On the same day, the company completed construction of a palm oil refinery on East Kalimantan Island with an annual capacity of 500,000 tons, in partnership with GS Caltex

Since Chairman Jang In-Hwa took office, the group has accelerated efforts to secure future growth businesses while also contributing to strengthening national food security

POSCO INTERNATIONAL has completed a full value chain in its palm oil business—from palm seed development to producing palm oil for biofuel feedstock—by acquiring Sampoerna Agro, one of Indonesia’s leading palm companies, and inaugurating a new palm oil refinery in the country on the same day.

▲ Panoramic view of the Sampoerna Agro palm plantation in Indonesia, acquired by POSCO INTERNATIONAL

On November 19, POSCO INTERNATIONAL acquired shares in the Indonesian listed company Sampoerna Agro, securing management control and becoming its largest shareholder. Intended to expand its global palm business value chain, the investment for this acquisition is estimated at approximately KRW 1.3 trillion, based on the exchange rate at the time of disclosure.

Through this acquisition, POSCO INTERNATIONAL has added 128,000 hectares of plantations, which is more than double the size of Seoul, and now possesses a total global farming base of 150,000 hectares, including its existing plantations in Papua, Indonesia.

As a leading Indonesia-listed company, Sampoerna Agro operates palm plantations across Sumatra and Kalimantan islands, owning a palm seed subsidiary and research institute that rank second in domestic market share in Indonesia.

What is noticeable about the newly acquired plantations is that stable profits can be generated from the very beginning of the acquisition since the palm trees have already reached maturity. The palm plantation business is a long-term, high-return industry, as harvesting becomes possible three to four years after planting and production continues for over 20 years.

POSCO INTERNATIONAL began developing palm plantations in Papua in 2011, entered commercial production in 2016, and now operates three milling plants that produce 210,000 tons of palm oil annually. As the existing plantations have reached maturity, they have made a significant contribution to the group’s profitability, recording an average operating profit margin of 36% through last year.

On the same day, POSCO INTERNATIONAL held the completion ceremony for PT. ARC (PT. AGPA Refinery Complex), a palm oil refining joint venture established with GS Caltex in Balikpapan, East Kalimantan, Indonesia.

PT. ARC is owned 60% by POSCO INTERNATIONAL and 40% by GS Caltex, with a total investment of USD 210 million. The newly completed refinery has an annual refining capacity of 500,000 tons, equivalent to approximately 80% of Korea’s annual imports of refined palm oil.

▲ Group photo of key attendees at the inauguration ceremony of the East Kalimantan refining plant on the 19th. (From fourth left): Chun Seong-Rae, Head of Business Synergy at POSCO Holdings; Lee Seung-Hoon, Head of Supply & Trading at GS Caltex; Heo Se-Hong, GS Caltex CEO; Lee Kye-In, POSCO INTERNATIONAL CEO; Park Soo-Deok, Mayor of Balikpapan Rahmad Mas’ud, and Korean Ambassador to Indonesia; Moon Jin-Seok, Vice Chairman of KORINDO Group.

The ceremony was attended by approximately 100 key figures, including POSCO INTERNATIONAL CEO Lee Kye-In, GS Caltex CEO Heo Se-Hong, Indonesian Deputy Minister of Energy and Mineral Resources Yuliot Tanjung, Mayor of Balikpapan Rahmad Mas’ud, and Korean Ambassador to Indonesia Park Soo-Deok. The refinery, which broke ground in May last year and has now been completed, will undergo trial operations and is scheduled to begin full production later this year.

POSCO INTERNATIONAL will supply crude palm oil produced from its plantations to PT. ARC, and the refined oil produced there will be sold both in the Indonesian domestic market and exported to South Korea, China, and other countries. GS Caltex plans to leverage its accumulated expertise to enhance the operational efficiency of the refining facilities and supply refined palm oil for biodiesel to the Korean market.

Going forward, the POSCO Group is expected to strengthen its competitive edge in the global palm oil market, helping to reduce Korea’s reliance on imported edible oils and establish a stable production and supply base for palm oil for enhanced national food security.

Since Chairman Jang In-Hwa took office, the POSCO Group has been actively seeking future growth businesses for stable generation of profits. The strengthening of the Indonesian palm oil business is part of the group’s broader infrastructure initiatives, supported by POSCO INTERNATIONAL’s extensive experience in overseas agro business.

