POSCO Gwangyang Steelworks Purchases Over 7.8 Billion Won of Gwangyang Sarang Gift Certificates

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Gwangyang City announced that POSCO Gwangyang Steelworks has decided to purchase approximately 7.8 billion won worth of Gwangyang Love Gift Certificates ahead of Chuseok to revitalize the stagnant local economy.

This decision follows the 2020 wage collective agreement of the POSCO Labor Union, which stipulated that about 7,000 employees would each receive 500,000 won worth of gift certificates, totaling 3.4945 billion won.

Additionally, it was decided to provide gift certificates worth about 4.3 billion won to employees of partner companies, bringing the total purchase of Gwangyang Love Gift Certificates to approximately 7.8 billion won.

On the 10th, at the city hall reception room, Gwangyang Mayor Jeong Hyun-bok and POSCO Executive Vice President Kim Jeong-su attended a signing ceremony for the purchase of Gwangyang Love Gift Certificates, reaffirming their commitment to the recovery of the local economy.

In particular, with social distancing measures at level 2 causing a decline in sales for local small business owners, the purchase of gift certificates is expected to serve as a catalyst for the recovery of the local economy.

Lee Si-woo, head of POSCO Gwangyang Steelworks, said, “As a corporate citizen, we decided to purchase Gwangyang Love Gift Certificates to achieve mutual growth with local residents,” adding, “We hope that increased consumption before the holiday will help the local economy.”

Mayor Jeong Hyun-bok of Gwangyang City expressed gratitude, saying, “We thank Gwangyang Steelworks for taking the lead in revitalizing the local economy,” and added, “POSCO’s purchase of Gwangyang Love Gift Certificates is expected to revive the real economy, which has been stagnant since COVID-19, and greatly support increased sales for small business owners.”

Meanwhile, POSCO Gwangyang Steelworks has continuously contributed to the development of the local economy by providing significant support to the real economy, including purchasing 7.5 billion won worth of Gwangyang Love Gift Certificates and Onnuri Gift Certificates in 2018.

This content was produced with the assistance of AI translation services.