POSCO Chairman Choi Jeong-woo orders POSCO employees with Gwangyang Steelworks to ensure safety. (Photos: POSCO)

POSCO has been doing its best to prevent the spread of the novel coronavirus at companywide sites as well as among the general public.

The steelmaker donated 5 billion won to Hope Bridge Korea Disaster Relief Association on Feb. 27, asking that the money should be used for purchasing medical relief goods such as hand disinfectant and protective face masks, as well as for taking preventive measures to stem the spread of COVID-19.

As part of companywide efforts to stem staff infections, POSCO has allowed employees in Seoul to work from home on a two-shift rotation to keep the company running, while following government guidelines on social distancing since March 2.

In a preventive step to help employees at a risk of contracting the virus, POSCO has changed production facilities into smart factories, which leads to raising efficiency.

At the heart of POSCO’s production innovation efforts is the steelmaker’s smart factory. Starting with AI-enabled blast furnace, POSCO has installed smart systems at steelworks.

The steelmaker has implemented 221 smart tasks, including the introduction of a big data technology, since 2016 until last year.

POSCO Group donated 5 billion won to prevent the spread of COVID-19 and overcome hardships, caused by the pandemic. Medical supplies delivered to medical personnel in the Daegu area, contributed by POSCO, are loaded onto a truck.

POSCO Globally Puts into Practice Management Philosophy ‘Corporate Citizenship’

POSCO is actively engaged in the global practice of its management philosophy ‘Corporate Citizenship’ for development together.

One of POSCO’s representative practices under the cause of corporate citizenship is the creation of a GEM matching fund with an overseas raw material supplier to contribute the development of regional society in Korea and abroad.

In Mexico, POSCO established the POSCO Hope Center to provide support to people in the low-income and the underprivileged bracket. POSCO also played part of global corporate citizenship by proactively participating in efforts to restore damages caused by bush fires in Australia.

Chairman Choi Jeong-woo stressed the implementation of global practices of corporate citizenship at the “2019 Corporate Citizenship POSCO Outcome-Sharing Event” last Dec. 3. POSCO declared corporate citizenship as a management tenet.

Last December, POSCO established the first ‘GEM Matching Fund’ with Australian coal supplier Yancoal.

POSCO also signed an agreement to form ‘the Second GEM Matching Fund’ with U.S. coal supplier Xcoal at the POSCO Center on Feb. 24 with Yoo Byeong-og, the head of POSCO’s Purchasing and Investment Division, Ernie Thrasher, President of Xcoal, and Kim Hyung-Soo, CEO of Tree Planet present.

Xcoal is the largest coking coal exporter in the U.S. supplying POSCO with approximately 1 million tons a year. Tree Planet is an eco-friendly social enterprise that implements forestation projects aiming to reduce fine dust.

The GEM Matching Fund, established by POSCO after the declaration of the Corporate Citizens Charter in July last year, is the first global matching fund organized between steel and mining industries.

The initial fund named ‘Opal,’ was created last November with Australian coal supplier Yancoal.

In addition to the dictionary meaning of ‘jewel’, GEM also stands for ‘Go the Extra Mile.’ This symbolizes that POSCO is taking strides for the whole society.