Members of G-20

The second largest country in South America, Argentina is a federal republic comprised of 23 provinces and one autonomous city. Capital: Buenos Aires. The country uses a presidential system with a bicameral parliament. It currently ranks second in Latin America and 23rd in the world in terms of GDP. It plays a key role in MERCOSUR, the Latin American Common Market, and participates in efforts to bring about regional economic integration. • Population: 40,677,348 (as of 2008) • Area: 2,766,890 ㎢  • Official language: Spanish  • Local currency: Argentine peso (ARS) • Official internet homepage of the government: www.argentina.gov.ar Australia is the smallest of the seven continents and the sixth largest country in the world. It is a member of the British Commonwealth of Nations and comprised of six states. Its official name: The Commonwealth of Australia. Capital: Canberra. The country has a federal (bicameral) parliamentary system (a constitutional monarchy, officially speaking). The symbolic head of state is the British Queen, who is represented by the Governor-General. The Prime Minister is the head of government. • Population: 21.87 million (as of 2009) • Area: 7,692,208 ㎢  • Official language: English  • Local currency: Australian dollar (AUD)  • Official internet homepage of the government: www.australia.gov.au Brazil is the largest South American country and the fifth largest in the world. The country's official name: Federal Republic of Brazil. Capital: Brazilia. The country uses the presidential system and has a bicameral parliament. It is rich in natural resources such as iron ore, gold, and bauxite; agricultural products such as coffee, soybeans, and sugarcane; and biodiversity, with more than 13 % of the world's species living on its land. Brazil is well-known for soccer, and it has won the FIFA World Cup five times. An emerging economy, it is one of so-called BRIC (Brazil, Russia, India and China) states. Currently, it is pursuing the qualitative and quantitative growth of the South American market. • Population: 191,908,598 (as of 2008)  • Area: 8,511,965㎢  • Official language: Portuguese  • Local currency: Real (BRL) (ARS) • Official internet homepage of the government: www.brasil.gov.br Canada is a member of the British Commonwealth of Nations and consists of ten provinces and three territories. Capital: Ottawa. The country is a constitutional monarchy with a bicameral parliamentary cabinet system. Although the British Queen is Canada's head of state, the Governor-General carries out many duties on her behalf and serves as the link between the Canadian and British governments. The prime minister is the head of government. About 80% of the Canadian population lives in areas close to its border with the United States. Canada is the second-largest country in the world and has a wealth of natural resources-- it has the world's second-largest oil reserves and has 10% of its fresh water • Population: 33,143,610 (as of 2008)  • Area: 9,984,670㎢  • Official language: English and French  • Local currency: Canadian dollar (CAD)  • Official internet homepage of the government: www.gc.ca China is the world's most populous country and the fourth largest in terms of land mass. Official name: People's Republic of China. Capital: Beijing. Since the 1990s, China has emerged as an economic powerhouse, having adopted reformist, open-door economic policies. Today, China is one of the world's leading exporters, exporting mainly electronics, apparel, and other manufactured goods. It has been one of the fastest-growing major economies, and is also one of the so-called BRIC countries.  • Population: about 1,334.74 million  • Area: 959,722㎢  • Official language: Chinese  • Local currency: Renminbi (CNY) • Official internet homepage of the government: www.china.org.cn France, officially known as the French Republic, is located in Western Europe between the Mediterranean Sea and the Atlantic Ocean. The capital city is Paris, well-known as the center of arts and culture. The government is based on the unitary semi-presidential system with two executive leaders; the President is the head of state and the Prime Minister carries out his role following the tradition of the Third and Fourth Republics. France is also known for various cultural attractions such as the Eiffel Tower, Arc de Triomphe, and the Palace of Versailles. President Nicolas Sarkozy's speech at the UN in 2008, which underlined the needs to establish a new international financial system that includes emerging economies, became the cornerstone of the G20 Summit.  • Population: 62.6 million (as of 2009)  • Area: 551,695㎢ (about 2.5 times larger than the Korean Peninsula)  • Official language: French • Local currency:Euro (EUR)  • Official internet homepage of the government: www.service-public.fr Germany is located in Central Europe, bordered by France, Poland, and Denmark and the North and Baltic Seas. Capital: Berlin. Official name of the country: The Federal Republic of Germany. In 1990, East and West Germany, separated in the wake of World War II, were reunited. The Federal Republic is composed of 16 states and uses a parliamentary cabinet system, with the prime minister holding power. As a nation committed to environmental issues, Germany is the world's main producer of solar power technology and wind turbines. It is Europe's largest economy and the second largest exporter of goods in the world, with automobiles, machinery, and chemicals among their leading exports. • Population: 82.13 million (as of 2009)  • Area: 357,021 ㎢  • Official language: German  • Local currency: Euro (EUR)  • Official internet homepage of the government: www.deutschland.de India is located in Southwest Asia. Official name of the country: The Indian Republic. It is the seventh largest and the second most populous country in the world. Capital: New Delhi. The country follows a parliamentary cabinet system. It is one of the so-called BRICs. The country boasts tremendous technological prowess, particularly in the information technology sector. • Population: 1,166,079,217 (as of 2009)  • Area: 3,287,782㎢  • Official language: 22 official languages, including Hindi (38.7%) and English  • Local currency: Rupee (INR)  • Official internet homepage of the government: www.india.gov.in Located in Southeast Asia, Indonesia is composed of more islands than any other country in the world. Official name of the country: The Republic of Indonesia. Capital: Jakarta. The country uses a presidential system with a five-year term of office. With Muslims comprising more than 80% of the current population, it has more Muslims than any other country in the world. Indonesia is a member of ASEAN, and has recently seen tremendous economic growth thanks to a heavy concentration in agriculture and mining.  • Population: About 230 million (as of 2009)  • Area: 1,919,440㎢  • Official language: Indonesian  • Local currency: Rupiah (IDR)  • Official internet homepage of the government: www.indonesia.go.id Italy is on a peninsula located in Southern Europe. Official name of the country: The Italian Republic. Capital: Rome. The country follows a parliamentary cabinet system. The president is elected in a joint session by the deputies, senators, and representatives of the country's 20 regions, totaling 1,010 voters. The president has the right to promulgate laws, dissolve the parliament, appoint and dismiss the prime minister and ministers, and declare war. The prime minister is appointed by the president and confirmed by the parliament. • Population: 59.9 million (as of 2009)  • Area: 301,336㎢  • Official language: Italian  • Local currency: Euro (EUR)  • Official internet homepage of the government: www.quirinale.it Japan consists of four principal islands: Hokkaido, Honshu, Shikoku, and Kyushu. Capital: Tokyo. A constitutional monarchy symbolized by the Emperor, the country follows a parliamentary cabinet system run by elected politicians who hold actual decision making power. Japan is the wealthiest country in Asia with a technologically advanced economy. In the 2000s, it initiated efforts to grow the Asian economy in cooperation with the Republic of Korea and China. Japan's natural resources are mostly minerals and fish, and the country has one of the largest fishing fleets accounting for 15% of the world's catch. With scarce energy natural resources, Japan is the largest importer of coal and natural gas and the second largest importer of oil. Japan is a member of APEC, OECD, G8, UN and WTO. • Population: 127,288,419  • Area:377,835㎢  • Official language: Japanese  • Local currency: Yen (JPY)  • Official internet homepage of the government: www.kantei.go.jp/foreign/index-e.html Mexico is located to the south of the United States. Official name of the country: The United Mexican States. Capital: Mexico City. A federal constitutional republic, the country has a strong presidential system based on the division of the legislative, executive, and judicial functions of government. In the 1980s, the country recorded rapid economic growth following neo-liberal economic reform, with an emphasis on openness, deregulation, and privatization. As the first Latin American member of the OECD, the international community has given high marks to the country's macroeconomic policies. Mexico is also a member of APEC, UNESCO, and WTO. The country displays a unique combination of ancient, medieval, and modern cultures and is the birthplace of the splendid Aztec and Mayan civilizations. Soccer is regarded as the national sport in Mexico. • Population: 49,773,145 (as of 2009)  • Area:221,336 (South Korea: 100,032)㎢ • Official language: Korean  • Local currency: Won (KRW)  • Official internet homepage of the government: www.korea.net The Republic of Korea is located on the southern half of the Korean peninsula. Capital: Seoul. It adopted a presidential system with its establishment as a democratic republic in 1948. Koreans have a strong sense of pride in their country's 5,000-year history. Despite difficulties following Korea's liberation from colonial rule in 1945 and the devastation of the Korean War, the country accomplished rapid economic growth in the 1960s and 1970s under the government's economic development policy. Korea is regarded as a model of success for developing countries, having overcome the financial crisis of 1997 and the global economic crisis in 2008. It is the first country in Asia, and the first among the emerging economies, to host a G20 Summit.  • Population: 111,211,789 (as of 2009)  • Area:1,964,375㎢  • Official language: Spanish  • Local currency: Mexican peso (MXN)  • Official internet homepage of the government: www.gob.mx/wb Russia was the central republic of the former Soviet Union. Official name of the country: The Russian Federation. Capital: Moscow. A federal semi-presidential republic. The country adopted a bicameral parliamentary system. Towards the end of 1991, the Soviet Union was dissolved under the leadership of President Mikhail Gorbachev, who pushed forward with a policy that helped bring an end to the Cold War. Russia is the largest country in the world, covering more than one-ninth of the Earth. Considered an energy superpower, the country is rich in energy resources, including natural gas and petroleum. Russia also has the largest forest reserves and its lakes contain one fourth of the world's fresh water. Taking advantage of its abundant resources, Russia has experienced rapid economic growth since the end of the dissolution of the Soviet Union. Russia is a permanent member of the United Nations Security Council, a member of the G8, the Council of Europe, the Asia-Pacific Economic Cooperation, the Shanghai Cooperation Organization, and the Eurasian Economic Community. • Population: 140,702,094 (as of 2008)  • Area:17,075,200 ㎢  • Official language: Russian  • Local currency: Ruble (RUB)  • Official internet homepage of the government: www.russia.rin.ru Saudi Arabia, the largest Arab country of the Middle East, is an Islamic absolute monarchy. Official name of the country: The Kingdom of Saudi Arabia. The King also serves as the top religious leader. Capital: Riyadh. A member of OPEC, the country has the largest petroleum reserves in the world (estimated at 264.2 billion bbl). The petrolium sector comprises roughly 80% of the budget revenues, 45% of GDP, and 