POSCO's 1% Foundation supports veterans, students, local communities
POSCO Group’s 1% Foundation is expanding its community programs, supporting veterans with disabilities, providing hands-on science education for teenagers and funding employee-led projects to address local needs. The nonprofit foundation, established in 2013, is funded by employee donations of 1 percent of monthly salaries and matching contributions from their companies. As of last year, 38,017…
The POSCO Group's 1% Foundation is broadening its community initiatives, focusing on aiding veterans with disabilities, offering science education to adolescents, and funding projects initiated by employees to address local needs. Founded in 2013, this nonprofit foundation derives its funding from employee donations of 1 percent of their monthly salaries, complemented by matching contributions from their respective companies.
As of the previous year, 38,017 POSCO Group employees contributed to the foundation's donation program.
In 2020, the foundation began providing advanced assistive devices to veterans, service members, and firefighters who were injured while serving, in collaboration with the Ministry of Patriots and Veterans Affairs. This ministry assists in identifying recipients and assessing their needs. Devices distributed thus far include a robotic walking aid for a veteran who experienced paralysis in one leg following a fall during military service, and a prosthetic arm for another veteran who lost his right arm during a coastal surveillance operation.
While the government provides assistance based on the extent of service-related injuries, the expenses can be substantial.
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- POSCO's 1% Foundation supports veterans, students, local communities koreatimes.co.kr