Meanwhile, to bolster future competitiveness, the POSCO Group restructured its business portfolio last year into “Two Core (steel + secondary battery materials) + New Engine (new growth businesses)” and is executing strategic investments to preempt high-growth, high-return markets such as India and North America. In India, the group is pursuing the establishment of a local steel mill in partnership with the JSW Group. In September, to proactively respond to trade barriers and accelerate its entry into the North American market, it signed an MOU with Cleveland-Cliffs for cooperation in the steel business.

The 2024 Global Volunteer Week, POSCO’s special volunteer service event, was held from May 23 to 31. More than 20,000 POSCO employees in Korea and other countries participated in large-scale volunteer work to practice sharing. POSCO Newsroom has taken vivid photos of the volunteer activities carried out by overseas subsidiary employees worldwide. Let’s meet them!

▲ POSCO-ZPSS employees carried out various volunteer activities to celebrate Global Volunteer Week. They held a bazaar in the cafeteria and in front of the parking lot and donated a total of 16,000 yuan to special schools and families in need. They also visited Jin Xiu School in Zhangjiagang City to provide a voluntary service of taking graduation photos for about 300 students from low-income families and donated sportswear and sneakers to the women’s volleyball team players.

▲ POSCO-QPSS employees participated in the “Love Sharing Blood Donation” event hosted by the Qingdao City Blood Donation Center and held a charity bazaar with donated goods from 48 employees in the office building’s first-floor lobby. They donated a total of 1,779 yuan to the underprivileged.

▲ POSCO-Asia (Hong Kong) employees visited a local support group for underprivileged children and donated the future generation support funds raised through the 1% Sharing activities and participated in Food Angel volunteer work to make about 2,500 lunch boxes to distribute to neighbors.

▲Twelve employees of BX Steel POSCO Cold Rolled Sheet Co. visited the Korean-Chinese Middle School in Benxi and held an art contest with the theme “Waste sorting for environmental protection starts with me” as part of an eco-friendly knowledge learning class and awarded excellent works.

▲ POSCO-CSPC employees visited the Children’s Love Center, which was newly established by the Hua Qiao Government to help special children live a safe and convenient life, and provided various learning aids for children to use. They also placed air-purifying plants throughout the children’s center to create a pleasant indoor environment.

▲ POSCO-CCPC employees carried out an environmental cleanup at the Yulin river’s Long Xing Estuary near the company’s head office and collected waste by going around approximately 2 kilometers near the river road for two hours.

▲ POSCO-CDPC employees held a handmade craft event with clay drawings with children at a Hong Yan daycare center near the company’s head office.

▲ POSCO-CFPC employees held a Healing Summer event by inviting families of the disabled. They invited the families of the disabled to the Guangdong Industrial Design Complex and ran a program where the visitors could experience Guangdong Province’s industrial development and POSCO’s corporate culture.

▲ POSCO-CHPC employees visited a Wuhan Yi De senior welfare center, where they have been carrying out volunteer services for 9 years, and spent time with the seniors making zongzi, a traditional food for the Dragon Boat Festival.

▲ POSCO-CJPC employees visited a Jilin Chao Yang special school near the head office, laid out safety mats so that the children could rest comfortably and provided snacks.

▲ POSCO-CLPC employees donated five electric nursing beds to vulnerable groups living near the factory with donations collected through 1% Sharing activities.

▲ POSCO-CQPC employees visited the Qing Yu Village, a sister village that was having difficulties with timely harvesting due to a shortage of workers, helped the village people to harvest and package cherries, and donated the cherries to a local senior center.

▲ POSCO-CTPC employees collected 309 sets of old clothes that they no longer used and donated them to a public interest collection platform.

▲ POSCO-CWPC employees carried out activities to remove weeds from the factory’s idle site.

▲ POSCO-CYPC employees visited the beach in downtown Yantai, where many tourists go in the summer, and carried out environmental cleanup activities to pick up trash and put its ESG management philosophy into practice.

▲ POSCO-Japan PC employees carried out environmental cleanup activities for five days in the Toyohashi Sports Complex near the factory, the fishing park in the Yokkaichi Kasumigaura Industrial Complex, the area around the Kawasaki factory, and the vicinity of Higashi Ogishima West Park.

▲ POSCO-PMPC employees cleaned the roads and sewers to prevent flooding that may occur during typhoons and the rainy season in the First Philippine Industrial Park where the company is located.

