Reviews the history of Pohang Iron & Steel Co.'s (POSCO) development under its founding Chairman, Mr. T. J. Park. Between 1968 and 1991 the company grew from nothing to the third largest steel producer in the world. Now POSCO's opportunities for further growth in steel appear limited and Chairman Park is raising the possibility of leaving the company to enter Korea's political arena. Teaching Purpose: Strategy of a developing country, and how what appeared to be outstanding opportunities at one stage of development no longer appear as attractive at a later stage.