POSCO Inter selected as 'Caring Company' by Ministry of SMEs and Startups... 'Supporting Overseas Expansion of Small and Medium Enterprises'

POSCO Inter, Contributes 30 Billion KRW to Win-Win Fund... Fostering Promising SMEs and Venture Companies

[Asia Economy Reporter Ki-min Lee] Posco International announced on the 14th that it has been selected as a 'Caring Company' by the Ministry of SMEs and Startups in recognition of its contribution to supporting the overseas expansion of small and medium-sized venture companies in new industry sectors.

A Caring Company refers to a voluntary win-win cooperation company that goes beyond traditional cooperation centered on partner companies to share the capabilities and know-how possessed by the company with non-trading companies and small business owners.

On the same day, Kwon Chil-seung, Minister of SMEs and Startups, visited the Posco International headquarters in Incheon, presented a commemorative plaque for the Caring Company selection to Joo Si-bo, President of Posco International, and held a meeting with representatives of six small and medium-sized venture companies collaborating with Posco International.

The Ministry of SMEs and Startups explained the reason for selecting Posco International as a Caring Company, stating, "Posco International, as a comprehensive trading company in steel, energy, and food, is leading the support for small and medium-sized venture companies to pioneer overseas markets based on its cultivated global capabilities," and added, "It is a model case of win-win cooperation practicing active ESG (Environmental, Social, and Governance) management, such as issuing ESG bonds for the first time among trading companies."

On the same day, the Ministry of SMEs and Startups and Posco International also signed a memorandum of understanding (MOU) with the Foundation for Large and Small Enterprises and Agricultural Cooperation to strengthen the overseas competitiveness and ESG capabilities of small and venture companies.

Through this agreement, Posco International will utilize its network of over 80 overseas connections to help establish overseas business infrastructure for small and venture companies and jointly develop future businesses.

Additionally, based on its overseas business experience, Posco International will provide consulting for responding to international ESG evaluations and certifications, and support small companies in increasing productivity in a safe environment through replacing aging environmental and safety facilities and automating production facilities.

In particular, Posco International plans to contribute 30 billion KRW to the win-win cooperation fund to help promising small and venture companies grow into global innovative companies. Initially, 50 small and venture companies leading future industries such as biohealth and electric vehicles will be selected and nurtured, and after demonstration evaluations and performance analyses, the scale of support will be expanded.

Minister Kwon said at the meeting, "Through this agreement, we hope that small and venture companies in future industry fields such as biohealth, future vehicles, vaccines, and new materials will cooperate with Posco International and grow into K-unicorns."

President Joo also emphasized, "Based on the company's global capabilities, we have taken the lead in supporting small and venture companies to pioneer overseas markets," and added, "We will continue to practice the corporate citizenship management philosophy by creating win-win values that discover new business opportunities with small and venture companies through active ESG management."

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