▲ POSCO-Malaysia employees performed environmental cleanup at community halls and kindergartens near the company by trimming grass, painting old goalposts, cleaning the inside and outside of buildings, and collecting waste.

▲ All POSCO-MKPC’s Klang Factory employees walked a 2-kilometer path between the Klang Factory entrance and surrounding villages to collect waste to participate in the “Zero Disposable Plastic” waste reduction campaign.

▲ About 30 employees of PY NIVA (POSCO YAMATO VINA) purchased paint supplies using funds raised through the 1% Sharing program, repainted tables and chairs they previously donated to an elementary school near the company, and delivered scholarships of 10 million dong to students in need.

▲ POSCO-VST’s 130 employees went around the company to collect roadside trash and provided a fun time by holding a charity bazaar and traditional game competition at a nearby elementary school.

▲ POSCO-Vietnam’s 90 employees visited two orphanages near the company’s head office and had a good time with the children by distributing snacks and school supplies.

▲ POSCO E&C Vietnam employees visited Phuc Lam Orphanage Center and donated daily necessities, school supplies, and a support fund of about 1.6 million won to instill hope in children for the future.

▲ POSCO-Thailand PC’s 67 employees carried out the protection of the maritime ecosystem jointly with the Chonburi Province Coral Preservation Foundation by planting coral seedlings in the sea. Their activities were introduced in detail on the Foundation’s SNS.

▲ POSCO-TCS employees visited nearby Banpusai Elementary School, donated shoe racks and created a vegetable garden. Moreover, they replaced toilets and lighting in old bathrooms and provided education on safety and hygiene to the students.

▲ POSCO-Thainox employees cleaned pedestrian paths near the local municipality office, cleaned drains in preparation for the rainy season, and visited welfare centers for children and people with disabilities to donate daily necessities and carry out activities such as ceiling repair and restroom maintenance. Moreover, they donated relief supplies to nearby emergency rescue teams and self-made bulletproof panels in bulletproof vests to police stations.

▲ POSCO-ISDC’s employees visited a nearby school in Mangao, donated educational TVs and water dispensers, provided English lessons for students, and planted eco-friendly mango trees with the children.

▲ POSCO-Maharashtra employees visited a welfare center for visually impaired students and donated various items, including food and school supplies, to help students grow up in a good environment.

▲ POSCO-IDPC’s employess donated 30 barricades for traffic control to the Casola Police Station in the region. Moreover, they participated in the Indian government’s “Clean India Vision Campaign” by picking up trash and cleaning roads near the office.

▲ POSCO-IAPC employees walked around the roadside in front of the center, picked up discarded trash, and planted seedlings, contributing to creating a pleasant community environment.

▲ POSCO-ICPC collected trash around drainage ditches and removed steel items such as bolts from roads to prepare for heavy monsoon rains and safety accidents around the Chennai Center. In addition, to increase the convenience of nearby residents, the area was cleaned up with pedestrian roads and maintenance.

▲ Fifty employees of POSCO-India Pune Processing Center (IPPC) planted 500 fruit tree seedlings, such as guava, custard apple, and sapota, at Lake Talegaon Dabhade near the company.

▲ POSCO-IJPC’s 28 employees visited a nearby nursing home to celebrate Family Day in Indonesia, prepared chicken porridge and drinks for senior adults, and made and installed handrails in the front yard and walking path.

▲ PT. Krakatau POSCO employees visited a local school for the disabled, built a garden, repainted oil painting, and cooperated with the Ministry of Oceans and Fisheries to build an artificial fish reef at Ketapang Beach and clean up the shore. Furthermore, they participated in a blood donation event, delivering 221 blood bags to the Red Cross. They also conducted environmental cleanup activities at five local landmarks with military units and municipal officials from the Cilegon area.

In Part 2 of ‘2024 Global Volunteer Week’ overseas employee volunteer activities,
Overseas corporations in Turkey, Poland, the United States, etc.
Lively volunteer activities participated by POSCO International executives and employees
We will report on the scene. Thank you for your interest!

