POSCO's CEO to step down: reports

SEOUL, Jan. 14 (Yonhap) -- The chief executive officer of POSCO Co., the world's
fourth-largest steel maker, will likely resign from the post, according to news
reports on Wednesday.

Lee Ku-taek, who was appointed to the post in 2003, will "voluntarily step down"
at the company's board meeting on Thursday, the JoongAng Ilbo newspaper and other
papers reported.
An official at POSCO, however, denied the reports, saying "It's true that words
about Lee's resignation are circulating, but no official decision has been made
over his stance."
The POSCO official said Lee would make an announcement on Thursday.
POSCO is scheduled to release its earnings for the final quarter of 2008 amid
expectations that the steel maker may post disappointing results due to the
global economic crisis.
The news reports said Yoon Seok-man, president of POSCO, and Jeong Joon-yang,
chief executive of POSCO's construction arm, may replace Lee.
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