(LEAD) POSCO to create 25,000 youth jobs over next 3 yrs: gov't

All News 16:25 November 10, 2021

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By Joo Kyung-don

SEOUL, Nov. 10 (Yonhap) -- The steelmaking conglomerate POSCO has promised to create 25,000 new jobs over the next three years as part of the government's youth job and education support project, the Prime Minister's Office said Wednesday.

POSCO and its affiliates will hire 14,000 people over the next three consecutive years and run support programs for partners and startups to recruit 11,000 people over that period.

The plan was revealed during a partnership announcement event between POSCO and the Prime Minister's Office on the government's youth job and education support program titled "Youth Hope ON" held at the POSCO Center in southern Seoul.

The event was attended by Prime Minister Kim Boo-kyum, POSCO Chairman Choi Jeong-woo, and other senior officials from the government and the conglomerate.

Prime Minister Kim Boo-kyum (4th from L), POSCO Chairman Choi Jeong-woo (5th from L) and other officials pose for a group photo at "Youth Hope ON" event at the POSCO Center in southern Seoul on Nov. 10, 2021. (Yonhap)

Under the "Youth Hope ON" project, the government provides financing to foster young talents, while a company offers education programs.

POSCO said it plans to expand recruiting for its new growth engines, such as rechargeable battery materials and hydrogen businesses.

It will invest a total of 536 billion won (US$453 million) in startups and small businesses to create 5,900 jobs over the next three years and will expand its employment support programs to help some 5,100 job seekers over the cited period.

POSCO is the fifth conglomerate to join the Youth Hope ON project after KT, Samsung, LG and SK.

With the latest partnership, the five conglomerates are committed to creating a total of 133,000 new youth jobs over the next three years, according to the Prime Minister's Office.

"We are also looking to expand the project with mid-sized firms and platform companies," Kim said after the event.

Kim also voiced hopes for the next government to receive the baton for youth job creation and come up with programs that also support people in their 30s looking to upgrade their jobs.

Meanwhile, the government said it also plans to help young people trying to establish their own businesses.

"We are thinking of opening government-owned technologies that are market-friendly and support young people's business models related to those technologies," said Koo Yun-cheol, head of the Office for Government Policy Coordination. "We will also support a business model that connects startups with retired scientists and engineers."