POSCO Donates W3.64 Billion for Ferry Disaster Victims

POSCO is donating W3.64 billion to the Community Chest of Korea to support the families of ferry disaster and to build safety infrastructure, the steelmaker said Sunday. (US$1=W1,025).

POSCO and its affiliates came up with W3 billion, and the remaining W640 million was raised through a campaign the company carried out encouraging staff to donate one percent of their salary.

Company chairman Kwon Oh-joon said POSCO hopes that a stronger safety infrastructure will help prevent another accident like the ferry disaster that killed some 300 people.

englishnews@chosun.com / May 26, 2014 13:00 KST