Exhibit 8.1

LIST OF CONSOLIDATED SUBSIDIARIES

The
following is a list of our consolidated subsidiaries as of December 31, 2013.



|                                                     |  |                             
|---------------------------------------------------- |  | ----------------------------
|NAME                                                 |  | JURISDICTION OFINCORPORATION
|POSCO ENGINEERING & CONSTRUCTION CO., LTD.           |  | Korea                       
|POSCO Processing&Service                             |  | Korea                       
|POSCO COATED & COLOR STEEL Co., Ltd.                 |  | Korea                       
|POSCO PLANTEC Co., Ltd.                              |  | Korea                       
|POSCO ICT                                            |  | Korea                       
|POSCO Research Institute                             |  | Korea                       
|POSMATE (former Seoung Gwang Co., Ltd.)              |  | Korea                       
|POSCO A&C                                            |  | Korea                       
|POSCO Specialty Steel Co., Ltd.                      |  | Korea                       
|POSTECH Venture Capital Co., Ltd.                    |  | Korea                       
|eNtoB Corporation                                    |  | Korea                       
|POSCO CHEMTECH                                       |  | Korea                       
|POSCO-Terminal Co., Ltd.                             |  | Korea                       
|POSCO M-TECH                                         |  | Korea                       
|POSCO ENERGY CO., LTD.                               |  | Korea                       
|Postech 2006 Energy Fund                             |  | Korea                       
|POSCO TMC Co., Ltd.                                  |  | Korea                       
|POSCO NIPPON STEEL RHF JOINT VENTURE CO., Ltd.       |  | Korea                       
|MegaAsset Co., Ltd.                                  |  | Korea                       
|POSCO Engineering CO., Ltd.                          |  | Korea                       
|Pohang SPFC Co., Ltd.                                |  | Korea                       
|POSWITH Co., Ltd.                                    |  | Korea                       
|POSCO AST                                            |  | Korea                       
|POSHIMETAL Co., Ltd.                                 |  | Korea                       
|Poscoene                                             |  | Korea                       
|POSFINE Co., Ltd.                                    |  | Korea                       
|POSCO Humans                                         |  | Korea                       
|Mapo Hibroad Parking co., Ltd.                       |  | Korea                       
|Dakos Co., Ltd.                                      |  | Korea                       
|Steel Processing and Fabricating Center Co.,LTD      |  | Korea                       
|POSCALCIUM Company, Ltd.                             |  | Korea                       
|Plant Engineering Service Technology Co., Ltd.       |  | Korea                       
|9Digit Co., Ltd.                                     |  | Korea                       
|Postech Early Stage Fund                             |  | Korea                       
|Busan E&E Co., Ltd.                                  |  | Korea                       
|POSCO Family Strategy Fund                           |  | Korea                       
|POREKA Co., Ltd.                                     |  | Korea                       
|Daewoo International Corporation                     |  | Korea                       
|POSCO LED Co., Ltd.                                  |  | Korea                       
|Gunsan SPFC Co., Ltd.                                |  | Korea                       
|Pohang Scrap Recycling Distribution Center Co., Ltd. |  | Korea                       
|PSC Energy Global Co., Ltd.                          |  | Korea                       
|Suncheon Eco Trans Co., Ltd.                         |  | Korea                       
|Reco Metal Co., Ltd.                                 |  | Korea                       
|New Altec Co., Ltd.                                  |  | Korea                       
|PONUTech Co., Ltd.                                   |  | Korea                       
|BLUE O&M Co., Ltd.                                   |  | Korea                       
|Tamra Offshore Wind Power Co., Ltd.                  |  | Korea                       



