Posco starts Indian subsidiary

 Posco India has been registered under the Companies Act, 1956 with the Registar of Companies, Orissa.

 The South Korean company had signed an agreement with the Orissa government to set up a Rs 51,000 crore steel project at Paradip.

 Soung-Sik Cho, senior executive vice-president of Posco, has been given the additional charge of managing director of the subsidiary. Tae-hyun Jeong has been appointed as the deputy managing director. While Cho will be based in Korea, Jeong will be based in Orissa.