Posco is the winner of the Grand Prize for the 2001 Korea Digital Award, it was announced by the Economist, a weekly magazine published by the Joong-Ang Ilbo. The Digital Award is granted by the Economist and e-CEO Club to conventional businesses that have been exemplary in their successful transition to e-business, while reducing costs and turning profit. Posco scored the highest in all three assessment steps: the panel review, paper evaluation, and field assessment, with a huge winning margin in the field of digital infrastructure. The award winners are selected by a panel of 203 e-business specialists who review a list of nominees recommended by industries. The panel review is then followed by rigorous paper evaluations and field assessments.