South Korean steel company opens new facility in Jeffersonville - WDRB 41 Louisville News

South Korean steel company opens new facility in Jeffersonville

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JEFFERSONVILLE, Ind. (WDRB) -

Posco, the fifth-largest steelmaker in the world, opened a new facility at the Port of Indiana Jeffersonville on Friday morning.

“Indiana might not be the top 20 vacation spots for Koreans, but for product, it is,” said Dr. Oh Joon Kwon, CEO of Posco.

This is Posco’s second plant in the United States.

“They are considered by most, including their peers, to be the most technologically advanced steel producer in the world,” said Rich Cooper, CEO of Port of Indiana.

The South Korean company chose the Port of Indiana Jeffersonville because it’s easy to get to and easy to leave.

“Having access to the Ohio River, multiple class one railroads and multiple interstates just outside the ports gates here are strategic advantages for your company,” Cooper said.

“We can save our logistics cost, and we can improve our transportation quality,” said Young Keun Hwang, President of Posco.

Gov. Eric Holcomb was at the grand opening Friday and added that Posco has access to a skilled workforce in Indiana. On top of that, the company will get $550,000 in tax credits and up to $50,000 in training grants, as long it does what it promised. 

Posco officials said it will give at least 60 people high-paying jobs, and right now, it has poured $21 million into phase one of the building, with an opportunity for three more phases.

“Indiana has been the steel capital of North America since 1975, and our state producers 25 percent of this great country's steel needs,” Cooper said.

Although it was a bright day for southern Indiana and the American steel industry, a dark topic loomed.

“In my opinion, the policy of U.S. government can influence the peace in the Korean peninsula,” Hwang said. “It also can influence a lot of Korean industry, but I don't worry about North American policy related to our business.”

Posco officials said politics on the Korean Peninsula haven't stopped the company from growing in the United States. 

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