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MarketScreener Homepage  >  Equities  >  Korea Stock Exchange  >  POSCO    A005490   KR7005490008

POSCO

(A005490)
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POSCO : Participates in a Regional Regeneration Project

11/27/2020 | 04:23am EST

l POSCO establishes a 'Youth Share House' model village made of steel for young people wishing to return to rural areas
l Public-private partnership project promoted to resolve social issues including low birth rate and local extinctions

POSCO (CEO Jeong-Woo Choi) had promoted a public-private partnership project, the 'Good Neighbor Model Village,' together with Uiseong-gun in Gyeongsangbuk-do Province, and it is showing tangible results.

Before 2018, Uiseong-gun, Gyeongsangbuk-do Province, was the country's top region at risk of extinction due to a continued decrease in population for five years, with local elementary, middle, and high schools closing down.

Since last year, Gyeongsangbuk-do Province and Uiseong-gun have prioritized regenerating the rural areas by revitalizing existing areas and establishing new areas to overcome the crisis of low birth rate and local extinctions. POSCO also joined in establishing the 'Good Neighbor Model Village' so as to attract the youth.

The 'Good Neighbor Model Village' includes share houses for young people wishing to return to rural areas and aims to foster youth employment and housing as well as education, culture, and welfare. The project supports youth startups, nurtures young farmers using smart farms, establishes an AI elementary school, and urban regeneration.

Through this public-private partnership project between Gyeongsangbuk-do Province, Uiseong-gun, and POSCO, Uiseong-gun ranked first in rural migration among 23 cities and counties in Gyeongsangbuk-do Province. Also, in total fertility rate last year, Uiseong-gun recorded the third highest in the country and the first in Gyeongsangbuk-do Province.

POSCO and Uiseong-gun constructed 6 steel houses respectively accommodating 12 households, in an area of around 2,809 m². And on November 20, the completion ceremony for the 'Youth Share House' was held with Gyeongsangbuk-do Province Governor Cheol-Woo Lee and Uiseong-gun Head Ju-Soo Kim attending.

The 'Youth Share House' features excellent durability since PosMAC, POSCO's World Top Premium (WTP) product, was applied to its frame and exterior. On the inside, the building is equipped with basic appliances like a refrigerator and an air conditioner to help youths settle down in the new environment without any inconvenience.

Meanwhile, POSCO declared Corporate Citizenship as its management philosophy and selected 'presenting a role model to address the issue of low birth rate in society' as one of its 6 major projects. In July this year, the company hosted the '2020 Low Birth Rate Symposium' under the theme of 'The Era of Demographic Cliff & Collapse of Provincial Cities: the Future Lies in a Country Where Young People Are Happy.' POSCO is currently operating various POSCO-type childbirth policies, including support for infertility expenses and maternity benefits, workplace childcare centers, and working-from-home for childcare without career breaks.

▲ The 'Good Neighbor Model Village' built by POSCO together with Gyeongsangbuk-do Province and Uiseong-gun

Disclaimer

POSCO published this content on 27 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 November 2020 09:22:03 UTC


© Publicnow 2020
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Sales 2020 57 764 B 51,6 B 51,6 B
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P/E ratio 2020 16,1x
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Nbr of Employees -
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Number of Analysts 28
Average target price 319 892,86 KRW
Last Close Price 259 500,00 KRW
Spread / Highest target 50,3%
Spread / Average Target 23,3%
Spread / Lowest Target -3,66%
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Jeong-Woo Choi Co-Chief Executive Officer & Director
In-Hwa Chang Co-President, Co-CEO & Director
Seung-Kyu Lim Senior Managing Director & Head-Finance
Hag-Dong Kim Director & Senior Executive Vice President
Tak Jeong Director, Senior EVP & Head-Marketing
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