POSCO Burnishes ‘Steel’ Image
By Jane Han
Staff Reporter
The dual-tower POSCO Center building, which is often regarded as one of the country's most modern structures, is much more than Seoul's steel central. The building also transforms into an art showroom, a classical concert hall, and, at times, even a stage for rockers.
``We try to soften up people's perception that the steel industry is stiff business through various initiatives,'' said POSCO spokesman Kim Dong-wan, adding that, among many events, the company's monthly concert invites an audience of some 2,000 local citizens to enjoy the free show.
When guests visit to attend the show, they get a chance to tour the ground level of the southern Seoul high-rise tower, which houses a steel museum and a showroom for contemporary art.
``It gives people a chance to become more friendly with our company and the steel industry as a whole,'' said Kim.
The POSCO-driven Mecenat (partnership of corporations and performance groups) also finds its way onto college campuses.
The steel maker sponsors multiple symphony concerts in various universities nationwide to support musicians and provide free entertainment to students and local citizens.
Although cultural events in Seoul have become more common recently, POSCO says its original efforts date back to the 1980s at its Pohang headquarters.
The Pohang International Fireworks Festival, among other events held throughout the year, invites more than 1.5 million people annually, says the world's fourth-largest steel maker.
Keeping close ties with the public is essential, says POSCO, which claims it established ties with nearly 70 percent of Pohang's population of 510,000 people. This means that a majority of the citizens in the region have a connection with the steel group through various interrelated activities.
POSCO, for example, encourages employees to participate in community service in Pohang towns that it has formed official ties with. It also promotes employees to buy goods produced from those regions.
``All of these efforts are part of the company's social responsibility efforts,'' said Kim.
Last year, the steel maker says 89 percent of its employees participated in activities designed to give something back to society.
It said 2.2 percent of its operating profit, which amounts to 96.5 billion won, was used to fund these various activities.
And as POSCO's business rapidly expands overseas, its efforts to give something back to society are also expanding.
In India, the company recently sponsored operations for 23 cleft lip and palate patients, while 100 Pohang University of Science and Technology students helped build home there as part of the Habitat for Humanity program.
Schools are being built in Vietnam, medical support is given to poverty-stricken children in the Philippines and disaster relief efforts are being carried out in Indonesia, says POSCO.