Posco, partner firms up efforts to boost local economy

Posco said Tuesday it is promoting “good consumption” with its partner companies by making advance payments in traditional markets for vouchers to revive local economies depressed by the COVID-19 outbreak.

On May 21, Posco Group and its 90 partner suppliers that provide equipment in Pohang, North Gyeongsang Province, and Gwangyang, South Jeolla Province, bought grocery vouchers from traditional markets there to donate to the socially vulnerable.

Posco said the group and its partners had 165 employees visit the Yeonil Traditional Market in Pohang and Jungma Market in Gwangyang, and spent 20 million won ($16,500) in each market.

Posco held the same event for a second time Tuesday.

Under the event, which is in line with the government’s relief measures, the companies indirectly contributed to the sales of local markets, and also supported the socially vulnerable by donating the grocery vouchers, the company explained.

By Jo He-rim (herim@heraldcorp.com)