POSCO Group executives will start returning up to 20 percent of their wages this month under the leadership of Chairman Chang In-hwa, as part of group-wide efforts to reduce costs amid a slowdown in the global steel and battery industries, the company said Monday.
The Posco 1% Foundation, founded in 2013, is funded by the donations of employees at South Korean steel giant Posco Group. Among the foundation's diverse charity projects is one aimed at supporting people with disabilities, particularly in career-seeking activities. According to a 2023 survey by the Korea Employment Agency for Persons with Disabilities, about 5 percent of the nation’s population is registe.
Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as well as a leading trading company, I will fulfill my responsibilities" to align with the company's n.
South Korean steel firm Posco Group has woven social welfare into its corporate strategies through its child care centers, open not just for their own workers but also those of its partner firms, as part of efforts to help tackle the nation's falling birth rate. The Shared Coexistence Work Child Care Centers, initiated in June 2020, are collaborative ventures between Posco and its suppliers, underscoring the gro.
Chang In-hwa, the new chairman of POSCO Group, embarked on a 100-day initiative to visit a number of the company s production sites and meet with employees as he believes that the key to becoming a top-tier firm lies in the workplace and its employees, the steel and battery maker said Sunday.