POSCO-Mexico has actively explored solutions to the environmental challenges at Altamira Industrial Park, where there is a notable lack of green spaces. After eighteen months of dedication, the ‘With POSCO Green Forest’ initiative was inaugurated in October 2023. This project not only aims to heighten local awareness of environmental preservation but also strives to reduce air pollution. We warmly invite you to visit the ‘With POSCO Green Forest’ site, a place where life thrives, the air is purer, and a sustainable future is being carefully cultivated.

POSCO-Mexico commenced operations in December 2006 and launched its first continuous galvanizing line (CGL) at the Altamira Industrial Port in Tamaulipas in 2009. To meet increasing demand, the company enhanced its production capabilities by adding a second CGL in 2014, reinforcing its role as a key contributor to Mexico’s steel industry.

The Altamira Industrial Complex, home to POSCO-Mexico’s two hot-dip galvanized steel production facilities (CGL), serves as a center for chemical and logistics companies. This industrial activity leads to high levels of air pollutants, including sulfur oxides. Without significant green spaces to mitigate these effects, and compounded by frequent heatwaves and droughts, air pollution has become a critical social issue, posing health risks to the local population.

Committed to advancing corporate citizenship through community engagement and human resource development, POSCO-Mexico promptly acknowledged the urgent issue of air pollution. In response, the company launched a resolute effort to address it. After eighteen months of dedicated work, POSCO-Mexico reached a significant milestone in August 2023 with the establishment of the ‘With POSCO Green Forest,’ aimed at environmental improvement. We are delighted to share the journey of creating this forest with you.

Through the launch of the ‘With POSCO Green Forest’ initiative, POSCO-Mexico is set to develop a lush forest in Altamira Industrial Park, aiming to improve air quality and reduce pollution.

After thorough preliminary research, POSCO-Mexico proactively engaged stakeholders, underlining the urgent need to establish a forest. This concerted effort not only heightened awareness but also encouraged active participation. As a result, the municipal government of the involved Mexican city demonstrated its support by generously providing a 1.09-acre plot of land at no cost for the forest project, affirming the success of POSCO-Mexico’s initiatives.

POSCO-Mexico conducted extensive research on the Altamira region, the selected site for this forest, and customized the ecosystem to fit local conditions. The area’s tropical climate, marked by limited rainfall except during the rainy season from September to November, necessitated the design of an efficient irrigation system to support optimal tree growth. POSCO-Mexico cleverly tackled this challenge by integrating a tailored irrigation solution that supports the forest’s development.

POSCO-Mexico’s Sustainable initiatives feature rainwater recycling and the use of renewable solar energy. The effectiveness of these technologies led to their integration into the adjacent ‘With POSCO Smart Bus Stop’ project, which also supports the nearby forest. A rain gutter installed on the bus stop’s roof channels rainwater into a storage tank, from where it is then distributed via pipes to forest sprinklers that automatically water the trees at set intervals. This innovative system underscores POSCO-Mexico’s dedication to sustainability and environmental stewardship. Additionally, the smart bus stop, powered by solar energy and launched in 2021, offers a carbon-neutral solution that improves safety and convenience for residents, ensuring reliable bus service during extreme weather conditions.

POSCO-Mexico’s eco-conscious irrigation system has nurtured the development of a self-sustaining forest, now thriving independently. This milestone was celebrated by Mexican media with the headline, ‘Tamaulipas State, Mexico Welcomes Its First Self-Sustaining Forest.’

▲Mexican media highlighted ‘With POSCO Green Forest’ project.

POSAMI, POSCO-Mexico’s employee volunteer program, successfully implemented an Sustainable forest that utilizes rainwater recycling. Through eight planting initiatives, POSAMI has planted a total of 1,577 trees, comprising 175 oak trees and 1,402 fig trees. These species were chosen for their superior carbon absorption capabilities.

In September 2022, employees and their families participated in a tree-planting volunteer event, with children actively joining their parents in volunteer uniforms. Together, they not only planted trees but also deepened their understanding of environmental preservation. This event reinforced POSCO’s dedication to corporate citizenship and its commitment to creating a better world. In the ‘With POSCO Green Forest,’ approximately 1,577 trees, including those planted by the volunteers, have now taken root, symbolizing a beacon of hope.

