Seoul, Republic of Korea – April 04, 2012 – Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, announces winning Russia-Korea Business Awards’ Best Corporation nomination.

The award ceremony was held on April 3, 2012, in Seoul. The ceremony was attended by Russian Federation’s Deputy Minister for Economic Development Igor Manylov, the Republic of Korea’s Deputy Minister for Knowledge Economy Moon Chai Do, Russian Federation’s Plenipotentiary Ambassador in the Republic of Korea Konstantin Vnukov, Russian Federation’s Trade Representative in the Republic of Korea Mikhail Bondarenko, Vice-President of Korea Chamber of Commerce and Industry Lee Dong Geun, Vice-President of Federation of Korean Industries Ahn Heun Ho and other officials, as well as representatives of Russian and Korean business circles.

Mechel has strong partnership ties with South Korean consumers of its products, mostly coking coal, including major companies like POSCO and Hyundai Steel. South Korea’s POSCO company is Mechel’s strategic partner in joint projects in the steel, mining and infrastructure industries. Since August 2009, Mechel’s official representative office is working in Seoul.

Russia-Korea Business Awards were organized by the Russian Federation’s Trade Representative in the Republic of Korea and the Republic of Korea’s Ministry of Knowledge Economy, as well as leading Korean foreign economic organizations — Korea International Trade Organization (KITA), Korea Importers Association (KOIMA), Korea Chamber of Commerce and Industry (KCCI), Federation of Korean Industries (FKI). The award ceremony is due to be held annually to strengthen the dialogue between Russian and Korean business communities.

“Mechel’s winning the Best Corporation award shows that the projects we implement together with our South Korean partners not only strengthen trade and economic ties, but create a solid and lasting basis of trust and mutual understanding between our two countries,” Mechel OAO’s representative in South Korea Evgeniya Mudrova noted as she received the Russia-Korea Business Award on the company’s behalf.