Exhibit 8.1

LIST OF CONSOLIDATED SUBSIDIARIES

The following is a list of our consolidated
subsidiaries as of December 31, 2012.



|                                                                                                                                          |  |                                   
|----------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------
|NAME                                                                                                                                      |  | JURISDICTION OFINCORPORATION      
|POSCO E&C Co., Ltd.                                                                                                                       |  | Korea                             
|POSCO P&S Co., Ltd.                                                                                                                       |  | Korea                             
|POSCO Coated & Color Steel Co., Ltd.                                                                                                      |  | Korea                             
|POSCO Plant Engineering Co., Ltd.                                                                                                         |  | Korea                             
|POSCO ICT Co., Ltd.                                                                                                                       |  | Korea                             
|POSCO Research Institute                                                                                                                  |  | Korea                             
|Seoung Gwang Co., Ltd.                                                                                                                    |  | Korea                             
|POSCO Architects & Consultants Co., Ltd.                                                                                                  |  | Korea                             
|POSCO Specialty Steel Co., Ltd.                                                                                                           |  | Korea                             
|POSTECH Venture Capital Corp.                                                                                                             |  | Korea                             
|eNtoB Co., Ltd.                                                                                                                           |  | Korea                             
|POSCO Chemtec Company Ltd.                                                                                                                |  | Korea                             
|POSCO Terminal Co., Ltd.                                                                                                                  |  | Korea                             
|POSCO M-TECH Co., Ltd.                                                                                                                    |  | Korea                             
|POSCO ENERGY Co., Ltd.                                                                                                                    |  | Korea                             
|Postech 2006 Energy Fund                                                                                                                  |  | Korea                             
|PHP Co., Ltd.                                                                                                                             |  | Korea                             
|POSCO TMC Co., Ltd.                                                                                                                       |  | Korea                             
|PNR Co., Ltd.                                                                                                                             |  | Korea                             
|Megaasset Co., Ltd.                                                                                                                       |  | Korea                             
|POSCO Engineering Company                                                                                                                 |  | Korea                             
|Pohang FuelCell Co. Ltd.
Pohang SPFC Co., Ltd. POSWITH Co.,
Ltd. BASYS INDUSTRY Co., Ltd. POSTECH
BD Newundertaking Fund POSBRO Co., Ltd. |  | KoreaKorea
Korea
Korea
Korea
Korea
|POSCO AST Co., Ltd.                                                                                                                       |  | Korea                             
|DaiMyung TMS Co., Ltd.                                                                                                                    |  | Korea                             
|POS-HiMETAL Co., Ltd.                                                                                                                     |  | Korea                             
|POSCO E&E Co., Ltd. POMIC
Co., Ltd. POSFINE Co., Ltd. POS ECO
HOUSING Co., Ltd. Mapo high broad parking Co., Ltd. Dakos Co., Ltd.         |  | KoreaKorea
Korea
Korea
Korea
Korea
|Kwang Yang SPFC Co., Ltd.
POSCALCIUM Company, Ltd. Plant Engineering
Service Technology Co., Ltd.                                         |  | KoreaKorea
Korea                  
|9Digit Co., Ltd. Postech Early
Stage Fund Busan E&E Co., Ltd.
POSCO Family Strategy Funds POREKA Co.,
Ltd. Songdo SE Co., Ltd.            |  | KoreaKorea
Korea
Korea
Korea
Korea
|Daewoo International Corporation                                                                                                          |  | Korea                             
|POSCOLED Co., Ltd. Gunsan SPFC
Co., Ltd.                                                                                                  |  | KoreaKorea                        