90% of export earnings. Saudi Arabia became an official member of the WTO in 2005 and the government continues to promote reform through economic diversification and foreign investments. The Kingdom of Saudi is also known as the 'The Land of the Two Holy Mosques' in reference to the two holiest places in Islam, Mecca and Medina. • Population: 125.40 million (as of 2008)  • Area:2,149,690㎢  • Official language: Arabic  • Local currency: Saudi riyal (SAR)  • Official internet homepage of the government: www.saudinf.com The republic is located in the southernmost part of the continent of Africa. Administrative Capital: Pretoria; Legislative Capital: Cape Town; Judiciary Capital: Bloemfontein. The country follows a presidential system with elements of a parliamentary cabinet system. The leader of the party that wins a general election becomes the president. As the largest economy in Africa, the country accounts for a quarter of the combined GDP of the 53 sub-Saharan countries. Germany, United States, China, Japan, United Kingdom, and Spain are South Africa's primary international trading partners. Gold, diamonds, platinum, other metals and minerals, machinery and equipment, are the country's essential exports. South Africa has developed into a democracy, and proclaimed itself a "rainbow country" where diversity is respected. The country is rich in gold (the world's largest reserves), diamonds (the world's fourth largest reserves), manganese (the world's second largest reserves), chrome (the world's second largest reserves), uranium (the world's fourth largest reserves), and coal (the world's eighth largest reserves). It became the first country in Africa to host the Soccer World Cup (in 2010). South Africa is a member of the Commonwealth of Nations, Antarctic Treaty System, Group of 77, South Atlantic Peace and Cooperation Zone, Southern African Customs Union, WTO, and the IMF. • Population: 49.05 million (as of 2009) br> • Area:1,219,912㎢  • Official language: 11 languages, including English, Afrikaans, and Zulu  • Local currency:Rand (ZAR)  • Official internet homepage of the government: www.gov.za Turkey is located at the intersection of two continents, Europe and Asia. Capital: Ankara. Official name of the country: The Republic of Turkey. Thanks to its geographical location, the country displays a mixture of diverse cultures from western and eastern traditions. Turkey has a unicameral republican parliamentary democracy. The majority are Muslims, but the country follows the principle of separation between church and state. Turkey is a member of NATO. Banking, construction, home appliances, electronics, textiles, oil refining, petrochemical products, food, mining, iron, steel, machine and auto industry, and tourism constitute a large part of the country's dynamic economy. • Population: 72.56 million (as of 2009)  • Area:779,452㎢ (3.5 times as large as the Korean Peninsula)  • Official language: Turkish  • Local currency:New Turkish Lira (TRY)  • Official internet homepage of the government: www.turkiye.gov.tr The United Kingdom, officially known as the United Kingdom of Great Britain and Northern Ireland, is an island country in Northwestern Europe. The capital city is London and the political system is based on the constitutional monarchy. While Queen Elizabeth II is the symbolic head of the fifty-four independent states of the Commonwealth of Nations, the country is governed by a parliamentary cabinet system where the Prime Minister serves as the head of government. The country is highly competitive in service industries, including finance and law. It is the second largest destination of foreign direct investment after the U.S. and London is the world's second largest financial market after New York. The country hosted the London Summit in April 2009. • Population:61.8 million (as of 2009)  • Area: 244,820㎢ (1.1 times larger than the Korean Peninsula)  • Official language: English  • Local currency:Pound (GBP)  • Official internet homepage of the government: www.direct.gov.uk The United States of America is a federal republic consisting of fifty states. The capital city is Washington, D.C. and the government is composed of the legislative branch (the bicameral Congress composed of the Senate and the House of Representatives), the executive branch, and the judicial branch. The U.S. has hosted two G20 Summits, and has led the global efforts to tackle the global financial crisis. It is a multicultural nation, home to peoples of diverse ethnic and cultural heritages. The country's cultural diversity makes it highly competitive in cultural industries including entertainment and arts. The Korea-U.S. alliance, which is based on mutual trust and the common values of democracy and market economy, will develop further as a form of strategic alliance in the twenty-first century.  • Population:307.21 million (as of 2009)  • Area: 9,826,630㎢  • Official language: English  • Local currency:United States dollar (USD)  • Official internet homepage of the government: www.usa.gov The ECSC was founded by six countries in August 1952, with the aim of stimulating economic reconstruction and preventing another war in Europe. The organization was followed by the EEC and EURATOM in March 1957. In 1967, the three aformentioned organizations were integrated into the EC and then the 12-member European Union (EU), according to the terms of the 1993 Maastricht Treaty.With the addition of 10 countries (Poland, Hungary, the Czech Republic, Slovakia, Slovenia, Lithuania, Latvia, Estonia, Cyprus and Malta) in 2004 and two more countries (Bulgaria and Rumania) in 2007, the EU became a 27-member organization. In 1968, the EU created a customs union, followed by the launch of a single market in 1993, and the adoption of a single currency in 1999. Today, the EU is the largest economic bloc in the international community, accounting for more than 20% of the world's GDP. • Established in:Population:1993  • Purpose: Political and economic integration of European countries  • Member countries: 27 (as of 2010)  • Currency:Euro (used by 16 member countries as of 2010) (EUR)  • Official internet homepage of the government: www.europa.eu

