Business Agreement between Ministry of SMEs and Startups and 'Jasanghan Company 2.0' on the 14th
Supporting Overseas Market Development and Sharing ESG Management Know-how
[Asia Economy Reporter Kim Bo-kyung] POSCO International is contributing a win-win cooperation fund worth 30 billion KRW to support the overseas expansion of small and venture companies.
On the 14th, the Ministry of SMEs and Startups signed a business agreement for "Strengthening Overseas Competitiveness and ESG Capabilities of Small and Venture Companies" with POSCO International and the Foundation for Cooperation between Large, Small Enterprises and Agriculture and Fisheries at POSCO Tower-Songdo in Yeonsu-gu, Incheon.
This agreement is the eighth under the Ministry's "Caring Companies 2.0" initiative, which signs agreements with companies related to key areas such as ESG (Environment, Social, Governance), the Korean New Deal, and carbon neutrality.
A Caring Company refers to a voluntary win-win cooperation company that goes beyond cooperation focused on partner companies to share strengths such as capabilities and know-how with non-partner companies and small business owners.
POSCO International, a comprehensive business company in steel, energy, and food, is leading support for small and venture companies to pioneer overseas markets based on its accumulated overseas business capabilities. It was selected as a Caring Company 2.0 for actively practicing ESG management, including issuing ESG bonds for the first time in the steel industry.
Through this agreement, POSCO International will support small and venture companies to smoothly enter overseas markets based on 86 overseas bases in 53 countries by providing buyer brokerage, branch establishment, export consultation meetings, and overseas marketing strategy development.
Based on decades of collaboration with global clients, it will provide advice and consulting to help small and venture companies respond to international evaluations and certifications related to ESG. This will support small and venture companies in meeting the increasing demands for ESG management.
Furthermore, POSCO International will contribute 30 billion KRW to the win-win cooperation fund to promote additional cooperation with small and venture companies.
POSCO International will first select 50 small and venture companies leading future industries such as bio-health, future cars, vaccines, and new materials, and plans to expand the number of supported companies after performance evaluations.
Joo Si-bo, President of POSCO International, stated, "We will continue to create win-win value by discovering new business opportunities with small and venture companies through active ESG management and practice the corporate citizenship management philosophy."
Minister Kwon Chil-seung of the Ministry of SMEs and Startups said, "Through this agreement, we hope that small and venture companies in future industries such as bio-health, future cars, vaccines, and new materials will grow into K-unicorns by cooperating with POSCO International."
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