e6vk
Table of Contents

 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15D-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2011
Commission File Number: 1-13368
POSCO
(Translation of registrant’s name into English)
POSCO Center, 892 Daechi 4-dong, Kangnam-gu, Seoul, Korea, 135-777
(Address of principal executive office)
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
         
Form20-F þ
      Form 40-F o
[Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
         
Yes o
      No þ
[If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b) : 82-                     .]
 
 

 


TABLE OF CONTENTS

SIGNATURES


Table of Contents

POSCO is furnishing under cover of Form 6-K :
Exhibition 99.1 : Notice of Ordinary General Meeting of Shareholders

 


Table of Contents

To Shareholders
Notice of the 43rd Ordinary General Meeting of Shareholders
     We hereby notify you that the 43rd Ordinary General Meeting of Shareholders will be held as follows in accordance with the Article 20 of the Articles of Incorporation (“AOI”).
[The figures provided in this material relate only to POSCO, and are not consolidated with those of its subsidiaries.]
1.   Date: February 25, 2011, 9:00 am
 
2.   Place: POSCO Center, 892, Daechi-4dong Gangnam-gu, Seoul, 135-777, Korea
 
3.   Agenda
Agenda 1 : Approval of Balance Sheet (Statements of Financial Position), Statements of Income, and Statements of Appropriation of Retained Earnings for the 43rd Fiscal Year

 


Table of Contents

Balance Sheet (Statements of Financial Position)
As of December 31, 2010 and 2009
(Unit: Korean Thousand Won)
                         
Description   2010   2009   Changes
(Asset)
                       
 
                       
I. Current Assets
    13,008,707,415       12,918,063,757       90,643,658  
1. Quick Assets
    7,019,949,308       9,921,738,444       D2,901,789,136  
1. Cash and cash equivalents
    672,426,447       626,782,472       45,643,975  
2. Short-term financial instruments
    2,376,721,649       5,581,593,675       D3,204,872,026  
3. Trading securities
    182,207,924       505,810,900       D323,602,976  
4. Current portion of available-for-sales securities
    0       20,230,000       D20,230,000  
5. Current portion of held-to-maturity securities
    1,978,044       20,000,000       D18,021,956  
6. Trade accounts and notes receivables
    3,332,269,744       2,695,160,906       637,108,838  
Allowance for doubtful accounts
    D4,686,564       D11,252,312       6,565,748  
7. Other accounts receivable
    174,964,519       137,559,653       37,404,866  
Allowance for doubtful accounts
    D10,588,676       D10,618,021       29,345  
8. Accrued income
    28,888,019       49,986,803       D21,098,784  
9. Prepayment
    6,217,512       11,943,114       D5,725,602  
10. Prepaid expenses
    13,648,477       8,465,639       5,182,839  
11. Deferred income tax assets
    245,754,712       286,075,615       D40,320,903  
12. Other quick assets
    147,501       0       147,500  
2. Inventories
    5,988,758,107       2,996,325,313       2,992,432,794  
1. Finished goods
    698,219,197       344,192,189       354,027,008  
Provision for valuation loss
    D593,172       D691,044       97,872  
2. By-products
    5,541,852       4,281,160       1,260,692  
3. Semi-finished goods
    1,431,341,301       843,719,822       587,621,479  
4. Raw materials
    1,704,830,493       696,491,504       1,008,338,989  
5. Fuel and materials
    524,077,414       405,002,668       119,074,746  
6. Materials— in-transit
    1,624,765,227       702,807,428       921,957,799  
7. Others
    575,795       521,586       54,209  

 


Table of Contents

(Unit: Korean Thousand Won)
                         