History and Structure of G-20

Since the first G20 Leaders Summit two years ago in Washington
D.C., the Group of 20 nations has worked together to move the world 
beyond the financial crisis to balanced and sustainable growth.
By pursuing globally coordinated policies, the G20 helped prevent
the further collapse of the international financial system in
the wake of the United States’ subprime mortgage meltdown and
the subsequent Lehman Brothers bankruptcy, even as it laid
the groundwork for reforms that would reduce global volatility
going forward.

The success of that first meeting, held on November 15, 2008, paved the way for future summits. Among the agreements reach- ed in Washington D.C., the G20 leaders committed to strengthening policy cooperation, reforming the regulatory and supervisory framework of the world’s financial markets, improving the existing international financial institutions and avoiding protectionism.

During the next two summits, in London and Pittsburgh, the G20 continued to tackle the financial crisis, agreeing to a $5 trillion stimulus package and following through on previously made commitments. At the end of the London Summit, the final commu- niqué focused on three major subject areas: the strengthening of the financial system, funding through international financial institutions, and implementation of action plans. In the course of those meetings, the G20 firmly established itself at the center of global economic discussion.

At the third summit, held in Pittsburgh on September 24-25, 2009, the G20 was designated the premier forum for international economic cooperation, ushering in a new era of global governance. The group agreed to meet annually beginning in 2011 (the G20 is meeting twice in 2010, as leaders work to stabilize economic growth). On the agenda in Pittsburgh: reform of international financial institutions; global economy and trade growth; climate financing and energy security and financial regulatory reform. At the end of these discussions, the G20 came out with the “Framework for Strong, Sustainable and Balanced Growth,” now a lynchpin of G20 discussions.

