Limits to Korean business expansion
Limits to Korean business expansion
The case of POSCO in India
The deregulation of the Indian economy has made the state of Odisha an attractive destination for large capital-intensive mineral-based projects by private sector firms. The POSCO-India project of Korea’s largest steel company is designed to secure raw materials and penetrate the Indian steel market. This chapter shows that thus far nothing has gone right since the decision to invest in Odisha was made despite the full backing of the Odisha state government. There is opposition to the project, especially from those likely to be displaced from their land and livelihoods. This chapter addresses several related questions such as why POSCO decided to invest in the project and why the Odisha government welcomed the investment? What is the origin of the protests against the project and what are people demanding? The chapter examines the background of the POSCO investment and the discontent of the people in Odisha to address these questions.
Keywords: POSCO-India project, Indian steel market, secure raw materials, protests, Odisha
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