In addition to fulfilling our responsibility as a corporate citizen, we encourage all employees to foster a mature sense of citizenship befitting a world-class company and serve our communities by voluntarily taking part in company-led public interest activities. We reach out to the underserved through these activities conducted by the POSCO 1% Foundation and GEM Matching Fund.
2020 POSCO Global Good Citizenship Week
Launched in 2010, POSCO Global Good Citizenship Week is an annual special event established for supporting the local community based on the management philosophy of Corporate Citizenship: Building a Better Future Together. Under the theme of “Cheer Up My Town, Remember Our Heroes,” this year’s activities were carried out to revitalize the local economy affected by the COVID-19 and commemorate the 70th anniversary of the Korean War.
POSCO 1% Foundation
The POSCO 1% Foundation is a non-profit foundation operated based on the donations by employees of POSCO Group and its partners, i.e., 1% of their salaries, with the company matching all donations. Since its establishment in 2013, the Foundation has continually carried out a wide range of activities to benefit and promote the prosperity of local communities, mainly through projects for vulnerable groups, and contribute to building a better world.
Providing the ground for POSCO employees to donate their talents
GEM Matching Fund
GEM Matching Fund is the first global matching fund established by POSCO in association with our overseas raw material suppliers. POSCO launched GEM Matching Fund 1 jointly with Australia’s coal supplier Yancoal and concluded a deal to establish GEM Matching Fund 2 with US coal supplier Xcoal and GEM Matching Fund 3 with Australian iron ore supplier FMG.
GEM Matching Fund 1 operates employment education programs tailored for Aboriginal Australians in cooperation with related sponsoring organizations, while funds raised through GEM Matching Fund 2 are being used for forest restoration in areas hit by the forest fire in Okgye, Gangwon-do. And Fund 3 will be donated to Jeollanam-do Human Resources Development Foundation.