Acquisition of Ownership Interest in AcerlorMittal Mining Canada Inc. by Consortium

In a consortium of POSCO, China Steel Corporation, EQ Partners (“EQP”) and POSCO Woori EIG Global Fund formed to purchase 15% of ownership interest in AcerlorMittal Mining Canada Inc. for USD 1.1 billion. Lee & Ko served as legal counsel to EQP, a private equity fund formed for undertaking this transaction.  A share purchase agreement was signed on December 31, 2012 and the transaction successfully closed on March 15, 2013.