Over the next five years from 2019, South Korea's Posco steel company will invest 45 trillion won (US $ 40.5 billion) in its steel and clean energy facilities, creating about 20,000 jobs in the process. in a company message on Monday.
The plan marks the first major investment announcement by the company's ninth chairman, Choi Chung-woo, who took office in July.
“To lead the global metals industry and become a manufacturing pioneer in the fourth industrial revolution, we need to start investing and secure a high level of workforce,” Choi said in a statement.
The investment scale is 2.5 times the 18 trillion won that Posco invested from 2014 to 2018.
In this process, the company is expected to employ about 20,000 permanent workers - 10,000 in the steel sector, 5,000 in the logistics and energy business and 5,000 in infrastructure-related projects, along with about 120,000 additional jobs. person, the company said in a statement.
The number of jobs created is about 190 percent more than the 7,000 or so people the company has hired over the past five years.
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