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|                                                          |  |            
|--------------------------------------------------------- |  | -----------
|POS-HiAL                                                  |  | Korea      
|MCM Korea                                                 |  | Korea      
|Tancheonene Co., Ltd.                                     |  | Korea      
|IT Engineering                                            |  | Korea      
|POSCO America Corporation                                 |  | USA        
|POSCO Australia PTY LTD                                   |  | Australia  
|POSCO Canada Ltd.                                         |  | Canada     
|POSCAN Elkveiw Coal Ltd.                                  |  | Canada     
|POSCO Asia Co., Ltd.                                      |  | Hong Kong  
|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      
|POSCO (Guangdong) Steel Co., Ltd.                         |  | China      
|POSCO (Thailand) Company Limited                          |  | 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 I, L.P.                                 |  | USA        
|PT. POSNESIA Stainless Steel Industry                     |  | Indonesia  
|POSEC Hawaii, Inc.                                        |  | USA        
|POSCO-China Qingdao Processing 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 Limited                               |  | India      
|POS-India Pune Processing Centre Pvt. Ltd.                |  | India      
|POSCO-JEPC Co., Ltd.                                      |  | Japan      
|POSCO-CFPC Co., Ltd.                                      |  | China      
|POSCO E&C CHINA Co., Ltd.                                 |  | China      
|POSCO MPPC S.A. de C.V.                                   |  | Mexico     
|Zhangjigang Pohang Port Co., Ltd.                         |  | China      
|Qingdao Pos-metal Co., Ltd.                               |  | China      
|POSCO-VIETNAM Co., Ltd.                                   |  | Vietnam    
|POSCO MEXICO S.A. de C.V.                                 |  | Mexico     
|POSCO India Delhi Steel Processing Centre Private Limited |  | India      
|POSCO-Poland Wroclaw Processing Center Sp. z o. o.        |  | Poland     
|POS-NP PTY LTD                                            |  | Australia  
|POSCO-Vietnam Processing Center Co., Ltd.                 |  | Vietnam    
|POSCO(Chongqing) Automotive Processing Center Co, Ltd.    |  | China      
|SUZHOU POSCO-CORE TECHNOLOGY CO., LTD.                    |  | China      
|POSCO-Malaysia SDN. BHD.                                  |  | Malaysia   
|POS-Minerals Corporation                                  |  | USA        
|POSCO(Wuhu) Automotive Processing Center Co., Ltd.        |  | China      
|POSCO Engineering and Construction India Private Limited  |  | India      
|POSCO E&C SMART S DE RL DE CV                             |  | Mexico     
|POSCO Philippine Manila Processing Center, Inc.           |  | Philippines
|POSCO Gulf SFC LLC                                        |  | UAE        
|Dalian POSCO ICT-DONGFANG Engineering Co., Ltd.           |  | China      



