Korea and China agreed to exchange information on demand-supply, price movement, and import-export of both countries to get into a strengthened relation. Both parties had 'The 4th Korea-China Governmental & Civil Steel Conference' on 31st May at COEX Intercontinental Hotel in Seoul on the subject of cooperative idea and major pending issues of steel industry. Attended from Korean side at the conference were 4 from Korean government authority, 14 from the Korea Iron & Steel Association and the steel producers. Attnded from China were 14 individuals, 6 government officials and 8 from Chinese steel association and the producers. At the conference, both parties exchanged statistics of steel industry and trade, and discussed over the countermeasures to the latest imbalance of raw material demand-supply and unstable price development and the impact of Chinese government tight money policy. Korean side explained the difficulties of raw material demand-supply in the first quarter of this year and its efforts to cope with them, and asked how China is procuring iron ores and coal, together with Chinese side opinion on future demand-supply. Korean side stated that Chinese market's role is important in leading the global demand, pointing out that the market price is dropping recently. It is known that Chinese side said, in response to it, 'It is desirable that the market price takes an adjustment period till end of this year before recovery.' It also sought Korean side's understanding on Chinese policy, adding that the steel price is sliding in short term, but the tight money policy is required for long-term stability. jhkwak@snmnews.com