The project’s success was due to a collaborative effort that involved close communication with the city government, neighboring companies, and a local university. POSCO-Mexico spearheaded the initiative by developing a comprehensive plan for the forest, designing the ecosystem, and organizing planting activities, all while actively engaging the community to garner support. The municipal government was instrumental in providing the land at no cost and facilitated the involvement of nearby companies. Six companies in the industrial park—M&G, AISTAC, Saavi, Orbia, Styropek, and Indelpro—donated resources and technologies to enhance the project’s success. Additionally, a local university contributed valuable expertise by creating aerial views of the forest and analyzing the environmental, social, and governance (ESG) financial impacts.

To recognize the collaborative efforts, flags representing the contributing companies, POSCO-Mexico, and the Altamira municipal government were raised at the site. Additionally, a promotional video detailing the creation of the ‘With POSCO Green Forest’ is showcased on municipally owned LED boards, serving as a reminder to residents about the importance of environmental protection.

Furthermore, POSCO-Mexico inscribed five brands of corporate citizenship onto the exterior walls of five rainwater harvesting tanks to promote its corporate citizenship values and enhance its visibility.

Over the next decade, the lush green forest, which includes 1,577 oak and fig trees, is expected to absorb approximately 740 tons of carbon dioxide and produce 140 tons of oxygen. These activities are estimated to generate an economic benefit of $529,100. Additionally, the forest is set to reduce the local heat island effect and lower particulate matter concentrations, significantly improving air quality in the community.

POSCO-Mexico will track ESG impacts by systematically documenting changes in carbon and oxygen levels, and will get ready for the forthcoming Mexican cap-and-trade system and the tightening of environmental regulations. Continuing its efforts to set a global standard and lead in ESG, POSCO-Mexico remains dedicated to fulfilling its community responsibilities through diverse social contribution efforts.

]]> https://newsroom.posco.com/en/posco-creates-third-gem-matching-fund-with-an-australian-supplier/ Thu, 02 Jul 2020 18:39:16 +0000 l POSCO signs a 1 to 1 matching fund with Australian iron ore supplier FMG on June 25
l A scholarship fund to support young talents in Jeollanam-do Province established as the initial project
l POSCO spreads its management philosophy, “Corporate Citizenship” through expansion of matching funds with overseas raw materials suppliers

POSCO (CEO Jeong-Woo Choi) establishes the third GEM Matching Fund with Australian iron ore supplier FMG to foster talent in local areas.
* In addition to the dictionary meaning of ‘jewel’, GEM also stands for ‘Go the Extra Mile,’ symbolizing POSCO’s efforts to build a better society.

POSCO signed an agreement to form ‘The Third GEM Matching Fund’ at the POSCO Center on June 25th. The signing was attended by Byeong-Og Yoo, the Head of POSCO’s Purchasing and Investment Division, and Man-Kyu Lim, the Chairman of the Jeollanam-do Human Resources Development Foundation. In the aftermath of COVID-19, FMG couldn’t attend but delivered a pre-made video regarding its participation in the fund.

▲ Byeong-Og Yoo, the Head of POSCO’s Purchasing and Investment Division, and Man-Kyu Lim, the Chairman of the Jeollanam-do Human Resources Development Foundation, signing the GEM Matching Fund

FMG is the fourth largest iron ore company in the world after BHP, Rio Tinto, and Vale. Jeollanam-do Human Resources Development Foundation has been running customized scholarship projects to foster local talent for 12 years.

The third fund adopts the same one-to-one matching grant scheme applied to the first and second ones as well. Under the agreement, POSCO and FMG will donate 100,000 USD every year contributing 50,000 USD each. The fund will be used for community support projects of both countries on an alternating basis. This year marks the first year of the GEM fund, and it will be donated to Jeollanam-do Human Resources Development Foundation.

Jeollanam-do Human Resources Development Foundation will use the fund to support youth and local talent in difficult conditions, and also provide winners of the National Skills Competition and academically excelling students at Meister High School with opportunities to attend overseas training programs.

Byeong-Og Yoo, the Head of POSCO’s Purchasing and Investment Division, said, “We hope that the cooperation between both companies will continue in the future. Together, we can help resolve the problems in the local communities.”

Man-Kyu Lim, the Chairman of the Jeollanam-do Human Resources Development Foundation, said, “We are grateful to POSCO for its deep interest in nurturing local talent. We will make sure that the provided scholarship fund be properly used to support youth who will grow into future leaders.”