Reflects Positive Evaluation from Global Investors on Stable Profitability and Strategic Importance within the Group

$300 Million in 3-Year Bonds and $400 Million in 5-Year Bonds with an Interest Rate of 6.375%, Totaling $700 Million

POSCO’s Indonesian joint venture, PT Krakatau POSCO, successfully issued global bonds totaling $700 million on May 30. The dual-tranche bonds consist of $300 million with a 3-year maturity and $400 million with a 5-year maturity. This marks the first instance of a POSCO Group affiliate issuing global public bonds based on its own credit rating, independent of POSCO. The bonds have an interest rate of 6.375% for both maturities, and the funds raised will be used to repay existing debt.

* Dual-tranche: Issuing two bonds simultaneously with different maturities or interest terms.

PT Krakatau POSCO is an integrated steel mill jointly formed by POSCO and Indonesia’s state-owned steel company, Krakatau Steel, in 2010. It currently operates one blast furnace with a production capacity of 3 million tons, along with hot rolling and heavy plate mills. The successful bond issuance by a local steel company in Southeast Asia, a region with relatively high country risk, is attributed to stable performance and the strategic importance of the project in the group’s overseas operations.

PT Krakatau POSCO has reported operating profits for three consecutive years, making it the third most significant entity in the group following POSCO International. On May 17, the international credit rating agency Standard & Poor’s (S&P) said in a report, “PT Krakatau POSCO is expected to maintain a solid market position and stable profitability in Indonesia. Considering its substantial role and investment scale in the group’s overseas operations, it is deemed a strategically important subsidiary.” S&P assigned a BBB- (stable) credit rating to its unsecured U.S. dollar bonds.

These points were emphasized during global investor presentations for the bond issuance. PT Krakatau POSCO announced its intention to issue global bonds in the Asian market on May 17, and began investor recruitment. From May 20, investor presentations were held in Singapore, Hong Kong, and London. POSCO, the parent company, also participated in these presentations to support PT Krakatau POSCO.

Ultimately, the bond issuance attracted 191 global institutional investors, with orders amounting to approximately $4.9 billion, nearly seven times the final offering amount. As a result, 80% of the bonds were allocated to Asian investors, while European and Middle Eastern investors received 20%.

▲ Click the image and find out more about POSCO overseas affiliates.

However, with closed borders and flights canceled, how could POSCO deliver face masks to its overseas subsidiaries? POSCO Newsroom looked into the details of this seemingly impossible mission.

CASE1. Indonesia
POSCO Group shipped 100,000 USD worth of COVID-19 test kits and relief supplies as well as 900,000 USD worth of face masks to Indonesia where PT.Krakatau POSCO (PT.KP) is located. The supplies helped in quarantine activities carried out by local communities and governments. The employees at PT.KP joined forces and took preventive measures against the COVID-19. As a result, PT.KP was able to continuously operate its plant without closing its facilities at all.

Irfan Afandi, the chairman of the labor union of PT.KP, expressed his thanks to POSCO CEO Jeong-Woo Choi through a letter describing how the face masks from the headquarter were well-distributed to all PT.KP employees and also to partner companies. He on behalf of all employees at PT.KP, also mentioned that all employees were deeply moved because the company supplied masks for their family members as well.

▲ The letter from Irfan Afandi (the chairman of the labor union of PT.KP)

Other than PT.KP, there are a total of nine POSCO Group companies expanding their businesses in Indonesia, including POSCO International’s PT. Bio Inti Agrindo (Palm oil farm) and PT.POSCO-Indonesia Inti (PT.PII), a Jakarta-based trading company.

The first death from COVID-19 in Brazil occurred in March. At that time, POSCO headquarters in Korea had already decided to provide face masks to all employees working at local business entities, business partners, and contractors, as well as all of their family members, and was striving to secure the supplies.

CASE2. Brazil
Must reach faster than the virus!
The first death from COVID-19 in Brazil occurred in March. At that time, POSCO headquarters in Korea had already decided to provide face masks to all employees and families, including group companies, partners, and joint ventures, as well as overseas subsidiaries, and was focusing on securing the supplies.

It was a race against time. With COVID-19 spreading rapidly since the beginning of April, acquiring new face masks was a difficult task, and employees in Brazil were using disposable masks for a week. While POSCO and POSCO ICT run offices in Rio de Janeiro and Sao Paulo respectively, many employees from POSCO, POSCO E&C, and POSCO ICT are working at CSP(Companhia Siderúrgica do Pecém), a joint steel company in Brazil. POSCO secured more than 10,000 face masks for all employees and their family members including those from Dongkuk Steel, a business partner in CSP, and shipped them via air on April 14.

