POSCO : Aids 500,000 AUD as Relief Fund for Australia Bushfire Emergency

l Donation made to Australian Red Cross through POSCO-Australia
l POSCO CEO Jeong-Woo Choi states, 'We hope this donation can aid in the recovery of the bushfire disaster in Australia. We are together with the suffering of the Australian people.'

On January 7, POSCO delivered 500,000 AUD to the Australian Red Cross through POSCO-Australia. This donation is to be used as a relief fund for the recent Australia bushfire crisis.

The donation was passed onto the Australian Red Cross following the resolution of the POSCO-Australia board of directors.

'We would like to aid in the recovery of the bushfire disaster in Australia, and share with the pain of the Australian people. Australia has been our good partner ever since POSCO was established. We hope that the bushfires would get extinguished soon', said POSCO CEO Jeong-Woo Choi.

Since 2002, POSCO has been playing a pivotal role in maintaining bilateral ties between Korea and Australia, as the Chair of KABC (Korea-Australia Business Council). POSCO, the largest client of Australia as a single business entity, imports five trillion KRW worth of resources annually and also directly invests in resources such as iron ore, coal, and lithium. Since his inauguration in 2018, POSCO CEO Jeong-Woo Choi has been the Chair of KABC.

The bushfire, which started from New South Wales in October, has been spreading throughout the state - and into other southeastern states including Victoria, and South Australia - due to unusually high temperatures and strong winds. NSW and Victoria have recorded the worst damages and declared a state emergency on January 3. At least 24 people have died, and the area burned has exceeded 6 million hectares - about 100 times the size of Seoul - destroying more than 2,000 homes.