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|                                                                                                                                                                                                       |  |                                         
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | ----------------------------------------
|POSCO NST Co., Ltd.                                                                                                                                                                                    |  | Korea                                   
|Pohang Scrap Recycling Center Co., Ltd. PSC energy global Co., Ltd. Suncheon Ecotrans Co., Ltd.
Shinan Energy Co., Ltd. Reco Metal Co.,
Ltd. New Altec Co., Ltd. PONUTech
Co., Ltd. BLUE O&M Co., Ltd. |  | KoreaKoreaKoreaKoreaKoreaKoreaKoreaKorea
|Tamra Offshore Wind Power Co., Ltd.                                                                                                                                                                    |  | Korea                                   
|POS-HiAL                                                                                                                                                                                               |  | Korea                                   
|MCM Korea                                                                                                                                                                                              |  | Korea                                   
|Tancheon E&E                                                                                                                                                                                           |  | Korea                                   
|POSCO America Corporation                                                                                                                                                                              |  | USA                                     
|POSCO Australia Pty. Ltd.                                                                                                                                                                              |  | Australia                               
|POSCO Canada Ltd.                                                                                                                                                                                      |  | Canada                                  
|POSCAN Elkview Coal Ltd.                                                                                                                                                                               |  | Canada                                  
|POSCO Asia Co., Ltd.                                                                                                                                                                                   |  | China                                   
|Dalian POSCO Steel Co., Ltd                                                                                                                                                                            |  | China                                   
|POSCO-CTPC Co., Ltd.                                                                                                                                                                                   |  | China                                   
|POSCO-JKPC Co., Ltd.                                                                                                                                                                                   |  | Japan                                   
|International Business Center Corporation                                                                                                                                                              |  | Vietnam                                 
|POSCO E&C Vietnam Co., Ltd.                                                                                                                                                                            |  | Vietnam                                 
|Zhangjiagang Pohang Stainless Steel Co., Ltd.                                                                                                                                                          |  | China                                   
|Guangdong Pohang Coated Steel Co., Ltd.                                                                                                                                                                |  | China                                   
|POSCO (Thailand) Company Ltd.                                                                                                                                                                          |  | Thailand                                
|Myanmar POSCO Steel Co., Ltd.                                                                                                                                                                          |  | Myanmar                                 
|POSCO-JOPC Co., Ltd.                                                                                                                                                                                   |  | Japan                                   
|POSCO Investment Co., Ltd.                                                                                                                                                                             |  | Hong Kong                               
|POSCO-MKPC SDN BHD.                                                                                                                                                                                    |  | Malaysia                                
|Qingdao Pohang Stainless Steel Co., Ltd.                                                                                                                                                               |  | China                                   
|POSCO (Suzhou) Automotive Processing Center Co., Ltd.                                                                                                                                                  |  | China                                   
|POSCO BioVentures L.P. PT.
POSNESIA                                                                                                                                                                    |  | USAIndonesia                            
|POSCO E&C - Hawaii Inc.                                                                                                                                                                                |  | USA                                     
|POS-Qingdao Coil Center Co., Ltd.                                                                                                                                                                      |  | China                                   
|POS-Ore Pty. Ltd.                                                                                                                                                                                      |  | Australia                               
|POSCO-China Holding Corp.                                                                                                                                                                              |  | China                                   
|POSCO-Japan Co., Ltd.                                                                                                                                                                                  |  | Japan                                   
|POS-CD Pty. Ltd.                                                                                                                                                                                       |  | Australia                               
|POS-GC Pty. Ltd.                                                                                                                                                                                       |  | Australia                               
|POSCO-India Private Ltd.                                                                                                                                                                               |  | India                                   
|POS-India Pune Steel Processing Centre Pvt. Ltd.                                                                                                                                                       |  | India                                   
|POSCO-JEPC Co., Ltd.                                                                                                                                                                                   |  | Japan                                   
|POSCO-Foshan Steel Processing Center Co., Ltd.                                                                                                                                                         |  | China                                   
|POSCO E&C (China) Co., Ltd.                                                                                                                                                                            |  | China                                   
|POSCO MPC S.A. de C.V.                                                                                                                                                                                 |  | Mexico                                  
|Zhangjigang Pohang Port Co., Ltd.                                                                                                                                                                      |  | China                                   
|Qingdao Pujin Steel Material Co., Ltd.                                                                                                                                                                 |  | China                                   
|POSCO-Vietnam Co., Ltd.                                                                                                                                                                                |  | Vietnam                                 
|POSCO-Mexico Co., Ltd.                                                                                                                                                                                 |  | Mexico                                  
|POSCO-India Delhi Steel Processing Centre Pvt. Ltd                                                                                                                                                     |  | India                                   
|POSCO-Poland Wroclaw Steel Processing Center Co., Ltd                                                                                                                                                  |  | Poland                                  
|POS-NP Pty. Ltd.                                                                                                                                                                                       |  | Australia                               
|POSCO-Vietnam Processing Center Co., Ltd.                                                                                                                                                              |  | Vietnam                                 
|POSCO (Chongqing) Automotive Processing Center Co, Ltd.                                                                                                                                                |  | China                                   



