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    A047050   KR7047050000

POSCO INTERNATIONAL CORPORATION

(A047050)
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End-of-day quote Korea Stock Exchange  -  2023-02-05
23300.00 KRW   +0.43%
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POSCO INTERNATIONAL : Builds a Youth Education Center in Uzbekistan

10/07/2022 EST
- Offering the youths interested in studying and working abroad with the opportunity to realize their potential

- A 3-floor foreign language education facility with classrooms, study rooms, a study cafe and more

- The company's eye health improvement project benefited 12,000 local residents since 2014


POSCO INTERNATIONAL (CEO Joo Si-Bo) held a ceremony on October 5th to celebrate the completion of the education center for the youth in Fergana, Uzbekistan.


Attending the completion ceremony was Bozarov Hayrullo, the Governor of Fergana, Kim Hee-Sang, the Ambassador of the Republic of Korea to Uzbekistan, Park Sang-Woo, Professor at Ajou University (Heart-Heart Foundation), and Cho Seung-Hyeon, the Head of POSCO INTERNATIONAL Textile LLC in Uzbekistan.


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The construction project of educational infrastructure was carried out in order to provide a space for the Uzbek youth to learn foreign languages as part of the coexistence project with the local community.


Among the Uzbek population of 30 million, the percentage of the youth in their teens and twenties is around 30%, with a significant number of them hoping to study or work abroad. Aside from the building the education center, POSCO INTERNATIONAL has continuously carried out scholarship projects for the Uzbek youth, in belief that educating the future generation is as meaningful as providing mutually beneficial contributions including medical and infrastructure support.


The completed education center has a total of three floors, with a study cafe and a public relations hall on the first floor; lecture rooms, self-study rooms, and teachers' offices on the second floor; and an auditorium, a lounge and more on the third floor. In addition, its educational equipment including computers and video cameras allows up to 100 students to study simultaneously.


Youths in the local community can now study foreign languages free of charge with the facilities and software available at the Youth Education Center. Furthermore, POSCO INTERNATIONAL plans to support customized foreign language education programs in cooperation with leading foreign language education businesses in Korea such as YBM Net and Ringle.


20221013085153.jpg


"Completed by POSCO INTERNATIONAL, the Fergana Youth Education Center for our future generations will empower the local youth with foreign language skills they need to branch out," said Bozarov Hayrullo, the Governor of Fergana, at the completion ceremony.


Kim Hee-Sang, the Ambassador of the Republic of Korea to Uzbekistan, said, "I am grateful for the support and efforts of POSCO INTERNATIONAL, for taking the lead in creating social values that go beyond economic profits."


First entering Uzbekistan with the establishment of its Tashkent branch in 1992, POSCO INTERNATIONAL has since opened a textile factory in 1996, based on which it has grown into the largest cotton spinning company in Uzbekistan. With approximately 4,000 employees, the company recorded an operating profit of $37 million last year.


The firm has been sustaining a cooperative relationship with the nation, having signed an MOA for the establishment of a cotton cluster in Uzbekistan in March this year, which is expected to expand the cultivation area from the existing 5,000 hectares to 35,000 hectares (120 times the area of Yeouido) by 2025.


POSCO INTERNATIONAL has been conducting local eye health projects since 2014 as well. Through its Community With POSCO project, the company has been providing pro bono ophthalmological treatment, surgery, and eyeglasses to a total of 12,000 local residents susceptible to eye diseases caused by the hot, arid desert climate of Uzbekistan.

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Posco International Corporation published this content on 07 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 October 2022 07:21:02 UTC.


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Sales 2022 38 437 B 30,5 B 30,5 B
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P/E ratio 2022 4,70x
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Last Close Price 23 300,00 KRW
Average target price 33 800,00 KRW
Spread / Average Target 45,1%
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Eun-Joo Choi Managing Director & Head-Investment Management
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Gi-Yeong Lee Independent Director
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