Description   2010   2009   Changes
II. Non-current Assets
    35,181,537,666       27,074,701,228       8,106,836,438  
1. Investments
    16,125,045,639       10,212,391,248       5,912,654,391  
1. Long-term financial instruments
    40,400       40,400       0  
2. Available-for-sales securities
    5,011,710,632       4,522,920,625       488,790,007  
3. Held-to-maturity securities
    29,829,674       31,674,760       D1,845,086  
4. Equity method accounted investments
    11,034,515,244       5,633,218,152       5,401,297,092  
5. Long-term loans receivable
    48,983,978       24,554,499       24,429,479  
Allowance for doubtful accounts
    D34,289       D17,188       D17,101  
2. Tangible Assets
    18,547,857,357       16,645,593,558       1,902,263,799  
1. Land
    1,110,172,608       961,869,037       148,303,571  
2. Buildings
    4,686,429,193       3,946,866,724       739,562,469  
Accumulated depreciation
    D2,135,765,617       D1,948,356,832       D187,408,785  
3. Structures
    3,284,062,810       2,687,870,751       596,192,059  
Accumulated depreciation
    D1,339,861,242       D1,207,951,198       D131,910,044  
4. Machinery and equipment
    31,455,065,586       28,119,425,237       3,335,640,349  
Accumulated depreciation
    D21,272,258,263       D19,848,993,415       D1,423,264,848  
5. Vehicle
    182,136,501       172,312,389       9,824,112  
Accumulated depreciation
    D159,382,325       D155,509,732       D3,872,593  
6. Tools
    158,895,422       146,097,221       12,798,201  
Accumulated depreciation
    D131,088,005       D129,360,350       D1,727,655  
7. Furniture and fixtures
    208,772,181       183,806,707       24,965,474  
Accumulated depreciation
    D142,427,908       D133,749,293       D8,678,615  
8. Capital lease assets
    11,465,641       11,465,641       0  
Accumulated depreciation
    D2,547,920       D1,910,940       D636,980  
9. Construction-in-progress
    2,634,188,695       3,841,711,611       D1,207,522,916  
3. Intangible Assets
    172,642,997       151,828,810       20,814,187  
1. Intellectual property rights
    4,918,945       3,027,836       1,891,109  
2. Port facilities usage rights
    112,682,905       100,143,943       12,538,962  
3. Other intangible assets
    55,041,147       48,657,031       6,384,116  
4. Other non-current assets
    335,991,673       64,887,612       271,104,061  
1. Long-term trade accounts and notes receivables
    252,290       1,874,932       D1,622,642  
Allowance for doubtful accounts
    D228,608       D568,468       339,860  
2. Guarantee deposits
    2,212,836       1,770,624       442,212  
3. Other investments
    333,777,343       62,485,103       271,292,240  
Allowance for doubtful accounts
    D22,188       D674,579       652,391  
Total Assets
    48,190,245,081       39,992,764,985       8,197,480,096  

 


Table of Contents

(Unit: Korean Thousand Won)
                         
Description   2010   2009   Changes
(Liabilities)
                       
 
                       
I. Current Liabilities
    5,823,593,945       2,685,842,052       3,137,751,893  
1. Trade accounts payables
    1,310,876,710       739,746,242       571,130,468  
2. Short-term borrowings
    1,119,071,148       430,909,766       688,161,382  
3. Income taxes payable
    594,539,016       290,637,891       303,901,125  
4. Dividends payable
    5,568,570       5,143,235       425,335  
5. Current portion of long-term debts
    1,776,427,653       1,065,427       1,775,362,226  
6. Other accounts payables
    728,574,815       987,976,723       D259,401,908  
7. Advances received
    33,241,730       25,614,657       7,627,073  
8. Withholdings
    30,792,348       51,074,649       D20,282,301  
9. Accrued expenses
    209,490,165       145,484,273       64,005,892  
10. Unearned revenue
    4,181,850       2,011,898       2,169,952  
11. Others
    10,829,940       6,177,291       4,652,649  
 
                       
II. Long-term Liabilities
    7,284,461,243       6,355,632,323       928,828,920  
1. Debentures
    5,872,258,386       5,649,689,819       222,568,567  
Discount on debentures
    D58,214,818       D64,916,655       6,701,837  
Premium on redemption of debentures
    11,137,585       10,067,258       1,070,327  
2. Long-term borrowings
    90,598,000       75,519,000       15,079,000  
3. Foreign currency long-term borrowings
    377,204,938       5,577,792       371,627,146  
4. Bank loans
    4,073,918       5,571,823       D1,497,905  
5. Estimated severance benefits (net)
    981,184,616       784,356,837       196,827,779  
Transferred to National Pension Fund
    D82,341       D82,341       0  
Deposits for severance benefits trust
    D689,079,659       D599,087,525       D89,992,134  
6. Deferred income tax liabilities
    648,183,357       400,276,621       247,906,736  
7. Other long-term liabilities
    47,197,261       88,659,694       D41,462,433  
Total Liabilities
    13,108,055,188       9,041,474,375       4,066,580,813  

 


Table of Contents

(Unit: Korean Thousand Won)
                         
Description   2010     2009     Changes  
(Shareholders’ Equity)
                       