Although the G20 leaders began meeting as a group only in the last few years, the G20 finance ministers have been meeting an- nually since 1999. That first meeting was held in the wake of the Asian Financial Crisis, when world leaders recognized the increasing interdependence of the world’s economies. Those meetings in turn had grown out of meetings coordinated by the G7 (the US, Japan, United Kingdom, France, Germany, Canada and Italy) in the years following the 1974 oil shock. The emergence of the G20 stemmed from the changing economic reality. By the end of the 1990s, emerging markets played an increasingly important part in the global financial system, and that needed to be reflected in international economic governance. Today, the G20 represents two thirds of the world’s population and nearly 88% of the world’s economy.

The G20 promotes open and constructive discussion among systemically important countries on key issues related to financial and economic policies. By enhancing cooperation and coordination, the G20 works to bring about stable and sustainable econo- mic growth across the globe.

The G20 does not have a permanent staff. The chair country supplies the secretariat for the duration of its one year term.

The position of chair country rotates between regional groups of countries each year, then the specific country to be assigned the role of chair is chosen from within that group during a series of meetings.

1. Group 1 (01.06) Canada [01) Australia (06) Saudi Arabia America
2. Group 2 (02.07) India (02) Republic of South Africa(07) Russia Turkey
3. Group 3 (03.08) Mexico (03) Brazil (08) Argentina
4. Group 4 (04.09) Germany (04) United Kingdom (09) France Italy
5. Group 5 (05.10) China (05) Republic of Korea(10) Japan Indonesia

The G20 Management Troika includes the most recent, the current and the next chair. During the years preceding and following its host year, a country holds the position of co-chair and acts as an advisor to the Troika. Troika members work closely with the chair to set the G20 agenda, frame the discussion and produce a communiqué. In addition, the co-chairs participate in meetings of G20 steering groups.

• 1999 Germany
• 2000 Canada
• 2001 Canada
• 2002 India
• 2003 Mexico
• 2004 Germany
• 2005 China
• 2006 Australia
• 2007 Republic of South Africa (2008 Troika)
• 2008 Brazil (2008 Troika 2009 Troika)
• 2009 United Kingdom (2008 Troika 2009 Troika)

G20 Seoul Summit to end 'Korea Discount'

Sakong Il chairman of Presidential Committee for the G20 Summit

For Korea, 2010 will be a milestone year as the country will be the first host and chair of the G20 Summit from the Asian region as well as from the emerging world.

The hosting of the international gathering has two key implications for Asia’s fourth largest economy. One is that the Seoul Summit will be a ceremony where Korea officially joins the league of advanced economies. The other is that Korea will upgrade its status to a “rule maker” from a “rule taker” by taking an initiative in setting the key agenda during the G20 process.

Sakong Il, chairman of the Presidential Committee for the G20 Summit, believes that the G20 Seoul Summit will give the finishing touch to the country’s decades-long efforts to become a force in the global community.

“I believe that the successful hosting of the G20 Summit will verify Korea’s elevated status in the global community by boosting its international reputation and strengthening its national brand,” Sakong said in an exclusive interview with The Korea Times on July 27. The interview was conducted ahead of the D-100, which falls today.

“I’m confident that the Summit will help upgrade the undervalued image of Korea and its products by turning ‘Korea Discount’ into ‘Korea Premium,’ which I believe will bring enormous economic benefits,” he added. He estimates that 1 percent reduction in the Korea Discount can be equivalent of producing $4.4 billion worth of added value.

The 71-year-old former finance minister believes that if the Seoul meeting comes up with meaningful outcomes, it can become a landmark in solidifying the G20 as the new premier forum for international cooperation. The significance of the November gathering has been increasing as questions are rising about the legitimacy of the G20 following the Toronto Summit.

“Since there were no meaningful deliverables in the Toronto Summit, G20 leaders have high expectations for the Seoul Summit. They expect us to bring about workable and substantive agreements on key issues, including IMF reform,” Sakong said.

“We seek to ensure that agreements made at previous meetings are followed through and that clear policy directions are set for strong, sustainable and balanced growth,” he added.

Bridging the gap

The veteran economist with a Ph.D. in economics from the University of California, Los Angles, said that with exactly 100 days to go until the Seoul Summit, the biggest challenge is to bridge the perspectives between the advanced and emerging economies on thorny issues such as redistribution of the IMF quota.

“As the chair country, we are working hard to find the middle ground between the two parties to come up with workable outcomes. But it is not easy to mediate because they have different perspectives. In addition, we also have to find ways of international organizations not feeling isolated during the process,” he said.

