LOUISVILLE, Ky. (WDRB) -- A South Korean company is bringing high-paying jobs to southern Indiana.

POSCO makes steel, and the company is bringing its newest plant to the Port of Indiana-Jeffersonville. Executives from the company, along with community leaders, broke ground today.

The facility will sit on about 10 acres. The Jeffersonville plant will process steel wire, nuts and bolts used in the auto industry, and will distribute other POSCO products.

POSCO executives say it was critical for this facility to receive steel by barge -- and be close to major customers in the auto industry.

The bridges project also helped seal the deal.

Mayor Mike Moore says he's proud that a company in South Korea has taken notice of what's going on in Jeffersonville.

"Look what we have to offer right here, not only the interstates, we've got the Ohio River, we've got a fantastic rail system, that's why we're setting records here in the port for distributing tonnage across the country, across the world," Mayor Moore said.

The company will be up and running next year and will create up to 60 high-wage jobs by 2018. The average hourly wage will be about $30.

POSCO operates more than 300 facilities in 43 countries.

The Port of Indiana-Jeffersonville is home to 28 businesses, and handled over one million tons of steel cargoes last year.

POSCO also presented the Greater Clark County School District with a $2,000 check today to support college and career readiness.

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