 
                       
I. Capital Stock
    482,403,125       482,403,125       0  
 
                       
II. Capital Surplus
    4,421,191,425       4,404,068,992       17,122,433  
1. Paid-in capital in excess of par value
    463,825,293       463,825,293       0  
2. Revaluation surplus
    3,172,775,771       3,172,775,771       0  
3. Other capital surplus
    784,590,361       767,467,928       17,122,433  
 
                       
III. Capital Adjustments
    D2,403,262,926       D2,403,262,926       0  
1. Treasury stock
    D2,403,262,926       D2,403,262,926       0  
 
                       
IV. Accumulated other comprehensive income
    1,129,105,850       524,823,984       604,281,866  
1. Gain on valuation of investment securities
    851,238,863       651,464,860       199,774,003  
2. Loss on valuation of investment securities
    D500,295,498       D677,507,276       177,211,778  
3. Capital changes of securities under equity method
    926,262,876       654,433,260       271,829,616  
4. Capital losses of securities under equity method
    D148,100,391       D103,566,860       D44,533,531  
 
                       
V. Retained Earnings
    31,452,752,419       27,943,257,435       3,509,494,984  
1. Legal reserve
    241,201,563       241,201,563       0  
2. Voluntary reserve
    27,000,027,641       24,407,023,733       2,593,003,908  
3. Unappropriated retained earnings
    4,211,523,215       3,295,032,139       916,491,076  
 
                 
 
                       
Total Shareholders’ Equity
    35,082,189,893       30,951,290,610       4,130,899,283  
 
                 
 
                       
Total Liabilities and Shareholders’ Equity
    48,190,245,081       39,992,764,985       8,197,480,096  
 
                 

 


Table of Contents

Statements of Income
For the Years Ended December 31, 2010 and 2009
(Unit: Korean Thousand Won)
                         
Description   2010   2009   Changes
I. Sales
    32,582,036,641       26,953,944,911       5,628,091,730  
1. Sales of finished goods
    32,432,823,004       26,837,551,573       5,595,271,431  
2. Other sales
    149,213,637       116,393,338       32,820,299  
 
                       
II. Cost of Sales
    26,018,331,413       22,574,304,260       3,444,027,153  
1. Cost of finished goods
    25,935,265,272       22,509,505,979       3,425,759,293  
2. Other cost of sales
    83,066,141       64,798,281       18,267,860  
 
                       
III. Gross Profit
    6,563,705,228       4,379,640,651       2,184,064,577  
 
                       
IV. Selling and Administrative Expenses
    1,516,659,157       1,231,642,350       285,016,807  
1. Salaries and wages
    148,969,183       94,600,039       54,369,144  
2. Provision for severance benefits
    38,709,288       5,831,030       32,878,258  
3. Other employ benefits
    55,255,176       78,527,288       D23,272,112  
4. Travel
    20,794,833       12,579,590       8,215,243  
5. Communications
    8,486,295       7,314,762       1,171,533  
6. Utilities
    1,210,233       454,584       755,649  
7. Heating
    450,180       515,388       D65,208  
8. Taxes and public dues
    4,476,878       4,379,119       97,759  
9. Depreciation and amortization of tangible asset
    16,529,649       14,703,922       1,825,727  
10. Depreciation and amortization of intangible asset
    15,570,651       16,094,019       D523,368  
11. Rent
    26,844,136       19,820,795       7,023,341  
12. Repairs
    13,050,564       10,535,628       2,514,936  
13. Insurance
    684,264       11,635,409       D10,951,145  
14. Entertainment
    5,084,418       3,558,942       1,525,476  
15. Advertising
    84,719,803       72,103,460       12,616,343  
16. Research and development
    94,241,467       53,947,161       40,294,306  
17. Fees and charges
    146,370,184       112,851,963       33,518,221  
18. Prize
    4,320,506       2,451,287       1,869,219  
19. Supplies
    7,444,978       4,146,602       3,298,376  
20. Clothing
    117,350       94,846       22,504  

 


Table of Contents

(Unit: Korean Thousand Won)
                         
