South Korean steel company is interested to invest $500m in Georgia

South Korea’s largest multinational steel-making company POSCO is showing an interest in investing hundreds of millions of dollars in Georgia.

Company representatives visited Tbilisi to meet local leaders and share their interest in investing $500 million in building an ultra-modern metallurgical plant in Georgia. During the meeting the two parties introduced the investment project and revealed their future plans regarding Georgia.

POSCO is a multinational steel-making company headquartered in Pohang, South Korea. It had an output of 39.1 million tons of crude steel in 2011, making it the world’s fourth-largest steelmaker by this measure. In 2010, it was the world’s largest steel manufacturing company by market value.