POSCO Donates 400 Million KRW for Relief in Australian Bushfire Disaster Area

[Asia Economy Reporter Hwang Yoon-joo] On the 7th, POSCO will donate 400 million KRW (A$500,000) for Australian bushfire relief to the Australian Red Cross through its Australian subsidiary, POSCO Australia. The relief fund will be delivered to the Australian Red Cross after approval by the board of directors of POSCO Australia.

POSCO Chairman Choi Jeong-woo said, "We want to help with the recovery from the Australian bushfire disaster, which has escalated into a national catastrophe, and share the pain of the Australian people," adding, "I hope the bushfires in Australia, a friendly country that has been a major raw material supplier and investment destination alongside POSCO's development since its founding, will be extinguished as soon as possible."

Meanwhile, since 2002, POSCO has played a pivotal role in private exchanges between the two countries as the Korean-side chairman company of the Korea-Australia Economic Cooperation Committee. It is the largest customer purchasing raw materials worth up to 5 trillion KRW annually from Australia and also an investor directly investing in raw materials such as iron ore, coal, and lithium. Chairman Choi Jeong-woo has served as the chairman of the Korea-Australia Economic Cooperation Committee since his inauguration in 2018.

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