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|                                                                                                                                                                                                                                                                     |  |                                                                             
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------
|Suzhou POS-CORE Technology Co., Ltd.                                                                                                                                                                                                                                 |  | China                                                                       
|POSCO-JYPC Co., Ltd.                                                                                                                                                                                                                                                 |  | Japan                                                                       
|POSCO-Malaysia SDN. BHD.                                                                                                                                                                                                                                             |  | Malaysia                                                                    
|POS-Minerals Corporation                                                                                                                                                                                                                                             |  | USA                                                                         
|POSCO (Wuhu) Automotive Processing Center Co., Ltd. POSCO E&C India Private Ltd. POSCO E&C SMART                                                                                                                                                                     |  | China India Mexico                                                          
|POSCO-Philippine Manila Processing Center Inc. POS-GSFC LLC Dalian POSCON Dongbang Automatic Co., Ltd.
SANPU TRADING CO., LTD. Zhangjiagang BLZ Pohang
International Trading Co., Ltd. POSCO Mexico Human Tech.                                                      |  | Philippines United Arab Emirates China
China
China
Mexico                   
|POSCO Mexico East Steel Distribution Center Co., Ltd POSCO ICT-China DWEMEX S.A.DE C.V. POS MPC Servicios de C.V. POSCO-URUGUAY S.A.
POSCO South East Asia Pte. Ltd. Europe Steel
Distribution Center VECTUS Ltd. Zeus
(Cayman)                                      |  | Mexico China Mexico Mexico Uruguay
Singapore
Slovenia
England
Cayman Islands
|POSCO VST Co., Ltd.                                                                                                                                                                                                                                                  |  | Vietnam                                                                     
|POSCO Maharashtra Steel Pvt. Ltd.                                                                                                                                                                                                                                    |  | India                                                                       
|POSCO India Chennai Steel Processing Centre Pvt. Ltd.                                                                                                                                                                                                                |  | India                                                                       
|POSCO Turkey Nilufer Processing Center Co., Ltd.                                                                                                                                                                                                                     |  | Turkey                                                                      
|POSCO Vietnam Ha Noi Processing Center Co., Ltd.                                                                                                                                                                                                                     |  | Vietnam                                                                     
|POSCO (Liaoning) Automotive Processing Center Co., Ltd.                                                                                                                                                                                                              |  | China                                                                       
|POSCO-Indonesia Jakarta Processing Center POSCO E&C Venezuela C.A. PT. MRI POSCORE-INDIA POSCO America Alabama Processing Center Co., Ltd.
PT DEC Indonesia POSCO (Yantai) Automotive
Processing Center Co., Ltd. POSCO India Steel Distribution Centre Private Ltd. |  | Indonesia Venezuela Indonesia
India
USA
Indonesia
China
India               
|POSCO China Dalian Plate Processing Center Co., Ltd. POSCO-South Asia Co., Ltd. POSCO SS-VINA Co., LTD                                                                                                                                                               |  | China Thailand Vietnam                                                      
|POSCO-NCR Coal Ltd.                                                                                                                                                                                                                                                  |  | Canada                                                                      
|POSCO WA Pty. Ltd. POSCO
E&C - UZ POSCO Australia GP Limited                                                                                                                                                                                                         |  | Australia Uzbekistan Australia                                              
|Daewoo International America Corp.                                                                                                                                                                                                                                   |  | USA                                                                         
|Daewoo International Deutschland GmbH                                                                                                                                                                                                                                |  | Germany                                                                     
|Daewoo International Japan Corp.                                                                                                                                                                                                                                     |  | Japan                                                                       
|Daewoo International Singapore Pte. Ltd.                                                                                                                                                                                                                             |  | Singapore                                                                   
|Daewoo Italia S.r.l.                                                                                                                                                                                                                                                 |  | Italy                                                                       
|Daewoo Cement (Shandong) Co., Ltd.                                                                                                                                                                                                                                   |  | China                                                                       
|Daewoo (China) Co., Ltd.                                                                                                                                                                                                                                             |  | China                                                                       
|PT. RISMAR Daewoo Apparel                                                                                                                                                                                                                                            |  | Indonesia                                                                   
|Daewoo Textile Fergana LLC                                                                                                                                                                                                                                           |  | Uzbekistan                                                                  
|Daewoo Textile Bukhara LLC                                                                                                                                                                                                                                           |  | Uzbekistan                                                                  
|Daewoo International Australia Holdings Pty. Ltd.                                                                                                                                                                                                                    |  | Australia                                                                   
|Daewoo Paper Manufacturing Co., Ltd.                                                                                                                                                                                                                                 |  | China                                                                       