Sakong was confident, saying that Korea, as the first non-G7 country to chair the G20 process, is in a unique position to resolve the problem.

“As the first recipient-turned-donor country in the OECD Development Assistance Committee, Korea has an especially good understanding of the pain and agony involved in development. Korea is also a veteran of the 1997-1998 Asian financial crisis and overcame it faster than other countries,” he said.

“Korea is well placed to bridge the gap between advanced and developing nations and to provide outreach to non-G20 countries in the G20’s endeavor to enhance its legitimacy,” he added. “Korea can be particularly responsive to the 172 U.N. member countries”

In fact, he himself is traveling around to resolve the issue. In June, he flew to the U.S. to meet key U.S. policymakers to discuss the re-distribution of the IMF quota as part of efforts to persuade rich countries to give up part of their voting rights in the IMF for developing countries.

Regarding the G20 Business Summit, Sakong said that it will be the first gathering to reflect the voice of the private sector in the G20 process.

“So far, governments and central banks have played a key role in fixing the global financial system and supporting the economic recovery. Without support from the private sector, it is impossible to achieve sustainable and balanced growth,” he said.

“Around 80 CEOs from G20 countries and 20 from non-G20 nations will participate in the Seoul Business Summit and exchange views with G20 leaders,” he added. “The Business Summit is a continuous process and hence we are seeking to play a key role in institutionalizing it.”

Lets know about POSCO-India

POSCO-India Private Limited is a subsidiary of POSCO, the world’s fourth largest steel producer and one of the most competitive steel companies. POSCO signed a Memorandum of Understanding (MoU) with the Government of Orissa in June 2005, to set up a 12 MTPA green field steel plant near Paradip, Jagatsinghpur District, Orissa, with an estimated investment of USD 12 billion. The company will build a 4 million-tons per annum capacity steel plant in Orissa, during the first phase of its project , and expand the final production volume to 12 million tons per annum. POSCO-India Pvt. Ltd. was incorporated on 25th August 2005. POSCO, the parent company operates two of the world’s premier steelworks at Pohang and Gwangyang, having a combined production capacity of 31 million tons per annum (MTPA). The Pohang steelworks produces 13.5 million tons of crude steel and specializes in the production of small lots in a broad range of products, including hot-rolled coil and cold-rolled sheets, plates, wire rods, electrical steel and stainless steel. The Gwangyang works focuses on mass production of limited high-demand products such as hot and cold rolled sheets, and produces 17.5 million tons of crude steel. POSCO’s products are shipped to over 60 countries around the globe, satisfying some of the world’s most quality-sensitive customers.

