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Posco to donate W10b for the needy

South Korea’s largest steelmaker Posco plans to donate 10 billion won ($8.88 million) to assist underprivileged families, provide medical services and support the improvement of community housing by the end of the year, the company said Monday.

Posco Group will donate 8 billion won while seven affiliates of Posco will contribute 2 billion won to the Community Chest of Korea. 

Posco Chairman Choi Jung-woo (Posco)
Posco Chairman Choi Jung-woo (Posco)

Posco has been carrying out various outreach programs under the management philosophy of “Corporate citizenship: building a better future together.”

As a partner of the CCK, Posco has been donating to the organization every year since 1999.

Other Posco affiliates also became contributors in 2004, accumulating 132 billion won ($117 million) of funds until last year.

The CCK is the nation’s largest fundraising and allocation institution, established in 1998 according to the Community Chest of Korea Act.

By Yoon Yeun-jung (