Creation of the “UNESCO - POSCO 1 % Foundation” Fund
Audrey Azoulay, Director-General of UNESCO, and Jeong-shik Kwak, Director-General of the South Korean Conglomerate “POSCO 1% Foundation”, signed a partnership framework agreement on 8 January 2018, establishing the “UNESCO-POSCO 1% Foundation” Fund.
The Fund will provide USD 900,000 over the next three years to carry out common projects in the fields of culture and education.
The Director-General of UNESCO thanked Jeong-shik Kwak for his active support to the Organization’s work and underscored that this agreement represents an important contribution to UNESCO’s broader efforts in education and culture to move forward the Sustainable Development Goals (SDGs), for which she highlighted the crucial role of the private sector.
Established in 2013 by the South Korean Conglomerate POSCO, “POSCO 1% Foundation” supports philanthropic projects focusing on local communities, rising generations, green planet issues, diversity and cultural heritage. The Foundation is operated by a Fund to which employees, affiliate companies and outsourcing companies share 1% of their salary for philanthropic projects.