Stainless Steel Club of Korea Iron & Steel Association Elects Lee Jieun as Chairperson... "Full Commitment to Discovering New Demand"

Responding to Global Oversupply and Weakening Demand
Pursuing Expanded Applications and a Shift to High Value-Added Products

The Korea Iron & Steel Association has newly elected Lee Jieun as chairperson and finalized its strategy for responding to the stainless steel industry.

The Stainless Steel Club of the Korea Iron & Steel Association held a board meeting on the 23rd at the Grand InterContinental Parnas Hotel in Seoul. Korea Iron & Steel Association

The Stainless Steel Club of the Korea Iron & Steel Association announced that it held a board meeting on the 23rd at the Grand InterContinental Parnas Hotel in Seoul, where Lee Jieun was newly elected as chairperson and this year's business plan was finalized. The meeting was attended by key figures from the stainless steel industry, including POSCO, Hyundai BNG Steel, Daeyang Metal, and POSCO Mobility Solution.

During the board meeting, participants shared information about the internal and external challenges facing the industry, such as the global economic slowdown, shrinking steel demand, and continued oversupply in major countries, and discussed possible response strategies.

The club identified its core initiatives for this year as: expanding the application of stainless steel, strengthening the industry ecosystem, and enhancing the industry's image. The plan aims to broaden the range of applications by linking with new demand sectors and to boost competitiveness by shifting the market structure toward high value-added products.

In addition, the club plans to reinforce the institutional foundation by verifying technologies and reflecting design standards, and to establish a collaborative framework between industry and related organizations to expand practical field applications. Alongside these efforts, the club will also focus on raising industry awareness and broadening the demand base through research, institutional improvements, seminars, and promotional activities.

Chairperson Lee Jieun stated, "The entire industry is facing difficulties due to global oversupply. I will strengthen our role so that the industry can grow together by uncovering new sources of demand and reinforcing the industrial foundation."

The Stainless Steel Club was established in 1996 and currently has 63 member companies.

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