POSCO Joins IndiaBUILDS Campaign to help the homeless POSCO partners as a corporate silver level sponsor in JCWP ‘06 Company to build houses for homeless in Orissa in 2007 POSCO’s global CSR continues focus on India Bhubaneswar, November 1, 2006:  POSCO, world’s third largest steel manufacturer, in yet another expression of commitment to social responsibility, became a silver level sponsor and lend volunteer support in the Habitat for Humanity’s IndiaBUILDS campaign under Jimmy Carter Work Project -2006 (JCWP’06) POSCO has partnered with JCWP’06 and as a silver sponsor and will contribute Rs.90 Lakh through two installments of Rs. 45 Lakh per year for the next two years. The JCWP’06 targets to build 100 houses in five days in Malavli near Lonavala, Mumbai. The drive will continue from 29th October to 3rd November, 2006. IndiaBUILDS is a five-year campaign of Habitat for Humanity, India and is designed to provide decent shelter for 250,000 people by 2010. The chief objective of the campaign is to build capacity to address the housing need for the poor. This year about 2500 volunteers across the globe have assembled in India. POSCO-India, Indian subsidiary of POSCO participated along with the mother company in the venture by lending volunteer support. Six employees from POSCO family along with home-partner families, celebrities and other volunteers are constructing single-storey houses. They are involved in fitting doors and windows, construction with cement blocks, fixing Mangalore tiled GI sheet roofs and house painting. POSCO has plans to replicate this initiative in Orissa and build affordable houses for the homeless with the budget for next year in collaboration with POSCO-India in 2007. Orissa is being a preferred destination for developmental activities as the company’s Greenfield project is located in the state. After signing the MoU, POSCO-CSR scheme has extensively focused on India and Orissa. Participation in JCWP ’06 comes close on the heels of the recent POSCO-TJ Park scholarship award and cleft-lip correction camp for the locals. Besides, POSCO-India itself is carrying out village friendly programmes for benefit of local residents. Speaking on the event, Mr. Soung-Sik Cho, Chairman-cum-Managing Director of POSCO-India said “POSCO-India has a comprehensive multidimensional approach towards development of local communities and has been seeking ways to improve life through various interventions like health initiatives, education and housing projects.”  This is the 23rd annual Jimmy Carter Work Project. The event has been held in Asia twice before; in Philippines and in South Korea. 2006 event is led by former US President Jimmy Carter and his wife Rosalynn Carter who have been actively involved with habitat for humanity for over two decades. The advisory committee for this year’s campaign comprises top Indian Industry leaders like Rajashree Birla, Deepak Parekh, Deshbandhu Gupta, Niranjan Hiranandani, Aroon Purie and others. Some of the best known organizations have joined Habitat for Humanity to break the cycle of poverty by providing decent, safe, affordable homes.   About POSCO Founded in 1968 and headquartered in the southeastern port city of Pohang in Korea, POSCO operates two of the world’s premier steel works--the Pohang and Gwangyang works. The Pohang works produces crude steel of 13 million tons and specializes in small-lot production of a broad range of products, including hot rolled and cold rolled sheet, plate, wire rod, electrical steel, and stainless steel. The Gwangyang works focuses on mass-production of limited high-demand products such as hot and cold rolled sheet and produces crude steel of 17 million tons. POSCO’s products are shipped to over 60 countries around the globe, satisfying some of the world’s most quality-sensitive customers.