POSCO Contributes 4 Billion KRW to Foundation for Victims of Japanese Forced Mobilization (Update 2)

POSCO announced on the 15th that it has donated 4 billion KRW to the Foundation for Victims of Forced Mobilization under Japanese Rule.

POSCO explained, "Following the government's (Ministry of Foreign Affairs) statement on the Supreme Court ruling regarding forced labor on the 6th, we voluntarily decided to contribute the remaining 4 billion KRW based on the agreement to donate 10 billion KRW to the foundation, in accordance with the government's announcement intent."

[Image source=Yonhap News]

Our government announced on the 6th a solution for compensation for forced labor victims who received a final Supreme Court ruling, stating that the compensation and delayed interest will be paid through the foundation. It also stated that the funds will be raised through voluntary contributions from the private sector.

POSCO decided to donate 10 billion KRW to the foundation through a resolution of the POSCO board of directors in March 2012, and has donated 6 billion KRW in total, 3 billion KRW each in 2016 and 2017. Following the recent government announcement, POSCO fulfilled its promise with the foundation by contributing the remaining 4 billion KRW that had been withheld.

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