Posco PHP Volunteer Group Carries Out 'Good Prepayment' Initiative at Gwangyang Traditional Market

A Total of 20 Million Won Prepaid at Jungma Market
Supporting Local Small Businesses and Vulnerable Groups for a Warm Year-End

The Posco PHP Volunteer Group from Posco Gwangyang Steelworks carried out a 'Good Prepayment' initiative at Jungma Traditional Market near the steelworks on December 15, aiming to revitalize the local commercial district in Gwangyang.

The event was attended by Lee Seunggi, Head of Equipment and Materials Procurement at Posco, Kim Myunghoon, Head of the Gwangyang PHP Volunteer Group, and more than 50 employees from Posco’s top partner suppliers.

On the 15th, the 'Good Prepayment' event organized by the POSCO PHP Volunteer Group was held at Jungma Market in Gwangyang. Provided by Gwangyang Steelworks

The Posco PHP Volunteer Group is a community-sharing organization based in the Gwangyang Steelworks area, composed mainly of employees from Posco and its Honored Partners (PHP), as well as partner supplier companies working with the steelworks.

This Good Prepayment event, held at the end of the year, will provide a total of 20 million won to Jungma Traditional Market to help local small business owners secure liquidity and to offer proactive support to vulnerable groups.

'Good Prepayment' involves making advance payments to traditional market stores using Onnuri gift certificates. In collaboration with Gwangyang City, the prepaid certificates (tickets) are then distributed to vulnerable groups such as single-parent families and elderly people living alone. Beneficiary households can exchange these for a variety of goods sold at the traditional market, including rice, side dishes, and vegetables.

Earlier, the government designated the Gwangyang area as a 'Preemptive Response Zone for Industrial Crisis.' In response, the Posco PHP Volunteer Group launched this Good Prepayment initiative to help overcome the crisis in the steel industry and support local small business owners in enjoying a more prosperous and warm year-end season.

Lee Seunggi, Head of Equipment and Materials Procurement at Posco, stated, "I hope the Good Prepayment activities of the Posco PHP Volunteer Group will contribute to revitalizing the local commercial district and spread warmth and sharing to vulnerable groups."

Local merchants expressed, "We are experiencing great difficulties due to the severe downturn in the steel industry," and added, "We would like to thank the Posco PHP Volunteer Group for helping to invigorate the market."

Meanwhile, the Posco PHP Volunteer Group continues to engage in a variety of social contribution activities to coexist with the local community, including Good Prepayment initiatives for holidays and year-end rice and blanket sharing events.