Pupils demonstrate their handicraft products at “1 Percent Sharing Art School,” hosted by The POSCO 1 Percent Sharing Foundation. (Photos: POSCO)

The POSCO 1 Percent Sharing Foundation will implement two new projects this year to realize a better world. One of the foundation’s new projects aim to popularize art products made by disabled persons. Another program looks to supply advanced aid devices to persons of national merit.

They are among the 11 “excellent idea” entries selected in a public idea contest conducted by the foundation during the month of January.

The project to popularize art products made by handicapped persons claimed the grand prize, four won runner-up prizes, and six others were presented with participation awards. There were 271 entries.

The grand prize-winning project to popularize art products made by disabled persons was suggested by the Korea Disabled Artist Association, which found that 82 percent of disabled artists have no opportunities to announce their artistic produce.

Through the project, the foundation plans to explore artists who have expertise in culture and art fields, but remain unknown to people or have beautiful stories to convert despair into hope and challenging messages and provide support such as studio rental, filmmaking, and image content production and collaboration with famous YouTubers.

The foundation plans to make disabled artists’ hard work and talents known widely and provide more creative opportunities by publicizing content, produced by the beneficiaries, through POSCO’s in-house and outside channels, including POSCO YouTube channel POSCO TV.

The POSCO 1 Percent Sharing Foundation is a charity foundation operated by POSCO Group and its partner company executives and staff members.

Donations amounting to 1 percent of their monthly salaries funds the charity. The companies also contribute donations equivalent to those of their executives and staff members.

The donated money is used to promote the wellbeing of the underprivileged, provide support for the self-sufficiency of local communities, and promote culture preservation at several places around the world where POSCO has a presence.

POSCO to Create Second ‘GEM Matching Fund’ With U.S. Supplier

POSCO is continuing the global practice of its management philosophy ‘Corporate Citizenship’ by establishing the second GEM Matching Fund with an overseas raw material supplier. This follows the first fund created last year.

POSCO signed an agreement to form ‘The Second GEM Matching Fund’ at the POSCO Center on Feb. 24 with Yoo Byeong-Og, the head of POSCO’s Purchasing and Investment Division, Ernie Thrasher, President of Xcoal, and Kim Hyung-Soo, CEO of Tree Planet present. Xcoal is the largest coking coal exporter in the U.S. supplying POSCO with approximately 1 million tons a year.

Tree Planet is an eco-friendly social enterprise that implements forestation projects aiming to reduce fine dust.

The GEM Matching Fund, established by POSCO after the declaration of the Corporate Citizens Charter in July last year, is the first global matching fund organized between steel and mining industries. The initial fund named ‘Opal,’ was created last November with Australian coal supplier Yancoal.

In addition to the dictionary meaning of ‘jewel’, GEM also stands for ‘Go the Extra Mile.’ This symbolizes that POSCO is taking strides for the whole society.

Under the agreement, the two companies plan to each contribute $50,000, totaling $100,000 each year in a one-to-one matching grant system. The fund will be used for community support projects of both countries on an alternating basis.

This year is the first year of the second GEM fund. The first project is a forest restoration project where more than 60 employees from both companies are set to visit Okgye, Korea, in April.

Okgye suffered from a severe wildfire that devastated thousands of hectares of forests in April last year.

The employees, along with residents, will plant 11,000 trees on about 4 hectares of land. Due to this ‘green’ project, the second GEM fund is named ‘Emerald’ a green jewel.

Byeong-Og Yoo, the Head of POSCO’s Purchasing and Investment Division, said, “We are grateful to Xcoal for joining the GEM Matching Fund. We are also happy to help in restoring the Okgye area with Xcol’s past experience.”