POSCO, the world's fourth largest steel producer and one of the most competitive steel companies (World Steel Dynamics 2006) has contributed immensely to the rapid socio-economic development of South Korea. It started out 38 years ago with empty fields and rural fishing villages, to create today’s phenomenal steelworks. Once crushed by Japanese colonial rule, Korea began its journey towards infrastructure development and modernization in the 1960s. The need for steel led to the establishment of POSCO at Pohang in 1968, and the steel industry saw its birth in the country. Its visionary leaders and determined employees took on challenges of mythical proportions in their quest to build POSCO as a global steel maker. POSCO’s meteoric growth was paralleled by the development of Korea, as a globally competitive nation. Now firmly established as a leader in the global steel industry, POSCO is a respected industry innovator, with production bases and sales foothold across the globe. The implementation of sustainable and efficient facilities and the increase in productivity of crude steel took POSCO to the zenith of the world's steel industry in 1998. The year 1999 was witness to a total revamping of the company's overall processes in procurement, production, sales and the construction of an integrated digital system. POSCO was privatized in 2000 and since 2004 has been evaluated as a top global company with corporate transparency and a sound financial structure. POSCO CEO Ku-Taek Lee took the final decision for the POSCO-India Project. He envisioned a grand project for a giant steelworks with unlimited possibilities. Many factors were involved in this grand scheme; capital strength of POSCO, resources of Orissa, world class technological strength of POSCO and the potential of the Indian people, along with a meteoric investment of USD 12 billion. The Government of Orissa and POSCO had a series of discussions spanning over a year, and eventually chose a site near Paradip, Orissa as the place to build the steelworks. Interestingly, the topographic features like the soil and vegetation of Pohang (Korea) and Paradip (Orissa) are very comparable. The Pohang project was successfully able to rehabilitate 67,000 residents from the project site; this tremendous experience will be replicated in Orissa as well. The site near Paradip is sandy like Pohang, Korea. It also has stretches of forest like Pohang; the latest estimate says that about 2,000 people of 400 households have to be relocated from the site for the Orissa project whereas about 67,000 residents were rehabilitated for the project site in Pohang. In 2004, the final decision for POSCO's India Project was taken and both governments confirmed it on the 30th anniversary of the establishment of amity between India and Korea.  POSCO signed a Memorandum of Understanding (MoU) with the Government of Orissa in June 2005, to set up a 12 MTPA green field steel plant near Paradip, Jagatsinghpur District, Orissa, with an estimated investment of USD 12 billion. The company will build a 4 million-ton per annum capacity steel plant in Orissa, during the first phase of its project by 2011~12, and expand the final production volume to 12 million tons per annum. POSCO-India Pvt. Ltd. was incorporated on 25th August 2005 with the Registrar of Companies, Orissa, under the Companies Act 1956. POSCO-India wishes to nourish hopes and dreams for the new generation who will grow together with the development of this project. POSCO, with its rich traditional management philosophies, takes pride in practicing the world’s best employee welfare programs, and has consistently implemented this from the beginning. The plan to build a world class steelworks with annual production capacity of 12 million tons, will not only provide extensive value addition to the mineral wealth of the state, but is also anticipated to take Orissa to the pinnacle of the global steel industry. POSCO-India has three offices across India. The Corporate Head Office in Bhubaneswar, Orissa is operational since August, 2005 and looks after corporate affairs. The office in Delhi is meant for coordination at the central level. The office in Kujanga has been opened to establish a communication channel and address the concerns of the local residents in proposed area. Offices of POSCO-India       Bhubaneswar Office  POSCO-India Private Limited 5th Floor, Fortune Towers, Chandrashekharpur Bhubaneswar – 751015 Tel: 0674-2303690-94 Fax: 0674-2300058   New Delhi Office  POSCO-India Private Limited 116, Park Centra(1st Floor) Tower-B Opposite 32nd Milestone NH-8, Sector-30, Gurgaon-122001 Phone: 0124-4217140 Fax: 0124-4217142 Kujanga OfficePOSCO-India Private Limited Behind Police Station Kujang Jagatsinghpur Orissa Tel: 06722-237347-51

Quotas for KGSP(Korean Government Scholarship programme) 2011 Undergraduate

NIIED Scholars Here are the quotas of Scholarship in each country

-5 Students-
Vietnam

-4 Students-
Indonesia , Malaysia, Mongolia

-3 Students-
Cambodia, Kazakhstan, Laos, Myanmar, Philippines, Thailand

-2 Students-
Azerbaijan , Bangladesh, Colombia, Egypt, Ethiopia, Ghana, Guatemala, Kyrgyzstan,
Nepal, Russia, Pakistan, Peru, Singapore, Sri Lanka, Uzbekistan, Turkey

-1 Student-
Afghanistan, Angola, Bolivia, Brazil, Brunei, Bulgaria, Congo(DRC), Dominican Republic, East Timor, El Salvador, Gabon, Guinea Bissau, , Hungary, Iran, Japan, Kenya, Lebanon, Mauritania, Mexico, Nigeria, Panama, Paraguay, Poland, Romania, Senegal, Sweden, Tajikistan, Tanzania, Togo, Turkmenistan, Uganda, Ukraine, Yemen

* You should apply for the program ONLY THROUGH the KOREAN UNIVERSITIES [KU] if you come from the following countries;
- Brazil, East Timor, Hungary, Japan, Kenya, Nigeria, Pakistan, Poland, Romania, Tanzania, Uganda

* You should apply for the program ONLY THROUGH the KOREAN EMBASSIES (or CONSULATE) OF YOUR ORIGIN [KE] if you come from the following countries;
- Afghanistan, Angola, Bolivia, Brunei, Bulgaria, Congo (DRC), Dominican Republic,
El Salvador, Gabon, Guinea Bissau, Iran, Lebanon, Mexico, Mauritania, Panama,
Paraguay, Russia, Senegal, Sweden, Tajikistan, Togo, Turkmenistan, Ukraine, Yemen

* If you come from the other countries except above mentioned countries, you may apply for the program either through the KUs or through the KE.

