December 20th, POSCO made a deposit of 10 billion KRW to the Community Chest of Korea, of which was gathered from its family companies as year-end charity funds to help the less fortunate.
The 10 billion KRW in funds comprises 8 billion KRW from POSCO, 500 million from Daewoo International, 400 million each from POSCO E&C and POSCO Specialty Steel, 300 million from POSCO Energy, and 200 million each from POSCO ICT and POSCO CHEMTECH. 30 employees attended the delivery ceremony, including Vice President Hwang Eunyeon, Vice Chair of the Community Chest of Korea, Lee Jaehu, and other POSCO and Community Chest personnel.
Vice President Hwang Eunyeon said, “There is a DNA of sharing and public good at POSCO. We will continue to implement a range of volunteer activities in local society and fulfill our social responsibilities as a company.”
POSCO has been donating year-end charity funds annually since its founding. The company has donated 10 billion won for the less fortunate every year together with POSCO-funded companies since 2007.
POSCO also established a ‘POSCO 1% Sharing Foundation’ this November to effectively manage donations collected through the ‘1% Sharing Campaign’( a charity program) in which employees donate 1% of their wages. To promote the sharing and donating culture, officers and senior managers of POSCO-funded companies have been voluntarily participating for the past two years, which encouraged the participation of other employees. Over 90% of POSCO employees joined the donation, and the overall participation rate of 26 POSCO-funded companies has been also increased. The company has also been donating via a matching grant.