Posco pledges to hire 6,000 new employees by 2020

Korea’s top steelmaker Posco said Tuesday it will hire 6,000 full-time employees by 2020, in line with the government’s policy of raising job prospects for young people.

Posco has hired about 1,000 full-time employees a year, but it will increase the number of job offerings to 1,500 a year.

President Moon Jae-in has pledged to encourage companies to hire more full-time “regular” workers.

In a statement, Posco said the move is aimed at joining the government’s job creation campaign and securing a workforce for the company’s future, in order to cope with the so-called fourth industrial revolution.

Posco has planned to focus on materials for electric batteries as well as plant systems using the Internet of Things and artificial intelligence.

To help ease financial burdens for its suppliers, Posco will increase funds provided to suppliers by 50 billion won ($43.8 million) to 550 billion won, the company said.

The funds help Posco pay its small and medium-sized suppliers in cash that can help them in times of financial difficulty. YONHAP