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Posco backs startups in Pohang, Gwangyang

South Korean steelmaker Posco said Thursday it has launched a startup committee to foster companies in the cities of Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province, and to enhance communication among startups, regional governments and agencies. 

The committee, which comprises 197 startups, is supported by 17 regional governments and organizations, including the Research Institute of Industrial Science & Technology, Postech and Techno Parks. It plans to periodically discuss issues related to the operation of startups and present customized solutions, according to Posco.

“Posco will actively support the activities of the committee to create a virtuous cycle for startup platforms and contribute to the regional economy,” said Oh Gyu-seok, chief of Posco’s new growth business division, at the launch event Thursday.

The committee aims to focus on three broad areas: materials, energy and the environment; biotechnology and new medicines; and smart cities and smart factories. 

By Shin Ji-hye (