The headquarters of South Korea’s top steelmaker POSCO in Seoul. (Yonhap)
SEOUL, June 23 (Korea Bizwire) — POSCO, South Korea’s top steelmaker, said it has launched a talent cultivation program in collaboration with Brazilian mining giant Vale SA.
Under this program, the two companies agreed to offer support to young students from low-income households in South Korea and Brazil.
On Wednesday, POSCO donated US$100,000 to Korea Food for the Hungry International, an international relief program.
In May 2021, POSCO signed a memorandum of understanding with Vale for the creation of the ‘Go the Extra Mile’ (GEM) matching fund. Under terms of the MOU, the companies donated $50,000 each per year for two years.
After a group of Brazilian students in Maraba, home to a Vale iron ore mine, were offered support for their university entrance exams last year, this year, some 30 Korean middle and high school students are expected to receive financial aid and career mentorship through the program.
Thus far, POSCO has raised a total of $2 million together with 10 suppliers through various GEM matching funds.
J. S. Shin (js_shin@koreabizwire.com)