Description   2010   2009   Changes
21. Subscriptions and printing
    3,076,771       2,665,158       411,613  
22. Vehicles expenses
    6,319,562       5,571,721       747,841  
23. Membership fees
    7,562,882       7,158,257       404,625  
24. Training
    21,743,708       12,087,994       9,655,714  
25. Public affair expenses
    7,010,288       5,901,434       1,108,854  
26. Stock compensation expense
    0       36,100,499       D36,100,499  
27. Freight
    702,391,170       556,657,591       145,733,579  
28. Operating expenses for distribution center
    8,685,743       9,189,268       D503,525  
29. Sales commissions
    49,635,430       53,627,016       D3,991,586  
30. Sales advertising
    1,545,743       345,943       1,199,800  
31. Sales promotions
    7,792,274       4,820,135       2,972,139  
32. Samples
    1,775,717       1,661,936       113,781  
33. Sales insurance
    11,969,692       590,557       11,379,135  
34. Bad debt expenses
    D6,625,985       8,860,621       D15,486,606  
35. Others
    446,126       258,386       187,740  
 
                       
V. Operating Income
    5,047,046,071       3,147,998,301       1,899,047,770  
 
                       
VI. Non-operating Income
    1,580,060,690       2,066,256,887       D486,196,197  
1. Interest income
    230,455,504       208,473,258       21,982,246  
2. Dividend income
    84,519,870       60,114,265       24,405,605  
3. Gain on disposal of trading securities
    15,372,613       21,102,741       D5,730,128  
4. Gain on valuation of trading securities
    1,882,189       5,810,900       D3,928,711  
5. Gain on foreign currency transactions
    438,917,892       649,733,054       D210,815,162  
6. Gain on foreign currency translation
    85,053,786       422,224,980       D337,171,194  
7. Equity in earnings of equity method accounted investments
    612,931,828       585,436,084       27,495,744  
8. Gain on disposal of investments
    1,221,669       8,939,023       D7,717,354  
9. Gain on disposal of property, plant and equipment
    24,598,655       21,273,569       3,325,086  
10. Gain on derivatives transactions
    26,737,224       33,457,872       D6,720,648  
11. Gain on valuation of derivatives
    1,248,353       7,065,344       D5,816,991  
12. Reversal of allowance for doubtful accounts
    0       416,788       D416,788  
13. Gain on disposal of other non-current assets
    367,555       1,892,841       D1,525,286  
14. Miscellaneous income
    56,753,551       40,316,168       16,437,383  

 


Table of Contents

(Unit: Korean Thousand Won, except per share amounts)
                         
Description   2010   2009   Changes
VII. Non-operation Expenses
    1,476,994,788       1,631,730,935       D154,736,147  
1. Interest expense
    318,638,264       288,574,632       30,063,632  
2. Other bad debt expenses
    D664,635       20,654       D685,289  
3. Loss on foreign currency transactions
    437,815,222       722,955,973       D285,140,751  
4. Loss on foreign currency translation
    259,050,760       15,405,550       243,645,210  
5. Donations
    59,647,291       106,410,365       D46,763,074  
6. Equity in losses of equity method accounted investments
    275,224,463       235,406,940       39,817,523  
7. Loss on impairment of investments
    0       131,125,999       D131,125,999  
8. Loss on disposal of investments
    530,036       13,163       516,873  
9. Loss on disposal of property, plant and equipment
    92,209,253       73,822,162       18,387,091  
10. Loss on derivatives transactions
    0       19,280,928       D19,280,928  
11. Loss on disposal of accounts and notes receivables
    3,199,365       5,458,389       D2,259,024  
12. Loss on disposal of other non-current assets
    30,367       270,549       D240,182  
13. Others
    31,314,402       32,985,631       D1,671,229  
 
                       
VIII. Income Before Income Taxes
    5,150,111,973       3,582,524,253       1,567,587,720  
 
                       
IX. Income Tax Expense
    947,321,087       410,260,752       537,060,335  
 
                       
X. Net Income
    4,202,790,886       3,172,263,501       1,030,527,385  
 
                       
XI. Basic earnings per share (in Korean won)
    (54,558 )     (41,380 )     (13,178 )

 


Table of Contents

Statements of Appropriation of Retained Earnings
For the Year Ended December 31, 2010 and 2009
(Unit: Korean Thousand Won)
                         
Description   2010   2009   Changes
I. Retained Earnings Before Appropriations
    4,211,523,215       3,295,032,139       916,491,076  
1. Unappropriated retained earnings carried over from prior year
    201,314,525       237,623,512       D36,308,987  
2. Interim dividends
    D192,582,196       D114,854,874       D77,727,322  
a. Cash dividends
    D192,582,196       D114,854,874       D77,727,322  
Dividend (ratio) per share
                       
