The donated amount is equivalent to the power generated by twenty 1-megawatt wind power generators (30 percent efficiency). This certified emission reduction will be used to offset the greenhouse gas emissions generated both before and during the winter Olympics, contributing to achieving the goal of zero greenhouse gas emissions for the first time in the history of the Olympics.

The donation is especially meaningful since private corporations are contributing to a low-carbon Olympics. During the donation ceremony, which was held at the PyeongChang Organizing Committee’s office in Jung-gu, Seoul, POSCO and SK Energy donated a total of 75,321 tons of CER.

Sangpyo Kim, Vice President of Games Facilities of the Pyeongchang Organizing Committee said, “I’d like to thank corporations that feel obliged to follow the Emissions Trading Scheme and participate in the offsetting of greenhouse gas emissions for the Pyeongchang Winter Olympics.”

The donated CER was the credit purchased from Clean Development Mechanism (CDM) business approved by United Nations Framework Convention on Climate Change (UNFCC). CDM businesses are companies from developed nations that invest in clean-energy projects in developing countries and in exchange, they earn carbon credits which can be traded in international carbon markets, such as the EU. The UN is in charge of the whole process, from business registration to carbon credit certification. POSCO’s CER was donated to the Olympic Committee through CER funds operated by Korea Investment and Securities.

To reduce greenhouse gas emissions, POSCO has been focusing on △ energy efficiency improvement, △ high-efficiency steel products development and △ low carbon technology development. High-efficiency steel products, such as △ high-tensile auto steel plates, which improve fuel efficiency through lightweight car body and △low iron-loss electrical steel, which improves energy efficiency of motors and transformers, are especially contributing to the greenhouse gas emissions reduction by reducing energy at the end-user level.

Furthermore, POSCO has been raising public awareness of climate change through the operation of “POSCO Carbon Neutral Program” and disclosing POSCO’s climate change activities to related parties by publishing a carbon report (integrated to sustainability report from 2015), which is verified by a third party.

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Pohang Works, Gwangyang Works and the POSCO head office in Seoul are already familiar POSCO establishments to Koreans. But did you know that you can find more POSCO centers practically all over the world? Yes, POSCO is indeed spread out throughout the globe.

From India to China and to Australia

POSCO has three main business quarters in Dubai, Mongol, and Western Australia. Thirty-eight established companies can be found in various countries, such as POSCO China Holdings, Qingdao Pohang, POSCO Vietnam, POSCO India and POSCO Japan. Today, POSCO is expanding its influence, by building production bases in Indonesia and India. POSCO built its first integrated steel plant in Indonesia and is currently building another one in India, where we can expect a positive increase of production level. What’s more, POSCO is running fourteen manufacturing centers in fourteen Chinese cities of Zhangjiagang, Chungdo, Daeryun and Guangdong. In Australia, POSCO operates Fomax, Sutton Forest and API ore mines.

Propelling iron and steel industry, by connecting North and South America

Today, POSCO is expanding its influence as a power-supplier of iron and steel industry throughout the American continent. In North America, Mexico’s CGL factory is producing steel plates for automobiles, while in South America, investing in raw materials and preparing for integrated steel plants are actively being progressed. In addition, Bolivia is eagerly involved with Lithium development. POSCO holds offices in Rio de Janeiro, Brazil as well as six other mutual establishment companies, namely POSCO America, POSCO Canada, POSCO Uruguay, POSCO Mexico.

POSCO in Europe and Africa

POSCO has EU offices located at Dusseldorf, Germany, with affiliated associations of Prague and London substations. In addition, POSCO has four other foreign mutual establishment companies. Currently, POSCO is propelling a collaborative business of Titanium slabs in Kazakhstan. Aside from this, POSCO is also pushing ahead investment for supplying raw materials and rare gold from Mozambique, Zimbabwe, Cameroon, South Africa, Congo and other African countries.

POSCO is making a leap forward globally, growing as an elite corporation

POSCO is increasingly taking an active role throughout the world. Our future agenda includes pioneering into Russian Siberia, the three other Chinese territories (Liaoning, Heilongjiang, Jilin), the Far East, the Bering Sea, the Arctic Ocean and the polar regions and oceans to further secure a supply for raw materials and for an expansion of material production regions. On the agenda are also activities that reflect POSCO’s value on contribution to the international society. POSCO provided emergency kits for natural disasters and our student volunteer group built houses in the region. POSCO promises to become an elite corporation not only for Korea but globally as well.