Spreading Participation in 'Donating 1% of Wages'

POSCO Family employees joining officers and senior managers 

The POSCO Family is spreading the '1% Donation Love Sharing Activity' (1% Sharing Activity) by reflecting on the meaning of living together and sharing. It is based on the idea of donating 1% of each month's wages for needy neighbors and gathering strength together to overcome the economically and socially difficult period.

The 1% Sharing Activity, which started in October 2011 and in which CEO Chung Joonyang and officers and employees of senior manager level and above at 37 POSCO and POSCO Family companies are participating in, has extended participation levels to all employees. 

These efforts started with the employee members of the Labor-Management Council agreeing to participate in the 1% Sharing Activity as part of their efforts in leading POSCO to continuously grow as a respected company from the local society and various stakeholders, and currently 94% of team, department, and plant leaders are participating. 
Officers of external partner companies are also participating in the 1% Sharing Activity as a member of the POSCO family. 

Employee participation is also increasing. All members of the RIST STS Process research group voluntarily started participating in the 1% Sharing Activity in March. Han Seungmin, who participates said, "Despite difficult situations, I started to participate by thankful that I can help those that are facing even more difficulty. Though the amount is small, I hope it is delivered to those who need it most as it is preciously earned."

POSCO Family's sharing activities are evaluated as a case of Noblesse Oblige in a company taking on its responsibility. The company, which leads a culture of corporate volunteering where the average volunteering hours of each employee is 36 hours, is now being seen as spreading a culture of personal donations. 

Donations gathered from the 1% Sharing Activity which started in 2011 are being used to establish the 'Happy Steel House' which is a shelter for neglected elders, and bi-lingual lecturers for wedded immigrant wives and bi-lingual education support for multi-cultural family children. Ideas on how to use the donations from increased participation of employees will be gathered by the Labor-Management Council and through the social media channel. Donations will be used in the right places based on POSCO's characteristics and social requirements. 

The 'Donating 1% of Wages' activity which officers and senior manager levels and above have been participating in is spreading amongst employees. Material Purchase Division Hyeon Jihoon is expressing his intent to participate in the 1% donation. 

Employees who would like to participate can select the amount to donate via the '1% Donation Love Sharing App' located at the top of the Smart Workplace (SWP) first page which will be automatically deducted from each month?s wages. Donations can be deducted in the year-end tax adjustment.