\2,500 (50%) in 2010
                       
\1,500 (30%) in 2009
                       
3. Net income
    4,202,790,886       3,172,263,501       1,030,527,385  
 
                       
II. Transfer From Voluntary Reserves
    195,000,000       391,666,667       D196,666,667  
1. Reserve for research and development
    195,000,000       391,666,667       D196,666,667  
 
                       
 
                       
Total
    4,406,523,215       3,686,698,806       719,824,409  
 
                       
III. Appropriations of Retained Earnings
    4,158,845,219       3,485,384,281       673,460,938  
1. Dividends
    577,746,585       500,713,707       77,032,878  
a. Cash dividends
    577,746,585       500,713,707       77,032,878  
\7,500 (150%) in 2010
                       
\6,500 (130%) in 2009
                       
2. Reserve for research and development
    400,000,000       800,000,000       D400,000,000  
3. Reserve for business expansion
    2,950,000,000       2,000,000,000       950,000,000  
4. Reserve for dividend equalization
    231,098,634       184,670,574       46,428,060  
 
                       
 
                       
IV. Unappropriated Retained Earnings Carried Forward to Subsequent Year
    247,677,996       201,314,525       46,363,471  
 
                       

 


Table of Contents

Agenda 2: Partial Amendments to Articles of Incorporation
         
Existing Article   Amendment   Remark
Article 4. Notices
Public notices by the Company shall be given, when necessary, by inserting them in the Seoul Shinmun, the Maeil Shinmun and the Kwangju Ilbo, daily newspapers published in Seoul, Daegu Metropolitan City and Kwangju Metropolitan City, respectively.
  Article 4. Notices
Public notices by the Company shall be disclosed on the website of the Company(http://www.posco.com). When such online disclosure is made impracticable due to online system error or any other electronic technical failure, public notices by the Company shall be disclosed in the Seoul Shinmun, the Maeil Shinmun and the Kwangju Ilbo, daily newspapers published in Seoul, Daegu Metropolitan City and Kwangju Metropolitan City, respectively.
  Reflection of amended Commercial Law, Online Disclosure
 
       
(Incorporation)
  Article 2 of 13. Register of Shareholders by Electronic Means
In accordance with the Commercial Code, the Company may make entries in the Register of Shareholders by electronic means.
  Reflection of amended Commercial Law, Register of Shareholders by Electronic Means
 
       
Article 15. Suspension of Alterations of Entries in the Register of Shareholders
  Article 15. Record Date and Suspension of Alterations of Entries in the Register of Shareholders    
 
       
(1) The Company shall suspend entries of alterations, registration or cancellation of pledges over shares and indication of trust assets and cancellation thereof in the Register of Shareholders of a period commencing on January 1 and ending on January 15 of each year.
  (1) The Company shall suspend entries of alterations, registration or cancellation of pledges over shares and indication of trust assets and cancellation thereof in the Register of Shareholders of a period commencing on January 1 and ending on January 15 of each year.    
 
       
(2) The Company may, by resolution of the Board of Directors or by resolution of a committee as authorized by the Board of Directors, suspend the entry of a change as to the matters contained in the Register of Shareholders for a specified period of time or set a record date when deemed necessary and for the purpose of convening an Extraordinary General Meeting of Shareholders; provided, however, that the period of suspension shall not exceed three (3) months and two (2) weeks prior notice of suspension or fixing of a record date has been given to the shareholders. The Board of Directors or such authorized committee may, when deemed necessary, both suspend the entry of a change in the Register of Shareholders and set a record date.
  (2) The record date of the Register of Shareholders shall be December 31 of each year, and such shareholders listed on the Register of Shareholders as of the record date shall be entitled to exercise their rights thereof at the General Meetings of Shareholders.

(3) The Company may, by resolution of the Board of Directors or by resolution of a committee as authorized by the Board of Directors, suspend the entry of a change as to the matters contained in the Register of Shareholders for a specified period of time or set a record date when deemed necessary and for the purpose of convening an Extraordinary General Meeting of Shareholders; provided, however, that the period of suspension shall not exceed three (3) months and two (2) weeks prior notice of suspension or fixing of a record date has been given to the shareholders. The Board of Directors or such authorized committee may, when deemed necessary, both suspend the entry of a change in the Register of Shareholders and set a record date.
  Record Date of the Register of Shareholders
 
       
 
  ADDENDA (February 25, 2011) The amended Articles of Incorporation shall be effective from the date on which they are approved by the resolution at the Ordinary General Meeting of Shareholders for the 43rd fiscal year.    