The masks arrived at Miami Airport, U.S. on April 15, but faced another challenge. All flights to Brazil had been canceled. POSCO decided to deliver them by land transport — traveling 14.887 km from Miami to Fortaleza, Brazil.

Transporting 14,887 km: from Miami to Fortaleza
To safely transport the mask, POSCO quickly contacted the most reliable company in the region. The specially packed face masks traveled through Miami, Panama, and Colombia, and reached its final destination, Fortaleza. After going through three days of the complicated customs clearance process, they were finally handed over to CSP on April 25. Three days after the arrival of the masks, the number of deaths in Brazil reached 5,000 and exceeded 10,000 on May 9. As of June 2, the toll stands at 30,000.

A CSP employee, who received the mask, expressed his gratitude on PBN, POSCO’s internal broadcasting station. “We appreciate all the efforts POSCO has put into providing the face masks — not just for the employees but also for the whole family.”, he said.

CASE3. India
New confirmed case occurs at airport customs, delivery delayed for 15 days.
In India, strong preventive measures were being taken due to the spread of COVID-19, including the closure of the country. In fact economic activity was paralyzed across the country. The number of airline flights decreased dramatically, including road closures, making it difficult to secure flights. POSCO managed to secure a flight but faced another challenge — customs. The multi-use face masks needed a guarantee from the local government, stating that they were relief goods. POSCO resolved the issue by closely cooperating with the customs and local government. Just when all seemed to go fine, a new COVID-19 confirmed case occurred in the airport customs. The entire airport was shut down, and the face masks were retained there for 15 days. After overcoming these series of challenges, the airport was reopened, and delivery resumed. The face masks arrived safely to the Indian subsidiary on May 8.

CASE4. Europe
Drilling through closed borders, into Europe.
The virus is on a rapid spread in Europe, especially in Italy and Spain. In the case of Italy, all borders of the country were closed, and all businesses faced temporary closure, except for essential industries. In this situation, POSCO-ITPC, a local processing center, urgently requested face masks. Although all borders were closed, fortunately, cargo planes from Korea were operated once a week. After several requests, POSCO succeeded in shipping the goods to Italy.

“Getting certification is nearly impossible if there’s no record of export to Europe.”
For other European countries, getting certification required for customs clearance was a major issue. The face masks were already exported to the U.S. and Hong Kong, but it had no record of exports to Europe, making it difficult to get a certification. It seemed that the procedure would take several months, However, acknowledging the urgent matter, the local customs finally accepted POSCO’s request in the end. At last, the face masks were delivered to various parts of Europe, including Germany, Belgium, France, Poland, and Slovakia.

What kind of face masks were delivered to POSCO Overseas employees?

▲ Multi-use face masks that were shipped to the POSCO E&C office in Abu Dhabi, UAE

Under the pharmaceutical law, face masks are designated as non-medical products and thus approved by the Ministry of Food and Drug Safety (MFDS). There are two types of face masks: a surgical mask is one and respirators (anti-dust masks) the other. The MFDS restricted exports of two types of masks that have a KF certification (respirators), so POSCO secured multi-use masks that are as efficient as KF94 masks and distributed them to all employees both in Korea and abroad. The multi-use masks made with new copper materials have an antibacterial effect. They can be reused up to three months, and are able to retain its effectiveness.

CASE5. America
The confirmed case of a dispatched employee & the rapid spread of COVID-19
In March, POSCO-America, POSCO’s business office in the U.S., requested for multi-use masks. It reported that a dispatched employee working at POSCO-AAPC, a local processing center, was confirmed of the virus, and two more employees at POSCO-America and POSCO-Mexico were being tested. There was a great deal of difficulty in securing a flight to the United States, but POSCO accomplished the task once again. On March 29, the masks were sent on a night flight and arrived at Atlanta airport the next day. After going through customs clearance, the masks were distributed to Atlanta, Washington, Houston, Detroit, and Mexico City.

In March, POSCO-America also donated eight devices for video calling to the Charlie Norwood VA Medical Center (Fisher House), where veterans who participated in the Korean War reside, in Augusta, Georgia. (See article)

‘How Do You Like POSCO?’ is a series presented here at POSCO Newsroom, introducing POSCO’s major global business sites and local employees who are living the global POSCO dream. The first story is about four local employees at PT.KRAKATAU POSCO, Indonesia.

