POSCO appoints Choon-Kuhn Kwon as new head for Indian unit

POSCO, the South Korean steelmaker has appointed Choon-Kuhn Kwon as the new chairman and managing director of its Indian arm, according to media reports.

Avinash Tiwari, the POSCO-India spokesman told to media that Choon-Kuhn Kwon was scheduled to visit India next week. Kwon will replace Soung Sik Cho, who left last month after three years in the job.

The world's fourth largest steel producer, POSCO had singed MoU with the state government in 2005 for setting up a steel plant with an investment of $12 billion near Paradeep port in Jagatsinghpur district.

The project has been opposed by the farmers of the area over the land allotment to the steel giant. The agriculture is the major source of income for two-third population there.