South Korean steel company keen 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 have come to Tbilisi to meet local leaders and share their interest in investing $500 million in building an ultra-modern metallurgical plant in Georgia.

A group of POSCO high officials are in Georgia today to learn more about this sector in Georgia and the prospects of investing in this new industrial enterprise.

This afternoon POSCO Senior Vice President Jin Sik Choi met Georgia’s Deputy Foreign Minister David Jalagania in capital Tbilisi, where he told the Georgian side about the proposed investment project and the company's investment plans for Georgia.

Georgia’s Deputy Foreign Minister welcomed the strong interest and told the South Korean delegation about the political and economic situation and investment environment in Georgia. Jalagania also spoke fondly of the growing state of bilateral relations between Georgia and South Korea.