[Asia Economy Reporter Hwang Yoon-joo] Hyundai Steel's five business sites have been selected as recognized companies under the 2020 Community Contribution Recognition Program by the government for their contributions to revitalizing local communities.
Hyundai Steel announced on the 2nd that all five business sites in Dangjin, Incheon, Pohang, Suncheon, and Ulsan received the 'Community Contribution' recognition plaque at the 'Community Contribution Recognition Day' event, hosted by the Ministry of Health and Welfare and organized by the Korea National Council on Social Welfare, which was held online.
Based on the social contribution vision of 'Drawing a 100-Year Miracle and Change Together,' Hyundai Steel carries out social contribution activities that meet the needs of the local communities where each business site is located. Furthermore, by establishing a foundation for beneficiaries to become self-reliant after the activities, the company has pursued fundamental change and problem-solving, which is seen as the reason for achieving such results.
Hyundai Steel’s social contribution activities are characterized by reflecting local needs while building self-reliance models. For example, the 'Coffee Grounds Recycling Project,' which collects coffee grounds usually discarded and transforms them into daily necessities such as flowerpots and pencils, has established a cooperative system by signing MOUs with 10 organizations including Jung-gu and Michuhol-gu in Incheon. At the same time, by linking the production process with local self-support centers, socially vulnerable groups are enabled to participate directly in production activities. This contributes not only to environmentally friendly resource recycling but also to job creation and economic revitalization in the local community.
Additionally, in the Dangjin and Pohang areas, reflecting the opinions of local organizations that cultural infrastructure is relatively lacking, lectures and performances for local residents have been held. They invited world-renowned roboticist Dennis Hong to give lectures for local youth and have hosted various cultural sharing performances for culturally marginalized groups.
In particular, the 'Hope Home Repair - Residential Energy Efficiency Project,' which supports energy reduction in the local communities where each business site is located, has been a representative long-term project continuing for 10 years since 2011. Through this project, energy efficiency construction has been completed for a total of 917 households and 10 welfare facilities by November this year. This has been evaluated as improving the living environment of energy-poor households and expanding the foundation for related projects for energy welfare for low-income groups.
Hyundai Steel plans to continue fulfilling its role as a company that can grow together with the community by carrying out social contribution activities through cooperation with various organizations such as local non-profit organizations.
Meanwhile, the 'Community Contribution Recognition Program,' introduced for the first time in 2019, is a system that recognizes social contribution activities of companies and institutions that have formed cooperative relationships with local non-profit organizations and contributed to solving community problems. It strictly evaluates the establishment of social contribution organizations and support systems, the building of community networks, and partnership achievements.
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