POSCO and Suppliers, 40 Million Won 'Good Prepayment' for Pohang and Gwangyang Traditional Markets

Approximately 160 Million KRW Accumulated Over 4 Years
Support for Small Business Owners and Vulnerable Local Groups

POSCO announced on the 21st that its social contribution activity involving employees from its suppliers, 'POSCO Corporate Citizen Friends,' visited traditional markets ahead of the Chuseok holiday to carry out a 'Good Prepayment' campaign.

The Good Prepayment activity involves prepaying a certain amount at local traditional market stores and issuing vouchers that are then distributed to vulnerable groups in the community. These vulnerable groups can use the vouchers to purchase various daily necessities within the traditional markets.

On the 19th, POSCO Corporate Citizen Friends visited Yeonil Market in Pohang, and next month they plan to visit Jungma Market in Gwangyang to conduct traditional market shopping events. The event was made more meaningful by the participation of about 60 employees from POSCO and its suppliers, as well as local district council members including Lee Dong-eop from Gyeongbuk Province, Kim Tae-gyun, Vice Chairman of Jeonnam Provincial Council, and Jeonnam council members Kang Jeong-il and Park Kyung-mi.

On the 19th, POSCO Corporate Citizen Friends carried out a 'Good Prepayment' campaign at Yeonil Market in Pohang to revitalize the local economy and support vulnerable groups ahead of the Chuseok holiday.
[Photo by POSCO]

Since starting the Good Prepayment activity in 2020 to revive the local economy affected by COVID-19 and support vulnerable groups, POSCO Corporate Citizen Friends has continued this initiative for four years. The total amount supported for the traditional markets in Pohang and Gwangyang through this activity is 40 million KRW, with the cumulative prepayment amount reaching approximately 160 million KRW to date.

Kim Tae-eok, Head of POSCO Equipment and Materials Purchasing Office, who visited the traditional markets in Pohang and Gwangyang over two days, said, "It seems that the Good Prepayment by POSCO Corporate Citizen Friends has continued well as a unique local sharing activity over the years. I hope this brings vitality to small business owners and spreads warmth of sharing throughout the local community."

In addition to the Good Prepayment, POSCO Corporate Citizen Friends is actively practicing the corporate citizen management philosophy by leading various activities to address community issues, such as improving housing environments for vulnerable groups and creating classroom forest projects.