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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                                                                                                                                                                                                     
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Tianjin Daewoo. Paper Co., Ltd                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  | China                                                                                                                                                                                                               
|POSCO Mauritius Ltd. PT.
KRAKATAU POSCO MYANMAR Daewoo LTD.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  | MauritiusIndonesia
Myanmar                                                                                                                                                                                          
|Daewoo International MEXICO S.A. de C.V. Daewoo International Guangzhou Corp. Daewoo Energy Central Asia
Daewoo STC (& Apparel) Vietnam Ltd. MYANMAR
Daewoo International Ltd. DAYTEK ELECTRONICS CORP. Daewoo (M) SDN. BHD. Daewoo CANADA LTD. Daewoo EL SALVADOR S.A. DE C.V. GEZIRA TANNERY Co., LTD.
POSCO (Zhangjiagang) Stainless Steel Processing Center Co., Ltd. Daewoo International Corporation (M) SDN BHD Daewoo International SHANGHAI CO., LTD.
PGSF, LLC                                                                                                                                                                                                                                                                                                                                                                        |  | MexicoChina
Uzbekistan
Vietnam
Myanmar
Canada
Malaysia
Canada El
Salvador Sudan China Malaysia
China
USA                                                                                                            
|Xenesys Inc. Daewoo
International INDIA Private Ltd. TECHREN Solar, LLC PT. POSCO E&C Indonesia Hume Coal Pty. Ltd.
Daewoo HANDLES GmbH POSCO Foundation
EPC EQUITIES LLP SANTOS CMI Construction Trading
LLP SANTOS CMI INC. USA SANTOS CMI
ENGENHARIA E CONSTRUCOES LTDA SANTOS CMI PERU S.A. SANTOS CMI COSTA RICA S.A. SANTOS CMI CONSTRUCCIONES S.A. (URUGUAY)
GENTECH International INC. EPC INVESTMENTS
C.V. INGENIERiA Y CONSTRUCCION HOLAND CO S.A. ASESORiA Y SERVICIOS EPC S.A CHILE SANTOS CMI S.A.
SANTOS CMI CONSTRUCCIONES DE CHILE S.A. S&K
-SANTOS CMI S.A. DE C.V.(MEXICO) COMPANIA DE AUTOMATIZACION & CONTROL, GENESYS S.A. VAUTIDAMERICAS S.A. SANTOS CMI Constructions Argentina S.A.
POSCO E&C Brazil Ltd. POSCO Electrical Steel
India Private Limited Daewoo International Cameroon PLC POSCO ASSAN TST STEEL Industry |  | JapanIndia
USA
Indonesia
Australia
Germany
India
England
England
USA
Brazil
Peru Costa
Rica Uruguay Panama The Netherlands
Ecuador
Chile
Ecuador
Chile
Mexico
Ecuador
Ecuador
Argentina
Brazil
India
Cameroon
Turkey
|HONG KONG POSCO E&C (CHINA) Investment Co., Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | Hong Kong                                                                                                                                                                                                           
|POSCO Klappan Coal Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  | Canada                                                                                                                                                                                                              
|DAESAN (Cambodia) Co., Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  | Cambodia                                                                                                                                                                                                            
|Brazil Sao Paulo Steel Processing Center Co., Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  | Brazil                                                                                                                                                                                                              
|POSCO(Dalian) IT Center Development Co., Ltd.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  | China                                                                                                                                                                                                               
|PT.POSCO Resources Indonesia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  | Indonesia                                                                                                                                                                                                           
|PT. POSCO ICT Indonesia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  | Indonesia                                                                                                                                                                                                           
|PT. POSCO M-Tech Indonesia                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | Indonesia                                                                                                                                                                                                           
|PT. KRAKATAU POSCOPOWER                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  | Indonesia                                                                                                                                                                                                           
|POSCO RUS LLC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  | Russia                                                                                                                                                                                                              



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|                                                                                      |  |             
|------------------------------------------------------------------------------------- |  | ------------
|POSCO-Thainox Public Company Limited.                                                 |  | Thailand    
|Daewoo International Shanghai Waigaoqiao Co., Ltd.                                    |  | China       
|PT. Bio Inti Agrindo                                                                  |  | Indonesia   
|POSCO E&C Australia Pty Ltd.                                                          |  | Australia   
|POSCO-TISCO (Jilin) Processing Center Co., Ltd.                                       |  | China       
|Hunchun POSCO Logistics Co., Ltd.                                                     |  | China       
|USA SRDC Corporation                                                                  |  | USA         
|Daewoo International Vietnam Co., Ltd.                                                |  | Vietnam     
|PT. Krakatau POSCO Chemtech Calcination                                               |  | Indonesia   
|POSCO-Africa                                                                          |  | South Africa
|E.P.C. INGENIERIA & SERVICIOS DE COSTA RICA S. A.                                     |  | Costa Rica  
|POSCO ICT BRASIL                                                                      |  | Brazil      
|PARTICIPACOES LA-SCRAP RECYCLING DISTRIBUTION CENTER, LLC.                            |  | USA         
|EEC, GmbH                                                                             |  | Germany     
|Posco Center Beijing                                                                  |  | China       
|POSCO AMERICA COMERCIALIZADORA S DE RL DE C.V.                                        |  | Mexico      
|POSCO AMERICA PRODUCTOS, OFERTAS, SISTEMAS YCOMERCIALIZADORA ORIENTAL S DE RL DE C.V. |  | Mexico      
|Guangdong Pohang Car Steel Co., Ltd.                                                  |  | China       
|POSCO Mexico Aguascalientes Processing Center Co., Ltd.                               |  | Mexico      



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