POSCO was incorporated in Korea on April 1, 1968. The Company is engaged in the manufacturing and distribution of steel rolled products and plates in the domestic and overseas markets. It manufactures and sells a line of steel products, including: hot rolled products; plates; wire rods; cold rolled products; silicon steel sheets; and stainless steel products. It has four reportable segments steel, engineering and construction, trading and other. The steel segment includes production of steel products and revenue of such products. The engineering and construction segment includes planning, designing and construction of industrial plants, civil engineering projects and commercial and residential buildings, both in Korea and overseas. The trading segment consists of exporting and importing a wide range of steel products and raw materials that are both obtained from and supplied to POSCO, as well as between other suppliers and purchasers in Korea and overseas. Other segment includes power generation, liquefied natural gas production, network and system integration and logistics activities. The Company's competitors include Hyundai Steel Co., Ltd. It is subject to national and local environmental laws and regulations.