SMEs-POSCO Expand Win-Win Cooperation... "Exploring New Paths for Mutual Growth"

Jang In-hwa, Chairman of POSCO Group, Visits Korea Federation of SMEs
Kim Ki-moon: "Hope for Active and Close Cooperation"

The small and medium-sized enterprises (SME) sector and POSCO will expand their win-win cooperation in response to the rapidly changing global environment.

Jang In-hwa, Chairman of POSCO Group Photo by Yonhap News

The Korea Federation of SMEs announced on the 24th that it held a meeting with Jang In-hwa, Chairman of the POSCO Group. Since his inauguration in March, Chairman Jang visited the Federation of SMEs as the first economic organization.

Both sides agreed to create a new platform for win-win cooperation and mutual growth. Since signing the win-win cooperation agreement in 2008, the Federation of SMEs and POSCO have promoted collaborative projects such as ‘QSS Innovation Activity Consulting,’ ‘Win-win Type Smart Factory Support,’ and ‘Support for SMEs Affected by Stainless Steel Anti-dumping Complaints.’ However, due to the rapid changes in the internal and external environment such as the global supply chain restructuring after COVID-19, ESG (Environmental, Social, and Governance) and carbon neutrality, and the enforcement of the Serious Accident Punishment Act, there has been a growing call on the ground to strengthen win-win cooperation between POSCO and SMEs to respond effectively and enhance the competitiveness of the steel industry.

Kim Ki-moon, Chairman of the Federation of SMEs, said, "POSCO has led the mutual growth of large corporations and has been a very important partner for SMEs as a major supplier of raw materials such as steel. However, it is true that exchanges and win-win cooperation with the SME sector have been somewhat lacking in recent years," adding, "Given the difficult economic situation, I hope that this visit will serve as an opportunity for both organizations to cooperate more actively and closely than ever before."

In response, Chairman Jang said, "The POSCO Group has continuously made various efforts for win-win cooperation with SMEs and the establishment of a robust industrial ecosystem," and added, "We will activate communication between the two organizations in the future, expand and strengthen win-win cooperation, and seek new paths for mutual growth."