POSCO announces statement on co-prosperity
POSCO is seeking to bolster cooperation with partner companies as part of the steelmaker’s bid to support their competitiveness for co-prosperity.
On Thursday, POSCO and its partner firms hosted an event at the steel giant’s headquarters in Pohang, North Gyeongsang Province. They announced a joint statement saying the steelmaker will try to create safer working conditions, bridge the wage gap and improve welfare benefits for employees of its partner firms.
“The statement is designed to help our partner firms grow into specialized small and medium-sized companies,” POSCO said. More than 90 regional partners are set to benefit and they also agreed to create safer working environments for workers, while maintaining stable relations with unions.”
Moon Sung-hyun, chairman of the Economic, Social and Labor Council, a presidential advisory body, said, “This joint declaration is an example of social dialogue for the realization of inclusive growth. Also I expect the declaration could become an example for improving communication between large-sized companies and small businesses.”
POSCO Chairman Choi Jeong-woo said, “The POSCO we have today was possible also due to the dedication of our partners. For a new leap forward to the next 100 years, we need to cooperate with each other.”
As an action plan under the joint declaration on win-win development, partner firms will establish a joint labor welfare fund in Pohang and Gwangyang within this year. POSCO will contribute to the fund, which will be used to improve welfare benefits for employees of partner firms, starting with the establishment of a children’s scholarship fund. POSCO estimates that more than 16,000 employees of partner firms will benefit from the welfare fund.