Part1. “The Leading Force of PT.KRAKATAU POSCO”

Q. Tell us briefly about yourself and how you became to join PT.KRAKATAU POSCO.

Q. How do people around you react when you tell them you work at PT.KRAKATAU POSCO?

▲ PT.KRAKATAU POSCO

Q Tell me about your job in detail.

▲ Winners are taking a commemorative photo on January 29 at the 2020 Safety Golden Bell event in PT.KRAKATAU POSCO.

Part2. “Another Family, PT.KRAKATAU POSCO”

Q. How are your Korean colleagues? How do you get along with the local employees?

▲ Group photo of the Iron Making Department in PT.KRAKATAU POSCO in 2019. The photo was contributed by SV Won-Ki Lee.

Q. What are the advantages of working at PT.KRAKATAU POSCO regarding work environment and welfare? What makes PT.KRAKATAU POSCO special compared to other local companies?

The pride of working at the first overseas steelworks of POSCO, the world’s most competitive steelmaker, and the fact that it is the first integrated steel mill in Southeast Asia — as well as Indonesia — presents PT.KRAKATAU POSCO local employees with motivation and positive influence. At PT.KRAKATAU POSCO the Korean and Indonesian employees will continue to develop together with POSCO’s abundant techniques and experience.
Just like the many POSCO employees, who were proud to contribute to the national economic development in the past, POSCO Newsroom hopes the local employees — along with the four employees here — will grow further in POSCO, and later on, contribute to the regional and national development.

A total of 120 Beyonders came together to volunteer in the vicinity of PT.KRAKATAU-POSCO. The Beyonders worked not only on improving the school environment but also on building meaningful connections by teaching local students and participating in cultural exchange activities.

POSCO Newsroom was presented with two special diaries written in Cilegon. Two 13th Beyonders, Eun-Soo Lee (UNIST) and Chae-won Heo (Kwangwoon University) recorded events of the day, sharing the story of their volunteer work — and the true value they encountered.

(DAY1) [Safety First, “Hati-Hati!”]

Chae-Won: On arriving, we met the Beyond members of Indonesia. Interpreters from Beyond Indonesia were assigned to each group, and we participated in several programs together to break the ice and become close. As I got to know the Beyond Indonesia members, I was really surprised! Some members knew K-Pop better than me, and some spoke fluent Korean.

Chae-Won: We had to come up with a team slogan, and our team decided to emphasize on ‘safety.’ ‘Hati’ in Indonesian means ‘Be careful!’ We added a ‘heart’ here and completed our slogan, “HATI-HATI, HEART!”

Eun-Soo: The biggest difference between Indonesia and Korea would be the scene at sunset. It’s the same sky, but the scenery here, with all the palm trees and the pink hue, seemed surreal. Then it hit me that I was indeed in a foreign land.

(DAY2) [A Long And Hard Day…]

Eun-Soo: Wow. It was a really hard day. Carrying bricks all day long and painting with a rod that is bigger than me wasn’t easy. My whole body is aching — from my shoulders to my legs. Will I be able to make it tomorrow? Adding to the hard work, the wet weather reaching up to 29 ℃ made it harder. I had to take a rest in the afternoon because of the suffocating heat. I was sorry to my team members since it felt like my fault that I was in such a bad condition.

Chae-Won: At first, the work seemed difficult because of the environment, so I tried to avoid working hard. But as I was working, I found out that it wasn’t that difficult or hard. The moment I realized this, I was ashamed of myself. We were all in this together. If I didn’t do it, someone else had to do it eventually. But I seemed to forget that. I was disappointed at myself. Then, I looked around. All the other members and staff were voluntarily doing hard work. As I saw the Beyonders who were working, — without showing any signs of distress or exhaustion — I reflected on myself.

Chae-Won: One of the things that surprised me was that nobody complained or showed how hard the work was. Even though it was a more difficult task than when in Korea, everyone just focused and did their jobs. Watching them, I could feel that we have indeed grown up in the last few months.

(DAY3) [A True Sign of Respect And Love]

Eun-Soo: During the building project, I could meet the local school students. All of them looked so sweet and innocent. And looking at them, I promised myself that I would make a better environment for them. I know that my help is not going to bring a dramatic change, but I’m sure that this little help can come together and make a difference. Through a better environment and education, I hope these children can live happily and cheerfully in the future as well.

