INI Consortium (INI Steel and Hyundai HySco) was chosen a preferential negotiator to buy Hanbo Steel. Letters of intent submitted by 25th May by the interested buyers were evaluated by Evaluation Committee and examined by the ruling court on 27th May. On the same day, it was announced that INI consortium was chosen a preferential buyer. According to Hanbo Steel, 7 out of 10 provisional buyers participated in the final bidding and the evaluation was made based on a pre-fixed standard. POSCO-Dongkuk consortium was chosen a provisional negotiator, next to INI Steel-Hyundai HySco consortium, by an internal policy made in advance that a provisional negotiator can be assigned in case there is no difference of bidding price. The bidding price was known to be approximately 910 billion Won, more than double of 450 billion Won previously bidden by AK Capital at the failed contract, by both of INI consortium and POSCO-Dongkuk consortium. It is said that the evaluation criteria were the bidding price, fund raising capability, managemental ability, employment continuation, financial ability, and the revised content of memorandum. ctpark@snmnews.com