Posco 1% Foundation celebrates 10-year milestone
![Posco Group Chairman Choi Jeong-woo, center, makes this year's first donation for the Posco 1% Foundation's 1% My Little Charity campaign on Nov. 8, during the foundation's 10-year anniversary ceremony held at Posco Center in southern Seoul. [POSCO HOLDINGS]](https://koreajoongangdaily.joins.com/data/photo/2023/11/29/1ba3142c-e377-4a04-aec2-53c088fc03b8.jpg)
Posco Group Chairman Choi Jeong-woo, center, makes this year's first donation for the Posco 1% Foundation's 1% My Little Charity campaign on Nov. 8, during the foundation's 10-year anniversary ceremony held at Posco Center in southern Seoul. [POSCO HOLDINGS]
The Posco 1% Foundation, a charity organization run by Posco Group, has reached the 10-year milestone since its formation.
Established in 2013, the nonprofit foundation operates on a matching grant basis, wherein employees at Posco companies and the group’s partners contribute 1 percent of their monthly income, with the company matching the donation amount.
The 1 percent donation campaign first began with Posco’s management and was joined by regular employees in 2013. Posco 1% Foundation was officially established in November of that year upon the government’s approval.
After a decade of operation, the foundation’s yearly donations amount to over 10 billion won ($7.8 million).
As of November, the Posco 1% Foundation has 35,000 contributors and donated 89.8 billion won to 303,844 recipients in total, making it one of the largest among nonprofit organizations run by Korean private companies.
The foundation held a ceremony on Nov. 8 to commemorate its 10-year anniversary, with its chairman and Posco Group CEO Choi Jeong-woo in attendance.
Posco 1% Foundation handed plaques of appreciation to three of its long-standing donors, including its supplier KYEC.
Among the recipients of the plaques were also representatives from the foundation’s nonprofit partners in charity works including Walk Together and Habitat Korea.
“Posco Group’s 1-percent donation campaign is one of the most prominent examples of a company taking a lead in changing our society into a warmer, brighter place,” said Kim Jong-hoon, chairman of Walk Together, a nonprofit organization supporting people with disabilities.
Posco employee Jo Jang-seok was recognized as an individual awardee by the foundation for his contribution to charitable works.
Jo has been previously recognized for saving two people from drowning in a fishing boat collision during his time in the Korean Navy and donated 10 million won to Posco 1% Foundation in 2021 on his first anniversary as a Posco employee.
During the ceremony, Choi kicked off the foundation’s annual donation campaign named 1% My Little Charity by making this year’s first donation for the event.
First established in 2018, the 1% My Little Charity is Posco’s annual winter season charity program where donors can choose which area they want to make a contribution to through an online platform.
The foundation also unveiled a new brand logo upon its 10th anniversary during the event.
“Posco Group and its suppliers have worked together with various partners to provide solutions for social issues over the past 10 years since the establishment of the Posco 1% Foundation,” said Posco Group Chairman Choi.
“Let’s continue to bring contributions from each of us together to build the miracle that changes the world into a better place,” Choi added.
BY SHIN HA-NEE [shin.hanee@joongang.co.kr]
with the Korea JoongAng Daily
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