The GEM Matching Fund, established by POSCO after the declaration of the Corporate Citizens Charter in July last year, is the first global matching fund organized with overseas raw materials suppliers. The initial fund named ‘Opal’ was created last November with Australian coal supplier Yancoal and used to provide job training for Indigenous Australians. The second fund named ‘Emerald’ was signed with U.S. supplier Xcoal in February and used in reforestation projects in Gangwon Province, which was severely damaged by wildfire.

POSCO plans to expand the matching fund program and fulfill its role as a Global Corporate Citizen.

POSCO (CEO Jeong-Woo Choi) launched the 2020 POSCO Global Good Citizen Week under the theme of “Cheer Up My Town, Remember Our Heroes.” This year’s activities initiated to commemorate the 70th anniversary of the Korean War and also to revitalize the local economy affected by the COVID-19 issue.

For the Global Good Citizen Week, POSCO employees from all around the world participated in a week-long community service event and donated their skills and talent The event aims to resolve social issues prevalent in local communities and contribute to their development.

Since 2010, POSCO has been holding Global Volunteer Week as an annual event. From this year, it has been renamed as POSCO Global Good Citizen Week, and numerous activities have been carried out in line with POSCO’s management philosophy, “Corporate Citizenship.” Through the week-long social contribution event, POSCO hopes to actively participate in resolving social issues that the global community faces today.

The 2020 POSCO Global Good Citizen Week was held for nine days from June 19 to 27. All volunteers donated their talent and skills while abiding by the COVID-19 related government policies and conducted various untact activities.

POSCO carried out campaigns to revitalize local economies, that are suffering due to the COVID-19 issue, focusing on Pohang, Gwangyang, and Incheon — the business sites of POSCO Group. Volunteers visited rural areas of each district and conducted quarantine activities and other volunteer activities, including mural projects and maintenance of agricultural machinery, for local residents. The company plans to operate COVID-19 prevention education and markets to support commodities that are much needed in countries like China, Indonesia, and Vietnam that are affected by the pandemic.

This year marks the 70th anniversary of the Korean War, and POSCO held various activities to express its gratitude to the veterans for their sublime sacrifice and dedication. Beautification activities were carried out at the memorial hall for veterans in Pohang. In Thailand, POSCO subsidiaries conducted tree-planting and clean up projects at the memorial site for Thai veterans who had participated in the Korean War, along with donating a TV for video-watching purposes.

POSCO will cooperate with the Ministry of Patriots and Veterans Affairs and provide residential environment improvement for 40 Korean War veteran families living in Pohang and Gwangyang. POSCO Talent Volunteers will participate in the project, and starting with four families on June 20, the house repair project is to be completed by October.

The partnership with SK company added to the significance of this year’s event. SK and POSCO have been cooperating to resolve social issues, and SK Chairman Tae-Won Chey had given a special lecture regarding the social contribution of the SK Group at the POSCO Corporate Citizenship Achievement Report in December last year.

On June 25, POSCO signed an agreement with SK to participate in the Happy Alliance project — a project that provides lunch boxes to children — and promote the welfare of children in blind spots. The employees of both companies participated in making and delivering lunch bags to 70 low-income and senior families in Seoul.

▲ Gwangyang Works employees working on a mural project on June 20

▲ Pohang Works employees carrying out beautification activities in the memorial hall for veterans in Pohang on June 19

▲ POSCO subsidiaries in Thailand: Tree-planting and clean-up activities at Korean War veterans memorial site

On January 31, POSCO (CEO Jeong-Woo Choi) announced its plan to deliver relief goods worth 6 million CNY (1 billion KRW) to Wuhan, China. These goods are expected to alleviate the novel coronavirus situation and help protect the health of local residents.

In consideration of the harsh local conditions in China, POSCO is to secure relief goods, such as face masks and hand sanitizers, within Korea and provide them to the affected area.

“POSCO and its overseas subsidiaries in China have decided to come together and put into practice POSCO’s management philosophy ‘Corporate Citizenship.’ POSCO will always spearhead in resolving the challenges of our society and take part as a global citizen,” said a POSCO Group official.

POSCO declared POSCO Charter of Corporate Citizenship to commemorate the first anniversary of its new management philosophy, “Corporate Citizenship: Building a Better Future Together” announced last year.

At the ceremonial event at Pohang head office today, POSCO renewed its commitment to carry out the principles – among the participants, were POSCO CEO Jeong-Woo Choi, key partners, suppliers, union leaders, and POSCO employees. The ‘POSCO Charter of Corporate Citizenship’ includes specific measures to implement corporate citizenship that seeks mutual growth and prosperity along with the community.