Information retrieved from: niied.go.kr

Scholarships in Korea

             

The National Institute for International Education Development (NIIED)

The Korea Ministry of Education offers a scholarship program for international students from the countries that have concluded a bilateral cultural agreement. Foreign scholarship students are actively making contributions to increasing the ties and amity with Korea in the various fields such as education, officialdom, enterprises in the world. If you are interested in pursuing your Master, doctoral degree studies in Korean Studies, Humanities, Social Sciences, Natural Sciences, and other subjects in Universities in Korea, you may apply this scholarship. Please visit this site for further studies:
http://www.niied.go.kr

Samsung Global Scholarship Program (in short: Samsung GSP or GSP) is a talent program of the Korea-based Samsung conglomerate's flagship subsidiary, Samsung Electronics(SEC). Focusing on the goal of having talented personnel with strong business skills, leadership potential and career aspirations, Samsung Electronics recognized the compelling need for high-quality leaders, hence the Global Scholarship Program was created to nurture a very selectively compiled group of individuals, who later in the long run might become leaders ("Future Global Leaders") of the various Samsung Electronics subsidiaries around the world, replacing the current Korean-national management layer (what is presently the usual practice at the chaebol).

The program selects participants who demonstrate academic excellence and leadership potential and provides them with unique opportunities for further professional development. The program also provides young leaders with a unique international network through which they can share ideas, learn from established leaders, work collaboratively and address global challenges. By exposing participants to the complex issues and opportunities arising from an increasingly interdependent global economy, the program aims to expand perspectives and enhance skills critical for leadership in a changing world.

The Institute of Information Technology Advancement (IITA) is a government organization working for the Ministry of Information and Communication (South Korea) in R&D in the field of IT.

Many IT projects in Korea are funded by the IITA.

IITA Scholarship

IITA also gave scholarships to the international students studying in Korean universities for IT & Electronics majors. It is two years for masters and four years for a Ph.D. It is offered twice a year (Spring and Fall semesters). To apply for the scholarship, the students are supposed to apply directly to the universities. It covers tuition fee and all other expenses with a stipend.

The Korea Research Foundation (한국학술진흥재단) is a grant organization supported by the South Korean Ministry of Culture and Tourism. It provides support for research into newtheories for the advancement of science, the arts, and the Korean culture in general. It also supports overseas research into Korean studies. The Foundation was first established in 1981. ^[1] Its offices are located in Yeomgok-dong, Seocho-gu, Seoul.

G-20 Seoul Summit: My Expectation as an Indian Student in Korea

US President Obama discussing some Important issues with Korean President Lee Myung Bak

The G-20 leaders meeting in Seoul next month will be  hosted by  President Lee Myung Bak. Seoul will be the center of attraction for the World.Personally too, I am feeling very proud  being a foreign student  in Korea on this great  ocasion.

Being an Indian Student studying in Korea with the support of Korean Government, I see this Summit as a good  opportunity for strengthening  and betterment  of  Indo-Korean Economic Partnership in the Asian Region which I believe will further play an important role in bringing India-Korea closer in Education and Culture Diplomacy .G-20 comprise of 19 countries+ European Union  which are the most influential countries in terms of Economy  and are among the members of the United Nations too.If we  look at  these  countries in terms of their  GNP(Gross National Product) across the Globe  the G-20 economies comprise 85%of World Trade and two-thirds of the World Population .Like other Countries, India and Korea  are also expected to 

gain more ground in the G-20 as their economic output has been remarkable  over the past decades compared to the advanced countries suffering  global financial crisis up to some extent.

US President Obama discussing some Important issues with Indian Prime Minister Manmohan Singh

As far as we know that  South Korea being the most wired country in the world is seeking some offshore manufacturing bases in India being  an epicenter of software development as India is home to a plethora of low-cost, reliable IT production facilities.Apart from this  Both India and South Korea have good relations with the United States and  with the latest agreement "Comprehensive Economic Partnership Agreement (CEPA)"which is likely to wrap up almost three years and 12 rounds of negotiations to bring to fruition South Korea's first economic agreement with a BRIC (Brazil, Russia, India, China) nation.South Korea and India are co-operating each other economically  in this  way.

Moreover  Korea, known as the first Asian Tiger to successfully develop its economy  is having many similarities too with these BRICs.On the Other side The CEPA signed recently between India and Korea  also is a   window of opportunity  for India  as it has sought India  into the Northeast Asian economy. In that perspective G-20 Seoul Summit  will be a milestone for strengthening the bilateral relation of the two countries in a broader sense. 

Sanjay Kumar

Korean Govt.Scholarship Student from India.