China Steel Reappoints Lin (Folo) Nippon Steel Says It’s Undecided About Arcelor BUSINESS ASIA By Bloomberg

Chiang Yao-chung, the chairman of China Steel, Taiwan’s largest steel maker, will be replaced by the man he succeeded less than two years ago.

Lin Wen-yuan has been appointed China Steel chairman, Su Hui- chun, public relations chief for the Ministry of Economic Affairs, said by phone from Taipei.

Lin stepped down from the post in November 2005 because of a dispute over his bonus payment. The government is the Kaohsiung- based steel maker’s biggest shareholder, with a 23 percent stake, according to Su, who did not specify the reasons for Chiang’s departure.

Lin was the China Steel chairman from December 2002 to November 2005. Almost 100 lawmakers had asked Lin, a government representative on China Steel’s board, to give up his 44 million Taiwan dollar, or $1.3 million, bonus, The United Daily News reported in October 2005.

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