POSCO donated 10 billion KRW on December 17 to help neighbors in need at the close of the year. The donations were jointly collected by Group companies to the Community Chest of Korea.
POSCO delivered a year-end donation of 8 billion KRW and a further 6 group companies, including Daewoo International, POSCO Energy, POSCO Engineering & Construction, POSCO ICT, POSCO CHEMTECH and POSCO Terminal, delivered a combined 2 billion KRW.
There were 30 people from POSCO and the Community Chest of Korea present at the donation delivery ceremony, including vice president of POSCO Lee Young Hoon and president of the Community Chest of Korea Huh Dong Soo.
The vice president of POSCO Lee Young Hoon, who delivered the donation, said, ``I am honored to be able to help share with our neighbors in need. POSCO will continue to help shape a better society by practicing continuous sharing and service.``
In response to this, the president of the Community Chest of Korea Huh Dong Soo answered, ``We thank you for the warm-heartedness of executives and staff at POSCO group. The sharing activities of POSCO group are fast becoming an important pillar of hope in solving welfare blind-spots through social integration and conflict resolution.
The Community Chest of Korea is Korea`s largest legal private fundraising organization. Established in 1998 based on the Community Chest of Korea Act, its donations are mainly used to support private welfare projects such as educational expenses, heating costs, medical expenses, costs for food and house repairing costs for children, adolescents, the elderly, women and the disabled.
POSCO has participated as a sharing partner of the Community Chest of Korea since the early days of its establishment in 1999. Since 2007, POSCO has donated 10 billion KRW every year for neighbors in need with group companies.
Meanwhile, in addition to its donations for helping neighbors in need, POSCO operates `POSCO 1% Sharing Foundation`, which gathers the 1% wage donation from executives and staff of POSCO Families and provides matching grants. That means that, from the executive level to the shopfloor, POSCO practices warm sharing for underprivileged neighbors at home and abroad.