 


Table of Contents

Agenda 3: Election of the Directors
     3-1 : Election of Outside Directors
     [Description of the Proposal]
Pursuant to Article 382 of the Korean Commercial Act and Article 28 of the Company’s Articles of Incorporation, we request that the Ordinary General Meeting of Shareholders appoint Outside Directors of the Company.
¨     Number of Outside Directors to be Elected : 3 Directors
¨     Candidates
                     
            Transactions        
    Date of Birth       with POSCO   Relationships    
    Recommended   Major   over the last   with largest    
Name   By   Experience   three years   shareholders   Term
Nam, Yong
  Mar. 16, 1948
Director Candidate Recommendation
Committee
  Vice Chairman & CEO, LG Electronics (Present)
President of Strategic Business Initiatives, LG Corp.
President & CEO, LG Telecom, Ltd
  None   None   2yr
 
                   
Byun, Dae-Gyu
  Mar. 8, 1960
Director Candidate Recommendation
Committee
  Chairman & CEO, Humax Co., Ltd (Present)
Member of National Science & Technology Council
Full member of the Nat’l Academy of Engineering of Korea
  None   None   2yr
 
                   
Park, Sang-Kil
  Nov. 10, 1953
Director Candidate Recommendation
Committee
  Lawyer, Kim & Chang (Present)
Prosecuter General, Daejeon High Prosecutor’s Office
Prosecuter General, Busan High Prosecutor’s Office
  None   None   2yr

 


Table of Contents

3-2 : Election of Audit Committee Members
     [Description of the Proposal]
Pursuant to Article 415-2, 542-11 and 542-12 of the Korean Commercial Act and Article 48 of the Company’s Articles of Incorporation, we request that the Ordinary General Meeting of Shareholders appoint Audit Committee members of the Company.
o Number of Audit Committee Members to be Elected : 2 Members
o Candidates
                     
            Transactions        
    Date of Birth       with POSCO   Relationships    
    Recommended   Major   over the last   with largest    
Name   By   Experience   three years   shareholders   Term
Kim, Byung-Ki
  Jun. 26, 1950
Director Candidate
Recommendation
Committee
  Visiting Professor, Technology Management Economics and Policy Graduate Program, Seoul Nat’l University (Present)
President, Samsung Economic Research Institute
Deputy Minister, Planning and Management Office, Ministry of Finance and Economy
  None   None   1yr
 
                   
Park, Sang-Kil
  Nov. 10, 1953
Director Candidate Recommendation Committee
  Lawyer, Kim & Chang (Present)
Prosecuter General, Daejeon High Prosecutor’s Office
Prosecuter General, Busan High Prosecutor’s Office
  None   None   2yr

 


Table of Contents

3-3 : Election of Inside Director
     [Description of the Proposal]
Pursuant to Article 382 of the Korean Commercial Act and Article 28 of the Company’s Articles of Incorporation, we request that the Ordinary General Meeting of Shareholders appoint Inside Director of the Company.
o Number of Inside Director to be Elected: 1 Director
o Candidates
                     
            Transactions        
    Date of Birth       with POSCO   Relationships    
    Recommended   Major   over the last   with largest    
Name   By   Experience   three years   shareholders   Term
Choi, Jong-Tae
  Sep. 20, 1949
Board of Directors
  President and Representative Director, POSCO (Present)
Senior Executive Vice President, POSCO
Executive Vice President, POSCO
  None   None   1yr
 
                   

 


Table of Contents

Agenda 4: Approval of Limits of Total Remuneration for Directors
     [Description of the Proposal]
Pursuant to Article 388 of the Korean Commercial Act and Article 36 of the Company’s Articles of Incorporation, we request that the Ordinary General Meeting of Shareholders approve Limits of the Total Remuneration for Directors in the 43rd fiscal year.
o The Limit (to be approved) of the Total Remuneration in the 44th fiscal year:
KRW 7.0 billion
o The Limit (approved) of the Total Remuneration in the 43rd fiscal year:
KRW 7.0 billion

 


Table of Contents

SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
             
    POSCO
(Registrant)
   
 
           
Date : February 1, 2011
  By   /s/ Choi, Jong-Tae
 
(Signature)*
   
 
      Name: Choi, Jong-Tae    
 
      Title: President    
 
*  Print the name and title under the signature of the signing officer.