POSCO pledges to support Ukraine's post-war reconstruction

By Lee Min-hyung, The Korea Times - POSCO Group Chairman Choi Jeong-woo has pledged to support the reconstruction of Ukraine by operating a range of projects in areas such as energy and infrastructure, so that the nation can overcome the devastation the war wreakedon it in a timely manner.

Choi displayed his willingness during a meeting with a delegation from Ukraine’s parliament. The delegation included Ukrainian lawmakers, Andriy Nikolayenko and Serhiy Taruta, and Ukrainian Ambassador to South Korea Dmytro Ponomarenko.

"The South Korean government is committed to supporting Ukraine's reconstruction efforts, and Korean companies, such as POSCO Group, are actively participating in this effort,” Choi said. “The partnership between our two countries will be further strengthened. POSCO Group will consolidate all its capabilities to initiate reconstruction projects as soon as possible."

In March, the steelmaker launched the so-called Ukraine Reconstruction Taskforce, and it is standing at the forefront for a possible series of rebuilding projects for the country in five areas: steel, food, secondary battery materials, energy and infrastructure. The company is also set to accelerate humanitarian cooperation by engaging in education-based projects for the country, it said.

In the field of steel, POSCO aims to engage in various forms of cooperation, including energy production for steel manufacturing through Ukraine's steel reconstruction program.

POSCO International has also been expanding the sales volume of grain terminals operated in Mykolaiv, Ukraine, since 2019, as part of its efforts to provide more food support there. POSCO Group is considering expanding business ties with Ukrainian firms in the areas of secondary battery materials and energy.

Both countries plan to explore ways to utilize steel modular houses there, as this can dramatically shorten construction periods. Modular construction is an innovative way to cut construction periods by up to 60 percent from conventional ones, and is good for the environment, as it allows reuse and recycling. Modular buildings are prefabricated in factories and quickly assembled on site.

POSCO is also running a special student exchange program for university students there. Selected students can gain an opportunity to study at the Pohang University of Science and Technology for a year.

Source: https://www.koreatimes.co.kr/www/tech/2023/10/419_360746.html 

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