The name reflects the foundation’s goal of reconnecting people facing hardship after workplace accidents with hope for reintegration. POSCO Group plans to contribute a total of 25 billion won over the next five years to secure a stable operating base for the foundation.
The foundation’s board was formed with experts in labor, medicine, law and welfare, recommended by figures from a range of outside sectors.
At the inaugural general meeting, Chang In-hwa, POSCO Group chairman and the foundation’s first chair, said companies should show genuine commitment and a strong sense of social responsibility to help workers and families left in blind spots of industrial accident compensation. He said POSCO will do its best to establish the effort as “a new model social safety net.”
The foundation will focus on three areas: emergency living expenses to stabilize households immediately after an accident; caregiving support to improve treatment conditions for injured workers; and “Youth Hope Self-Reliance Support” to help children continue their education. It will prioritize injured workers and families at small workplaces with fewer than 50 employees in the higher-risk construction and manufacturing sectors, and plans to work with related organizations including the Korea Workers’ Compensation and Welfare Service and the Korea Student Aid Foundation.
A POSCO Group official said the company will expand fast, practical support from the perspective of victims and their families who fall outside compensation coverage, while also promoting an industrial safety culture in which workers take the lead in preventing accidents, and will work to help build “a safer South Korea.”
* This article has been translated by AI.
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