YOON&YANG

A U.S. steel company, AK Steel, filed with the U.S. Department of Commerce an initiation of a countervailing duties investigation into Korean Non-oriented Electrical Steel (“NOES”) products manufactured by POSCO on the grounds that the Korean government provided POSCO and other non-oriented electrical steel companies with subsidies to the extent that these Korean companies became more competitive in exportation and consequently U.S. companies suffered losses. Consequently, U.S. Department of Commerce initiated a countervailing duties investigation on NOES manufactured in December 20, 2013.  Yoon & Yang LLC represented the Korean government in the countervailing duties investigation and the U.S. Department of Commerce dismissed the application of AK Steel and determined not to impose countervailing duties on POSCO.