Bhubaneswar, Nov 22 (IANS): POSCO TJ Park Foundation, an independent and non-profit organisation fully funded and supported by South Korean steel maker Posco, Friday gave scholarships to 10 students in Odisha.

Woo-In Lee, executive vice president of the foundation, handed out the scholarships to students, five each from BPUT (Biju Patnaik University of Technology) and KIIT (Kalinga Institute of Industrial Technology) University at a function.

Each POSCO TJ Park Foundation scholarship is valued $500(Rs.31,426.40).

"The foundation aims to contribute for better society by fostering leadership for the next generation. The foundation has been focusing on developing international scholarship programmes in Asia, under the name of POSCO Asia Fellowship" Lee said.

"India is recognised worldwide for its huge pool of intellectual manpower. I strongly believe that if proper opportunity is given to these sprouting leaders, then India will achieve even higher heights in the years to come," POSCO-India deputy managing director Ho-Chan Ryu said while addressing the meritorious students.

The foundation has been rewarding individuals and organisations for extraordinary contributions in science, education and community development and philanthropy, the company said in a statement.