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|                                                       |  |               
|------------------------------------------------------ |  | --------------
|SANPU TRADING Co., Ltd.                                |  | China         
|Zhangjiagang BLZ Pohang International Trading          |  | China         
|POSCO MEXICO HUMAN TECH S.A. de C.V.                   |  | Mexico        
|POSCO MESDC S.A. DE C.V.                               |  | Mexico        
|POSCO-ICT China                                        |  | China         
|DWEMEX, S.A.DE.C.V.                                    |  | Mexico        
|POSCO MPC Servicios S.A. de C.V.                       |  | Mexico        
|POSCO-Uruguay S.A.                                     |  | Uruguay       
|Pos-Sea Pte Ltd                                        |  | Singapore     
|POSCO Europe Steel Distribution Center                 |  | Slovenia      
|VENTUS LIMITED                                         |  | England       
|Zeus(Cayman)                                           |  | Cayman Islands
|POSCO VST CO., LTD.                                    |  | Vietnam       
|POSCO Maharashtra Steel Private Limited                |  | India         
|POSCO India Chennai Steel Processing Centre Pvt.Ltd.   |  | India         
|POSCO TNPC Otomotiv Celik San. Ve Tic. A.S             |  | Turkey        
|POSCO Vietnam Ha Noi Processing Center Co., Ltd.       |  | Vietnam       
|POSCO(Liaoning) Automotive Processing Center Co., Ltd. |  | China         
|POSCO-Indonesia Jakarta Processing Center              |  | Indonesia     
|POSCO E&C VENEZUELA C.A.                               |  | Venezuela     
|Motta Resources Indonesia                              |  | Indonesia     
|POSCO TMC INDIA PRIVATE LIMITED                        |  | India         
|POSCO America Alabama Processing Center Co., Ltd.      |  | USA           
|PT PEN INDONESIA                                       |  | Indonesia     
|POSCO(Yantai) Automotive Processing Center Co., Ltd.   |  | China         
|POSCO India Steel Distribution Center Private Ltd.     |  | India         
|POSCO China Dalian Plate Processing Center Co., Ltd.   |  | China         
|POSCO-South Asia Company Limited                       |  | Thailand      
|POSCO SS-VINA                                          |  | Vietnam       
|POSCO-NCR Coal Ltd.                                    |  | Canada        
|POSCO WA PTY LTD                                       |  | Australia     
|POSCO Engineering and Construction  UZ                |  | Uzbekistan    
|POSCO AUSTRALIA GP PTY LIMITED                         |  | 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 (China) Co., Ltd.                               |  | China         
|DAEWOO TEXTILE FERGANA LLC                             |  | Uzbekistan    
|DAEWOO TEXTILE BUKHARA LLC                             |  | Uzbekistan    
|DAEWOO INTERNATIONAL AUSTRALIA HOLDINGS PTY LTD        |  | Australia     
|Daewoo Paper Manufacturing Co., Ltd.                   |  | China         
|Tianjin Daewoo Paper Manufacturing Co., Ltd.           |  | China         
|POSCO MAURITIUS LIMITED                                |  | Mauritius     
|PT. KRAKATAU POSCO                                     |  | Indonesia     
|Myanmar Daewoo Limited                                 |  | Myanmar       
|DAEWOO INTERNATIONAL MEXICO S.A. DE C.V.               |  | Mexico        
|Daewoo International Guangzhou Corp.                   |  | China         
|DAEWOO STC VINA LTD.                                   |  | Vietnam       
|Daewoo (M) SDN. BHD.                                   |  | Malaysia      
|Daewoo CANADA LTD.                                     |  | Canada        
|Daewoo EL SALVADOR S.A. DE C.V.                        |  | El Salvador   
|GEZIRA TANNERY CO., LTD.                               |  | Sudan         
|POSCO (Zhangjiagang) STS Processing Center Co., Ltd.   |  | China         



