POSCO Launches 'Dongbansungjang Support Team' Program to Support SMEs

Intel Steel, JY Korea, and 14 Others Participate... 9.3 Billion KRW Achieved Last Year

Lee Joo-tae, Head of POSCO Purchasing Investment Headquarters, poses for a commemorative photo on the 23rd during a non-face-to-face kickoff event with representatives of small and medium-sized enterprises participating in the '2022 POSCO Win-Win Growth Support Group.' (Photo by POSCO)

[Asia Economy Reporter Moon Chaeseok] POSCO held a non-face-to-face kickoff event for its customized consulting program for small and medium-sized enterprises (SMEs), the 'POSCO Win-Win Growth Support Group,' on the 24th. The kickoff event held the day before was attended by Lee Jutae, Head of POSCO Purchasing and Investment Headquarters, Kim Taeok, Head of POSCO Equipment and Material Purchasing Office, and representatives from seven SMEs eligible for support.

The Support Group is a win-win program for SMEs where POSCO’s leadership-level employees diagnose chronic difficulties such as equipment management and technology smartization and provide solutions. This year marks the second year since its launch. In this year’s win-win growth support activities, a total of 16 companies will participate, including eight newly supported companies such as Daehwa Gear Reducer and NTC Neotec, as well as eight existing supported companies such as Intel Steel and JU Korea participating in follow-up support programs.

Jung Hwail, CEO of Intel Steel, said, "Through participation in the Support Group activities last year, we were able to achieve a breakthrough improvement in material lifespan and expand sales," adding, "We have high expectations as we participate in the follow-up support program this year."

This year, the focus will be on ▲ one-point pinpoint support to improve current issues in a short period ▲ mid- to long-term comprehensive consulting to strengthen corporate capabilities ▲ and the transfer of innovation techniques to establish a culture where SMEs can innovate on their own.

Head Lee said, "Since the performance of the Support Group’s activities last year has been confirmed, we expect even more results this year," and urged, "Please openly share individual companies’ difficulties and problems during the consulting process and work together to correctly approach the root causes of the problems."

In its first year since launch, the Support Group identified 72 tasks centered on four areas for 19 SMEs: ▲ smart factory construction ▲ ESG (environment, social, governance) issue resolution ▲ equipment and energy efficiency ▲ technology and innovation. As a result, it achieved financial performance of 9.3 billion KRW.

One of the beneficiary companies, Intel Steel, received a patent license and achieved a sales increase of 1 billion KRW. Korean Clad Tech, a kitchenware furniture manufacturer, also solved employees’ headache problems by utilizing the 'Smart Safety Ball,' a harmful gas detection tool jointly developed by POSCO and the startup Nodotox.

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