Chae-Won: After the activities, we played Korean traditional games with the local students. I was able to show off the skills that I had mastered in elementary school, but the students were so good at it that I was a bit embarrassed. When I had to go, the students put their foreheads and lips on the back of my hands. I didn’t know what it meant, but it felt like a nice gesture. Later, I came to know that this is an act of showing respect to someone older. All the affection and respect the students showed me, made today a meaningful day. I’ll never forget it.

(DAY4) [Have You Ever Seen Snow?]

Chae-Won: At last the education project! I had been preparing this for a long time, and now I can finally use the training aids I made! >0< I was so excited. When I was getting ready for the class, I was worried whether the local students would enjoy the class and whether we could communicate well. But no need to worry! The Beyond Indonesia team member helped with the interpretation and also taught me Indonesian repeatedly. But there were times when this wasn’t enough, and that’s where body language stepped in. It really worked well!

Eun-Soo: The education project★ was one of the most important projects in the Beyond schedule. Our team explained about nutrients, and with fruits as example, we helped the students understand the nutrients contained in fruits. The member in charge of the project led us all well so, all nine of us could fully understand the content and focus on teaching. I was worried that the high-school students might not like the ‘glass deco’ that we used, since they haven’t used it before. But they found it interesting and focused on the activity really well.

Chae-Won: I had a chat with the students during the break, and the most memorable question was regarding seasons. The students showed great interest in the ‘winter’ and ‘snow’ of Korea. I have never thought about, ‘How many seasons does Korea have?’ or ‘What season is it?’ So it was new for me to get these kinds of questions.

(DAY4) [They Love Korea So Much!]

Chae-Won: When the education class was over, I had a celebrity moment. The children made heart shapes with their hands, standing in a line and waiting to take a picture with me. I was a STAR. I didn’t know that Indonesian students would like Korea so much. Even though they saw me for the first time today, they gave me lots of love and attention, and had so many questions about me and my country. I was really thankful for all that. It was a new experience today. By interacting with these children, I could get rid of the prejudice I had. I will always remember today.

(DAY5) [Everyone’s a Little Edgy Today..TT]

Eun-Soo: The practice for the cultural performance did not go well. It was the first time something like this happened. Our team was normally full of energy and positive vibes, but not today. Everyone was a little edgy, spoke as if finding fault in each other, and acted hastily. I was a little scared that our teamwork and relationship might fall apart. But as the Korean saying, I think ‘the ground will harden after the rain.’ It was a hard day for everyone today, and I believe tomorrow will be better. I will try to compliment my teammates first, support them more, and do better!

Chae-Won: If it’s a hard job for me, it’s a hard job for everyone. If I’m on the edge, someone else might be too. I should think of this over and over again.

(DAY6) [My Special 21st Birthday As a Beyonder]

Eun-Soo: I was practicing for the cultural performance as usual. Suddenly, my teammates appeared with a choco-pie cake and started singing the birthday song for me. I couldn’t help but burst into tears because I could feel the love and affection of my teammates. My 20th birthday in Indonesia — It’s a day I will cherish my whole life It was an honor to share this special day with my teammates.

(DAY7) [The Day The Beyonders Shined On Stage!]

Eun-Soo: The long-awaited day to stage our cultural performance finally arrived! The past 6-7 months of practice flashed through my mind. At first, I didn’t even know how to hold the fan properly, and sometimes it was hard and exhausting, but in the end, we made it! We put up a splendid performance! The practicing part was really hard, but it was fun as well. I could feel that the audience also connected to our feelings! >_<

Chae-Won: I was nervous during rehearsal, but when I stood on the stage, I wasn’t as nervous as I thought — So I made a huge mistake at the end. But the performance ended well. After the perfect ending pose, our team stepped down the stage and faced each other. We told each other what a wonderful performance we put on stage today, and then I realized that the seven months of practice were indeed over. I had a mix of emotions.

Eun-Soo: The 13th Beyonders were awesome. They could dance and sing like real talented singers! But the most amazing feature would be our teamwork It is sad to think that our activity is coming to an end. We’ve just started to get to know each other. But as they say! You should know when to bow out ㅠ_ㅠ I should try my best not to cry when I say goodbye to my Indonesian friends tomorrow!

The 120 youths who had no idea of each other, truly bonded through Beyond. They shared special moments, wept and laughed together. Now, these Beyonders have returned as “global good citizens,” learning to care for each other in hot weather and hard times. This February, the adventure of the 13th Beyond will come to an end with a final presentation — showing their activities of the past eight months. We truly applaud these youngsters who have devoted two seasons of their 20’s to volunteering. We also look forward to the 14th and 15th Beyond that are to be born.

