JEFFERSONVILLE, Ind. (WHAS11) -- The shores of the Ohio River in Jeffersonville, Indiana will soon see more traffic. POSCO, the world’s fifth-leading steelmaker, opened its newest plant on Friday.

The company based in South Korea will be making steel to be used in the automotive industry.

A massive temporary tent resembling a trade show display welcomed dignitaries. Under the canopy, high-tech parts and displays described the products that have made POSCO a world leader. Visitors were treated to a virtual reality sky view of the plant by strapping on a pair of high-tech goggles.

Indiana Governor Eric Holcomb and executives of the company said they hope that the plant will lead other companies connected to POSCO to the Hoosier State.

The generosity of company made some new friends of war veterans and students of the local school district.

The company had already planned to spend nearly $40 million investing in the operation. Friday, they handed a $30,000 check to Jeffersonville High School which the school’s principal said will be used to update the band and percussion rooms.

"It is so fabulous,” exclaimed Principal Julie Straight. “We were just honored to be invited to play music, but to receive $30,000? It's overwhelming."

Executives also celebrated local Korean War veterans for whom the executives said they owe a great debt of gratitude. They gave medals to the veterans. The awards were made of wire used at the demilitarized zone and served a symbol of the gratitude at a time when the world watches and prays for peace on the Korean Peninsula.

Despite the uncertainty back home in South Korea, the focus in Jeffersonville was down the road and into the future.

Not only was the company focused on the future, so was Governor Holcomb who predicts other companies will invest in Indiana thanks to this development.

“That's my aim,” said Gov Holcomb, “and we're willing to go all over the world. But having POSCO’s presence here, planting a flag right here on Hoosier soil in Jeffersonville, Indiana will be a magnet.”