ENVIRONMENT HEADLINESEnvironment
Posco to Invest 7 Trillion KRW in Green Growth
Jan. 5, 2010 Posco recently announced plans to invest 7 trillion KRW in green growth sectors including synthetic natural gas, SMART nuclear reactors (using nuclear fission thermal energy), wind power, fuel cell for power generation, and smart grid in support of its green growth vision of “Global Green Growth Leader”.
For this investment, the Posco Family plans to work together to achieve 10 trillion KRW in sales by 2018 in green growth sectors. As Posco carries out its new green growth businesses, the company expects to create approximately 87,000 new jobs in related industrial areas.
In support of its green growth initiative, Posco and its major investor companies launched the “Posco Family Green Growth Committee” to promote green growth, implement environmental management, and discuss policies. Chaired by President Joon-yang Chung, the Posco Family Green Growth Committee’s membership includes 8 Posco executives representing the fields of technology, investment and R&D, including CEO Dong-hee Lee, as well as 10 representatives of investor companies including Posco E&C, POSDATA, and Posco Power etc.
The Posco Family Green Growth Committee has organized four sub-committees to carry out the master plan in detail, and will continue to and is monitor strategies and the progress of each task on a quarterly basis. Subcommittees are focused on low-carbon steel technology; response to climate changes; renewable energy; and new green growth initiatives.