The Charter states, “Companies achieve lasting growth and sustainability by pursuing harmony within the society where businesses operate.” It continues, “POSCO will engage and communicate with all stakeholders including customers, employees, and shareholders, and continually seek changes and innovation in pursuit of sustainability by ultimately creating greater value for the company.”

Ahead of the announcement, the draft Charter underwent a series of comprehensive consultation, discussions, and polls amongst the Board of Directors, Corporate Citizenship Committee, and a panel of external experts.

▲ POSCO CEO Jeong-Woo Choi at the declaration ceremony of the POSCO Charter of Corporate Citizenship on July 25.

POSCO CEO Jeong-Woo Choi remarked, “As a member of the local, regional and global community, companies should look beyond profit and contribute to making the world a better place.” He continued, “With the Charter firmly in place, let us pursue mutual growth with the stakeholders involved in all our business activities and move onward and upward with our core vision – Business with POSCO, Society with POSCO, and People with POSCO.

To support the POSCO employees with a smooth transition towards the concept and the practice of corporate citizenship, the Charter provides the following principles for action: nurturing a robust business ecosystem with partners; taking the leadership in addressing community issues as well as improving its values; fostering a nurturing work environment by creating a corporate culture based on trust and creativity.

Since the establishment of its new management principle, POSCO established a new office as well as the special committee, both dedicated to Corporate Citizenship. The company also opened ‘POSCO Love Letter’ an active communication channel between the company and the community. Furthermore, it revamped the existing joint programs with SMEs and established venture funds for business start-ups. The company is also actively seeking solutions to address common community concerns such as Korea’s low birth rate.

The announcement was televised live for all POSCO employees where Su-Keun Kwak, the Chairman of the Corporate Citizenship Committee, delivered a lecture on what POSCO needs to do for the successful implementation of corporate citizenship.

Meanwhile, POSCO plans to prepare quantifiable criteria to evaluate its corporate citizenship activities and share its achievements with both internal and external stakeholders by the end of the year.

On the morning of July 27, POSCO held a shareholder meeting at the POSCO Center in Gangnam-gu, Seoul where the proposal to appoint Jeong-Woo Choi as the CEO and executive chief director was passed.

POSCO held a board of directors meeting right after the shareholder meeting where he was formally appointed, thus concluding the appointment of the 9th CEO in POSCO.

The new CEO then spoke at the inauguration ceremony at Pohang steel mill among 300 members in the audience including POSCO employees, labor-management councils, labor union representatives, executive council, chief community representatives, representatives of Pohang steel mill employees, representatives of suppliers, and suppliers’ council.

Jeong-Woo Choi, the new CEO giving his inauguration speech

The new CEO underscored the duty of ‘Corporate Citizens’ that fulfills social responsibilities, beyond the economic scope of generating profit.

He continued that POSCO which had previously pressed on vigorously for the past half-century based on the belief of achieving excellence in steelmaking should now implement strategies to pursue harmony and coexistence with society, thus proposing ‘With POSCO’ as the new management mission.

He suggested breaking new ground through Business With POSCO (pursuing mutually beneficial values with customers, suppliers, and business partners), Society With POSCO (creating a better society), and People with POSCO (creating new corporate culture through building trust and cultivating creativity).

Business With POSCO

Society With POSCO

People With POSCO

Choi additionally emphasized the significance of establishing a mature corporate culture as the new branding of POSCO, pursuing harmony as corporate citizens by suggesting detailed plans of action to implement these three major strategies— Seeking substance over formalities, execution over briefing, and profit over justification.

After the inauguration ceremony, the new CEO was then transported to the site of Pohang 2nd blast furnace to encourage field staff. Then on Monday, he visited the Gwangyang steel mill again to greet workers and exchange words of encouragement.

After the inauguration ceremony, the new CEO visits Pohang 2nd blast furnace to greet and encourage field staff.

After entering POSCO in 1983, CEO Jeong-Woo Choi took charge of key positions such as accounting, cost management, audit analysis, auditing, and planning. His work experience spans decades which includes Chief Financial Officer in 2006, Managing Director of POSCO E&C in 2008, Precision Management Managing Director in 2010, its Executive Director in 2012, Vice President of Financial Planning and Management of Daewoo International in 2014, Vice President of Daewoo International in 2015, Vice-President CFO of POSCO in 2016, President CFO in 2017, and CEO of POSCO CHEMTECH in 2018.

