POSCO chairman donates 300 million won

By Jhoo Dong-chan

POSCO Chairman Kwon Oh-joon has donated 300 million won ($264,550) to boost youth employment.

According to a POSCO official, Friday, the chairman, 66, donated 100 million won each to Pohang University of Science and Technology (POSTECH), Seoul National University (SNU) and the National Academy of Engineering of Korea (NAEK).

The money will be used in the youth technology and start-up fields, the official said.

“The essence of a creative economy is job-creating,” said Kwon. “I hope the donation will help start-ups and ventures to create more jobs for young people.”

In a bid to help young jobseekers and start-ups, POSTECH has a mentoring, networking and promotion program, the “Association of Postech Grown Companies Labs.”

SNU and NAEK plan similar youth employment and start-up support programs.

POSCO has been involved in various social responsibility activities this year, including the energy service program to improve the lives of low-income families, in May, and a house-building project in Vietnam in February.