAEWOO’s Kyiv office, Kim Junpyo, the senior vice president of the group’s raw materials and chemical business, Hak Kyun Shin, and the manager of the primary commodities, minerals and chemical raw materials business, Lee Kwang Jae.

The Illichivsk port’s director Serhii Kryzhanovskyi said that the port was interested in broadening its international cooperation.

Founded in 1968, POSCO is the world's second largest steelmaker by market value and the most profitable steelmaking company in Asia. POSCO specialized in production of hot-rolled steel, sheet steel for the automotive industry, and stainless steel. It sells 70% of its products on the South Korean market and exports 30%.

POSCO DAEWOO is a leading South Korean company that trades in grain, coal, raw materials, metal products, chemical raw materials, and fertilizers.