POSCO said Friday it will pay 4 billion won in rewards to the bereaved family of the steelmaker’s founder Park Tae-joon, who passed away in December.
POSCO’s board of directors agreed on the amount based on company standards for severance pay for longtime employees, the steelmaker said.
“Honorary chairman Park devoted himself entirely to POSCO and the nation, and built the Pohang and Gwangyang steel mills with a distinguished leadership. We decided to offer special rewards in consideration of the fact that he was the driving force behind POSCO’s miracle,” the board said.
(
sophie@heraldcorp.com)