Ba Ria Hospital Charity Kitchen

POSCO Vietnam’s volunteer campaign, which took place in 3 areas of the Ba Ria-Vung Tau province, was carried out under the theme “Protect the Environment and Aid the Disheartened.” To this end, POSCO Vietnam employees visited Ba Ria Hospital on June 10 to congratulate its 30^th anniversary and serve food to its patients. Ba Ria Hospital has only 300 beds, but POSCO Vietnam prepared food for 700 people in order to serve not only the patients but also their relatives.

“This is the first time I’ve taken part in volunteer work in Vietnam,” said Mr. Yun Yang Su, a newly appointed general director of POSCO Vietnam. “It makes me happy to see the patients’ faces when they’re enjoying their food. I think they haven’t had anything to eat for hours,” he added.

“This is the most delicious food I’ve ever had since I was at this hospital. Thank you POSCO Vietnam so much for my full meal,” said Mrs. Tran Thi Tam, 69, a patient who lives 40km away from the hospital. Despite her old age, Mrs. Tam lives in a tattered home and labors day after day to make a living. Much of her hard-earned money goes into the treatment and medicine for her heart disease. The rest is spent on bare necessities. Because she does not have enough money, she eats much less than she should, and her health condition is getting worse day by day. Mrs. Tam was not the only one in such a plight, and POSCO Vietnam employees felt mixed emotions of joy and sadness while aiding the patients and their relatives at Ba Ria Hospital.

Community Repair Services at Chau Pha Commune

POSCO Vietnam also visited Chau Pha commune of the Tan Thanh district. The destitute commune was facing three problems: First, there weren’t any handrails in the neighborhood’s two bridges which made it dangerous for the locals to cross. Second, the rainy season was expected to arrive in the end of the month, but most houses in the neighborhood had leaky roofs. Last, several houses lacked sufficient lighting for daily activities and for the children to study.

Repairing the community was a challenge, but POSCO Vietnam faced it with unparalleled enthusiasm: In just one day, the volunteer team finished installing handrails for the two bridges, fixed the roofs of 5 houses, and installed lights in 10 houses.

“Today, the POSCO Vietnam volunteers worked over noon to finish these bridges,” said Mr. Tran Van Lam, a resident living near the bridge. “When it rains heavily, the bridges often get flooded and people can’t see anything. Now with the handrails installed, my children aren’t in danger anymore when traveling to school crossing this bridge. I thank the volunteers so much,” he said.

Apart from performing general repair work, POSCO Vietnam volunteers visited the family of Mr. Nguyen Van Phong, who suffered brain and leg injury while working in a factory. Though Mr. Phong labored all his life, his earnings were meager. After becoming disabled, he stays in bed and depends on his wife for survival. POSCO Vietnam employees promptly visited the Phong residence after hearing about Mr. Phong’s plight. They fixed the leaky roofs and concreted the walls with thick nylon in case of heavy rain. They left with promises to come back in the near future to build an adequate home for Mr. Phong and his family.

Cleaning Up Long Hai Beach – the newly discovered beach of Vung Tau City

Long Hai is a newly discovered beach at Ba Ria-Vung Tau province with beautiful transparent water which attracts thousands of tourists who come and enjoy every weekend. It would have been nice if these tourists enjoyed the beach without any environmental consequences, but the truth is that they leave a lot of garbage and waste such as plastic cans, nylon bags, and paper.

Although Long Hai is 50km away from the POSCO Vietnam office, it did not stop the enthusiastic volunteer team from jumping in to pick up the waste and garbage along the beach.

“It was so hot today, so we arrived early to collect the waste and garbage,” said Mr. Huy, POSCO-Vietnam’s manager of Training and Education Team. “Our goal was to raise awareness of protecting the environment to the local people and the tourists,” he said.

Moving Forward For a Better World

POSCO Vietnam aims to build a “POSCO Village” this year at the at the resettlement area of Tan Hoa commune in Ba Ria-Vung Tau province. Beginning in September 2014, the planned project consists of 85 houses for people in need to be built within the next two years.

For POSCO Vietnam, doing business does not simply mean generating profit. Quoting general director Yun Yang Su’s comments on corporate citizenship: Cultivating ties with the local community via practical CSR activities is equally important, making the company mature with stable growth.