Back in September 2016, 28 ASEAN heads of state, education ministers and representatives of the Southeast Asian Ministers of Education Organization gathered together and committed to tackling the problem of youth without regular education. The Project for Out-of-school Children in ASEAN is a follow-up to the declaration, and it’s the first project that UNESCO is carrying out this year alongside an enterprise.

The POSCO 1% Sharing Foundation is aiming to leverage the Flexible Learning Strategies (FLS) program developed by UNESCO, to provide alternative education for the children of the underprivileged, ethnic minorities and migrants in cooperation with the education ministries of individual countries.

The 3-year project will be supported by the POSCO 1% Sharing Foundation, using the donated 1 percent of members’ salaries. The project will kickstart in Thailand, where they have the highest percentage of out-of-school children in ASEAN (7.6 percent). POSCO plans to cover 2,000 children in 4 regions (Chiang Rai, Ranong, Songkhla and Rayong) where POSCO Thainox, POSCO-TCS and POSCO-TBPC are based, and expand the project to Indonesia and Myanmar.

Jeong-sik Kwak, head of the ER Office of POSCO, and UNESCO Director-General Audrey Azoulay signing the agreement.

“I hope that this partnership with a world-class steelmaker like POSCO will become a model of providing opportunities for quality education to underprivileged children and youths,” said UNESCO Director-General Audrey Azoulay. “I hope that these activities will spread throughout the world, and everyone will make concerted efforts to make sure that the notion of out-of-school children will become a thing of the past.”

At home, one of the core focus areas of the POSCO 1% Sharing Foundation is facilitating the self-reliance of future generations. Starting this year, the foundation increased the number of people eligible to receive support from the Chinchin Rainbow project to 70. The customized career project will support 70 children of migrant families such as multicultural families and North Korean defectors. Last December, it also entered into an MOU with the Children’s Self-Reliance Support Team of Korea Human Resource Development Institute for Health & Welfare to help children transition smoothly from welfare facilities and foster homes to society.

Cover photo courtesy of UNESCO.

The recognition ceremony was hosted by the Korean Academic Society of Business Administration and Maeil Business News on October 18 at the Shilla Hotel in Seoul. It took place as a tribute to the distinguished services rendered by various enterprises and entrepreneurs that served as the driving force behind Korea, helping the country become one of the top 10 economic powers of the world.

In the enterprise category, the elected companies included: Samsung Electronics, CJ Cheil Jedang, Amore Pacific, SK Telecom, LG Chem, Hyundai Motor Company as well as POSCO. People who were inducted into the entrepreneur category included: Taejoon Park (the honorary chairman of POSCO), Inhoe Koo, Kunhee Lee, Byungchul Lee, Mongkoo Chung, Juyung Chung and Jonghyun Choi. Among the inductees, Taejoon Park is the only member who is not an enterprise owner-manager, making his achievement a unique and remarkable one.

At a time when POSCO lacked experience and technological means, Park, armed only with the conviction that “Steel is the rice of industry, and that we must make the country rich by making cheap quality steel,” erected the integrated steel mill at Yeongil bay of Pohang, which was a wasteland at the time. Living up to his motto of “I shall dedicate my short life to the eternal fatherland,” he transformed POSCO into a steel mill in 1992 that produced 21 million tons a year. Just 25 years later, he created a stable steel supply system.

Thanks to POSCO, steel-consuming industries such as the automobile, shipbuilding and construction industries, secured superior quality and cost competitiveness to become the leading enterprises of today. One story often told in Korea in industry circles involves the Chinese Community leader Deng Xiaoping. He visited the Nippon Steel Corporation in Japan in 1978 and asked the company’s chairman Yoshihiro Inayama to build a steel plant in China similar to POSCO’s. In response, the Nippon Steel chairman told Deng that “it won’t do you any good unless China has a manager as good as Taejoon Park to run it.”

This anecdote gives us an idea of Taejoon Park’s success story and his reputation as an indomitable driving force. Through his vision and dedication, the honorary chairman spearheaded POSCO’s transformation into the world’s most competitive steelmaker, and laid the foundation for Korea to become a powerhouse in the heavy and chemical industries.

POSCO and its honorary chairman Taejoon Park were elected into the ‘Korean Business Hall of Fame in the entrepreneur and enterprise categories at a ceremony held on October18 at the Shilla Hotel in Seoul. From the left, Changjo You (chairman of the Korean Academic Society of Business Administration), Daehwan Jang (chairman of Maekyung Media Group), Taehee Woo (vice minister of Trade, Commerce & Energy) and Eunyeong Hwang (the CEO of POSCO) can be seen posing for a picture at the ceremony.

“It was the entrepreneurship and can-do spirit of the founders, including the honorary chairman Taejoon Park, that made POSCO the most competitive steelmaker in the world,” said Professor Jinbae Kim of Korea University, who presented POSCO at the ceremony that day. “I sincerely hope that POSCO employees will do their best to enable the company to maintain its status as the best steelmaker in the world by taking in this spirit of entrepreneurship and engraving it in their DNA.”

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