Pohang City, Senior Officials Support Victims in Blind Spots Using 'Spare Change' from Salaries

'1% Sharing by Senior Officials' 65 Million KRW and Corporate Donations Including 85 Million KRW from POSCO Added

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] Pohang City announced on the 7th that it will provide emergency survival funds to find blind spots where people are struggling to make a living due to business closures and income reductions caused by COVID-19.

This support fund will primarily be financed by donations from Pohang City Hall executives and designated contributions from POSCO's Fruit of Love. Pohang City plans to select recipients as soon as possible and distribute the funds before the Lunar New Year holiday.

The recipients are about 500 households whose income has decreased, including small business owners excluded from the government's 3rd disaster relief fund, employees of small businesses, street vendors, daily workers, and workers in businesses subject to gathering bans or operational restrictions. The payment amount is 300,000 to 500,000 KRW per household.

In this regard, POSCO, a leading local company, was the first to donate 85 million KRW to Pohang City. Voluntary donations from various companies such as Ecopro BM, Samwon Steel Co., and POSCO Wire Rod Division are continuing.

POSCO also carries out various support activities for mutual growth with the local community, including diverse welfare projects through the '1% Sharing Foundation' every year.

For this vulnerable group support project, 65 million KRW collected through the '1% Sharing' by Pohang City Hall executives, which started in 2015, will also be invested.

The '1% Sharing by Pohang City Hall Executives' is a donation fund collected from the leftover salaries of about 100 executives at grade 5 or higher. The funds raised in this way are used to help vulnerable groups in the region or Pohang citizens facing difficulties due to social crises.

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