CURRENT AFFAIRS

Detailed explanation-1: -Adani Group and South Korea’s largest steelmaker POSCO have signed a non-binding memorandum of understanding (MoU) to explore business opportunities in India. This includes the establishment of a green, environment-friendly integrated steel mill at Mundra, Gujarat.

Detailed explanation-2: -Adani Group and South Korea’s POSCO have signed a MoU to establish a steel mill at Mundra in Gujarat. “POSCO and the Adani Group have agreed to explore business cooperation opportunities, including the establishment of a green, environment-friendly Integrated Steel Mill at Mundra, Gujarat, as well as other businesses.

Detailed explanation-3: -Industrialist Gautam Adani-led Adani Group has signed a pact with South Korea’s POSCO to explore business opportunities in sectors like steel, renewable energy among others. Both the entities have signed a memorandum of understanding (MoU) to this effect.

Detailed explanation-4: -POSCO was launched on April 1, 1968 with a mission for national industrialization. As the first integrated steel mill in Korea, Posco has grown to produce 41 million tons of crude steel a year, and has grown to become a global business with production and sales in 53 countries in the world.