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|                                                                           |  |                
|-------------------------------------------------------------------------- |  | ---------------
|Daewoo International (M) SDN BHD                                           |  | Malaysia       
|Daewoo International SHANGHAI CO., LTD.                                    |  | China          
|DAEWOO POWER AND INFRA (PTY) LTD.                                          |  | South Africa   
|PGSF, L.P.                                                                 |  | USA            
|Xenesys Inc.                                                               |  | Japan          
|Daewoo International INDIA Private Ltd.                                    |  | India          
|TECHREN Solar, LLC                                                         |  | USA            
|PT. POSCO E&C INDONESIA                                                    |  | Indonesia      
|HUME COAL PTY LTD                                                          |  | Australia      
|Daewoo HANDELS GmbH                                                        |  | Germany        
|POSCO FOUNDATION                                                           |  | India          
|EPC EQUITIES LLP                                                           |  | England        
|SANTOS CMI INC CONSTRUCTION TRADING LLP                                    |  | England        
|SANTOS CMI INC. USA                                                        |  | USA            
|SANTOS CMI ENGENHARIA E CONSTRUCOES LTDA                                   |  | Brazil         
|SANTOS CMI PERU S.A.                                                       |  | Peru           
|SANTOS CMI COSTA RICA S.A.                                                 |  | Costa Rica     
|SANTOS CMI CONSTRUCCIONES S.A.                                             |  | Uruguay        
|GENTECH INTERNATIONAL INC.                                                 |  | Panama         
|EPC INVESTMENTS C.V.                                                       |  | The Netherlands
|INGENIERiA Y CONSTRUCCION HOLAND CO S.A.                                   |  | Ecuador        
|ASESORiA Y SERVICIOS EPC S.A CHILE                                         |  | Chile          
|SANTOSCMI S.A.                                                             |  | Ecuador        
|SANTOSCMI CONSTRUCCIONES DE CHILE S.A.                                     |  | Chile          
|S&K SANTOSCMI S.A. DE C.V.                                                |  | Mexico         
|COMPANIADEAUTOMATIZACION&CONTROL, GENESYS S.A.                             |  | Ecuador        
|VAUTIDAMERICAS S.A.                                                        |  | Ecuador        
|SANTOS CMI Constructions Argentina S.A.                                    |  | Argentina      
|POSCO ENGINEERING & CONSTRUCTION DO BRAZIL LTDA.                           |  | Brazil         
|POSCO Electrical Steel India Private Limited                               |  | India          
|Daewoo International Cameroon S.A.                                         |  | Cameroon       
|POSCO ASSAN TST STEEL INDUSTRY                                             |  | 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                                   |  | Brazil         
|POSCO(Dalian) IT Center Development Co., Ltd.                              |  | China          
|PT.POSCO RESOURCES INDONESIA                                               |  | Indonesia      
|PT. POSCO ICT INDONESIA                                                    |  | Indonesia      
|PT. POSCO MTECH INDONESIA                                                  |  | Indonesia      
|PT. KRAKATAU POSCO ENERGY                                                  |  | Indonesia      
|POSCO RUS LLC                                                              |  | Russia         
|POSCO Thainox Public Company Limited                                       |  | Thailand       
|DAEWOO INTERNATIONAL SHANGHAI WAIGAOQIAO CO., LTD.                         |  | China          
|PT. Bio Inti Agrindo                                                       |  | Indonesia      
|POSCO ENGINEERING AND CONSTRUCTION AUSTRALIA (POSCO E&C AUSTRALIA) PTY LTD |  | Australia      
|POSCO-TISCO (JILIN) PROCESSING CENTER Co., Ltd.                            |  | China          
|Hunchun Posco Hyundai International Logistics Complex Development Co., Ltd |  | China          
|USA-SRDC                                                                   |  | USA            
|Daewoo International Vietnam Co., Ltd.                                     |  | Vietnam        
|PT.Krakatau Posco Chemtech Calcination                                     |  | Indonesia      
|POSCO AFRICA (PROPRIETARY) LIMITED                                         |  | South Africa   
|EPC INGENIERIA & SERVICIOS DE COSTA RICA SA                                |  | Costa Rica     
|POSCO ICT BRASIL                                                           |  | Brazil         
|LA-SRDC                                                                    |  | USA            



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|                                                                     |  |          
|-------------------------------------------------------------------- |  | ---------
|DONG FANG JIN HONG                                                   |  | China    
|PRODUCTOS OFERTAS SISTEMAS Y COMERCIALIZADORA ORIENTAL S DE RL DE CV |  | Mexico   
|POSCO(Guangdong) Automotive Steel Co., Ltd.                          |  | China    
|POSCO MAPC SA DE CV                                                  |  | Mexico   
|POSCO AMERICA COMERCIALIZADORA S DE RL DE CV                         |  | Mexico   
|POSCO ENGINEERING (THAILAND) CO., LTD.                               |  | Thailand 
|POSCO YongXin Rare Earth Metal Co., Ltd.                             |  | China    
|POSCO-Mory-Maruyasu PIPE                                             |  | Japan    
|PT KRAKATAU BLUE WATER                                               |  | Indonesia
|KRAKATAU POS-CHEM DONG-SUH CHEMICA                                   |  | Indonesia
|Myanmar Daewoo International Corporation                             |  | Myanmar  
|POSCO-Italy Processing Center                                        |  | Italy    
|DAEWOO E&P CANADA CORPORATION                                        |  | Canada   
|Yingkou Puxiang Trade Co.,Ltd.                                       |  | China    
|Myanmar POSCO C&C Company, Limited.                                  |  | Myanmar  
|POSCO ICT VIETNAM                                                    |  | Vietnam  
|Daewoo Global Development. Pte., Ltd                                 |  | Myanmar  
|Myanmar POSCO Engineering&Construction Company, Limited.             |  | Myanmar  
|POSCO COATED STEEL (THAILAND) CO., LTD.                              |  | Thailand 



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