Posco offers support for the youth, start-ups

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Posco offers support for the youth, start-ups

Posco holds the Idea Market Place online business presentation with venture business representatives on Dec. 15. [POSCO]

Posco holds the Idea Market Place online business presentation with venture business representatives on Dec. 15. [POSCO]

The idea of facilitating mutual growth and youth employment support has remained at the forefront for Posco. As a domestic and global trendsetter, Posco’s social contributions shone bright thanks to its youth employment and start-up supporting program Posco Youth Dream and Idea Marketplace.

Posco’s goal was to provide a helping hand to young people seeking employment. By initiating the Posco Youth Dream program in 2019, which provides various employment-related experiences, Posco is approaching its initial ambition.

“Posco Employment Academy” is one part of the program. This three-week course aims to teach job-seekers knowledge that is useful before and after employment. With the assistance of actual recruitment specialists and working managers, participants will get a chance to revise their resumes and interviewing strategies. “The academy’s actual job-based problem-solving strategy did help me in understanding how to apply a practical solving mentality in my work fields and during interviews,” said a program graduate.

Posco is also jointly hosting “Youth AI•Big Data Academy” with Pohang University of Science and Technology. In this 11-week class, participants will get a chance to be acquainted with the basis and practical usage of artificial intelligence-related knowledge and big data in real-life workplaces.

The program also offers tutoring for those wishing to start their own companies. “Start-up Incubating School” provides a wide age range of participants’ basic knowledge to establish a start-up such as business item specification, building an air-tight business plan, intellectual property rights and labor laws. Since its beginning in 2019, approximately 2,200 people graduated from the Posco Youth Dream program, of which 800 succeeded in finding a job and successfully founded a start-up. Posco plans to continuously revamp and improve the program to reach 5,500 graduates by 2023.

As much as human resource development is crucial to the market and economy, providing promising businesses a better chance and tools is of equivalent importance. Posco’s Idea Market Place (IMP) was created to fulfill such a task. For the past nine years, IMP invested a total of 20.3 billion won ($18 million) into 111 venture businesses. Posco and Postech Holdings set up “Idea Market Place Fund No. 1” worth 5.1 billion won ($4.6 million) last September to financially assist selected venture businesses.

Posco held an online ceremony for the six selected venture companies of the 20th IMP on Dec. 15. The six companies gave a virtual presentation on their business roadmaps for the future and held Q&A sessions with online participants. With Postech’s technical support and Posco’s financial aid, Posco will continue being a backbone for venture businesses.

By Ahn Tae-lahm [ahn.taelahm@joongang.co.kr]
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