Currently at its 12th cycle, the current Beyonders thereby called Beyond 12th, the Beyond is part of POSCO’s endeavor to extend its corporate citizenship by cultivating global talents. Beyond volunteering is not a sporadic event. It’s an 8-month program organized in a way through which participants could truly embody the community service spirits and mutual respect.

To date, over 1,100 students participated in the program working on 270-plus construction projects, teaching activities, and various other programs across India, Thailand, Indonesia, and Vietnam. Beyonders also contributed their talents to various domestic projects in Pohang, Gwangyang, and Incheon.

Take a look at the Beyond volunteer activities during the 12 days in Cilegon, Indonesia with POSCO Newsroom.

House-building project was the very first task the Beyond 12th took on when they arrived in Cilegon. The Beyonders built houses for a total of 10 impoverished households in the vicinity of PT Krakatau POSCO. For each house to be built, around 11 to 12 volunteers were assigned.

The housing project is linked to the Indonesian Steel Village Project, which started in 2018. Each housing unit consisted of two rooms, a living room and a toilet with a total surface area of 30 square meters. During the 12-day construction period, Beyonders proactively reached out to the local community to build meaningful connections and foster mutual understanding. Check out the pictures below:

POSCO Group is set to donate $500,000 as Indonesian tsunami relief fund.

On last December 22nd, the Anak Krakatau volcano eruption and landslides under the sea level in the Sunda Strait – located between Indonesian Java and Sumatra islands – triggered a tsunami along the coastline. To date, the disaster caused 426 deaths and displaced 40,000 people.

POSCO quickly jumped in to help alleviate the damages by donating a total of $500,000 to the Indonesian Red Cross. It includes $300,000 from POSCO, $100,000 from PT Krakatau POSCO (Joint Venture Company between Indonesia’s PT Krakatau Steel Tbk and POSCO Korea) and $50,000 from POSCO Daewoo and POSCO E & C.

Pandeglang and Anyar areas in Banten province are some of the worst-affected areas, located 40 to 120 km from the PT Krakatau POSCO office, where the company is helping dispatch emergency relief team to deliver aids to the victims.

This is not POSCO’s first contribution to the relief efforts in Indonesia. In August and October last year, the company donated $130,000 and $500,000 respectively to help the region recover from the aftermaths of the earthquakes. On September, POSCO also established ten housing units in the impoverished area in the vicinity of the PT Krakatau POSCO office.

POSCO has announced its financial reports at Investor Relation (IR) conference call on April 24th that its first quarter consolidated sales were up to 14.7 billion dollars and its consolidated operating profit was 1.4 billion dollars. The consolidated net profit was approximately 1 billion dollars.

POSCO’s consolidated profits indicates positive sign for both domestic and overseas

Reach to 14.7 billion dollars consolidated sales, 1.4 billion dollars in consolidated operating profit

Sales, operating profit and net profit has elevated by 5.2%, 9% and 10.9% compared to the previous year. This impressive achievement is done by the improvement of both domestic and overseas steel production and non-steel affiliates.

Non-consolidated sales of 7.7 billion dollars and 946 million dollars of operating profit.

PT. KRAKATAU POSCO, which is an integrated steel mill in Indonesia also turn into profit from the third quarter. Despite of decrease of steel bar and shaped steel plant from POSCO SS VINA in Vietnam, operating profit has increased gradually. This great performance of oversea steel subsidiaries gives positive indication of growth in sales.

Its non-consolidated sales rate has increased by 9.8% year-on-year to 7.7 billion dollars. Also, the proportion of the sales of World Premium products went up by 1.4% year-on-year to 54.9%.

Increased sales of high-value-added products, cost reduction, continued improvement of profitability, and the increased price of steel were the driving force of increasing operating profit margin from 1.8%p year-on-year to 13.1%.

Future is even brighter

POSCO expects that demand of steel will continuously increase on the back of steady restructuring of the Chinese steel industry and recovery of emerging economies. POSCO still also continue to secure financial soundness, reducing costs, and expanding high value-added sales.
All those efforts of POSCO brought impressive result of increasing consolidated and non-consolidated sales to 58.4 billion dollars and 27.9 billion dollars.