Posco to donate A$500,000 for Australian bushfire relief

South Korea’s leading steelmaker Posco will donate 500,000 Australian dollars ($347,000) for Australian bushfire relief via its regional corporation there, the company said Tuesday.

According to Posco, the relief fund will be delivered to the Australian Red Cross after the decision passes at its Australian corporate board of directors meeting. 

“We wish to help relief of the disastrous bushfire and share the burden with Australians,” Posco Chairman Choi Jeong-woo said.

Since 2002, Posco has held the chair of the Korea-Australia Business Council. Posco annually imports about 5 trillion won ($4.2 billion) in raw materials from Australia, and is also a direct investor to the country’s iron ore, coal and lithium.

Since fires broke out in Australia in September, at least 25 people have been confirmed killed and dozens are missing. Over 2,000 homes have reportedly been destroyed and millions of hectares of land are scorched.

By Jo He-rim (herim@heraldcorp.com)