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Posco to donate W1.5b toward Pohang earthquake relief

Posco said Friday that it would donate 1.5 billion won ($1.37 million) toward ongoing relief operations in the South Korean city of Pohang, which was hit by a magnitude 5.4 earthquake on Wednesday.

The Posco headquarters, the Posco Foundation and Posco’s subsidiaries will each provide 500 million won to the charity organization Community Chest of Korea’s North Gyeongsang Province office.

Subsidiaries taking part in the donation include Posco E&C, Posco ICT, Posco Chemtech and Posco C&C.


The Korean steelmaker has already been contributing to disaster relief efforts, providing 400 sleeping bags and 1,000 lunchboxes on the day of the earthquake. More than 200 employees have served as volunteers in cleaning and fixing homes in Pohang as well, the firm said.

Posco, which operates Pohang Iron and Steel Plant in the area, said upon the earthquake that it suffered no damage to its facilities and operations.

Leveraging its business specialty, Posco has also formed a construction safety task force consisting of 20 experts in the field to provide strategic consulting on inspecting and fixing schools and public buildings damaged by the quake.

By Sohn Ji-young (