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22/04/2021
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POSCO under Fire for Business Ties with Myanmar's Military

POSCO (formerly Pohang Iron and Steel Co., Ltd) is a South Korean steel-making company headquartered in Pohang, South Korea. Previously operated a joint venture with U.S. Steel, USS-POSCO Industries, in Pittsburg, California, United States, but U.S. Steel acquired full ownership of that facility in February 2020."

Cosco's HQs Seoul, Mar.11.– POSCO chairman Choi Jung-woo is seeking reappointment as chairman at a general shareholders' meeting slated for March 12. Yet he is facing strong opposition from progressive civic organizations and some lawmakers of the ruling Democratic Party.

A group of civic organizations held a rally on March 10 to criticize POSCO and Choi for promoting a coal-fired power plant project in Samcheok, Gangwon Province, and business ties with Myanmar's military-owned companies.

The rally was organized by KTNC Watch at the Catholic Center in Myeong-dong, Seoul, along with the Climate Crisis Emergency Action and the Association of Korean Citizens Groups Supporting Democracy in Myanmar. They were joined by the Catholic Climate Action, the People's Solidarity for Participatory Democracy, Buddhist Climate Action, the Korea Metal Workers' Union, and Youth Climate Action.

"Even though Korea has declared the realization of carbon neutrality by 2050, POSCO is continuing the construction of a coal-fired power plant in Samcheok, which will emit 12.8 million tons of greenhouse gases every year when completed," the 12 organizations said in a joint statement ...

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