Pohang City Declares 'Win-Win Cooperation' to Overcome Local Economic Crisis Ceremony

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Pohang City, Gyeongsangbuk-do, held a Win-Win Cooperation Declaration Ceremony on the 4th at Hyeongsan River Water Leisure Town with related organizations and labor union officials in attendance to overcome the local economic crisis related to the novel coronavirus infection (COVID-19).

Attendees at the agreement ceremony included Lee Kang-deok, Mayor of Pohang; Seo Jae-won, Chairman of Pohang City Council; Kim Kyung-tae, Head of Pohang Branch of the Ministry of Employment and Labor; Kim Jae-dong, Chairman of Pohang Chamber of Commerce and Industry; Jeon Ik-hyun, Chairman of Pohang Steel Industrial Complex Management Corporation; Nam Soo-hee, Head of POSCO Pohang Steelworks; Lee Dong-chae, Chairman of EcoPro; Kim Soo-yeon, CEO of EcoPro GEM; and Jung Cheon-gyun, Chairman of the Pohang Regional Branch of the Federation of Korean Trade Unions.

Through this agreement, Pohang City plans to continuously promote proactive and aggressive cooperative projects focusing on building a win-win labor-management relationship, operating the Shoulder-to-Shoulder Corporate Support Center, supporting daily workers' wages, and providing support for export companies' insurance premiums and logistics costs.

This project involves 18 institutions and companies, including Pohang Chamber of Commerce and Industry, Pohang Steel Industrial Complex Management Corporation, Ministry of Employment and Labor Pohang Branch, Small and Medium Business Corporation Gyeongbuk Eastern Branch, POSCO, Hyundai Steel, EcoPro, NH Nonghyup, Daegu Bank, and other professional counselors from the financial sector.

Mayor Lee Kang-deok of Pohang said, "I hope this agreement will serve as an important starting point for labor, management, and related organizations to unite and cooperate to overcome COVID-19 and the economic crisis and revitalize the local economy. I ask that companies and workers do their best in their respective positions with the belief that only when both thrive can Pohang's economy take off again."