Nippon Steel, POSCO launch strategic business tie-up

TOKYO, Japan - Akira Chihaya (L), president of Nippon Steel Corp. of Japan, and Yoo Sang Boo, chairman of Pohang Iron & Steel Co. of South Korea, shake hands prior to a news conference in Tokyo Aug. 2. The world's two largest steelmakers announced they have signed a contract for a strategic business alliance.