Source: POSCO Website
Korean steel conglomerate POSCO, the world’s third largest steelmaker, is already quite well known for establishing social enterprises that have created jobs for hundreds of disabled individuals. The company’s eagerness to share growth with those marginalised from the mainstream society has been proven once more in early January 2013, when it launched the social enterprise POSCO HUMANS. The new venture is a merger of POSWITH and POSECOHousing, both established social enterprises launched by the steel group. According to POSCO, “The merger deal came for synergy effect and management efficiency. The newly established social enterprise will focus on offering jobs for socially disadvantaged people, including disabled and multicultural family members”.
POSWITH and POSECOHousing
The venture POSWITH, POSCO’s first social enterprise, was established in 2007 and enabled disabled individuals to work in cleaning or in the office supporting service areas of POSCO. It has become known for creating a unique work environment for its employees, encouraging them to laugh at least once every minute, be grateful for life three times a day and read more than two books a month. Approximately 52% of the venture’s employees are physically challenged.
The second company, POSECOHousing, was established in 2009 and also aimed to offer jobs for socially disadvantaged groups. It developed an environmentally friendly steel-housing manufacturing business and is POSCO’s largest social enterprise. Approximately 55% of POSECOHousing’s workforce possess from socially disadvantaged backgrounds.