About the company
Posco is a South Korean steelmaking company. It is one of the largest steelmakers in the world. In Burma it is in a joint venture with the military controlled Union of Myanmar Economic Holdings LTD (UMEH).
Chief Executive Officer
Republic of Korea
Financial Times 1st February 2017
Posco website media release 24th December 1998
Metal Bulletin 14th June 2001
Notified 5 November 2018
15 February 2021
“3. Regarding the Burma Campaign UK Article dated February 5, 2021
We have suspended all dividend payments to MEHL, which is a joint venture partner of POSCO C&C, until it is confirmed that the dividends paid by POSCO C&C have not been used for any purposes violating the human rights. We are currently verifying that dividend payments collected by MEHL have not been used for human rights violations and seek to ensure that the dividends shall not be used for such purposes in the future. If the allegations regarding the illegal activity by MEHL in use of its dividend are found to be serious, we are considering a thorough review of our joint venture relationship with MEHL by referencing the precedent of KIRIN, which was also cited in the said Burma Campaign article.”
Added to the Dirty List 11 December 2018
The Dirty List names international companies doing business with the military in Burma. The list also includes international companies involved in projects where there are human rights violations or environmental destruction.
In September 2018, the United Nations Fact Finding Mission on Myanmar, which has been investigating human rights violations in the country, stated:
“The actions of the Tatmadaw (Burmese military) in Kachin, Rakhine and Shan States, in particular in the context of the ‘clearance operations’ in northern Rakhine State in 2016 and 2017, have so seriously violated international law that any engagement in any form with the Tatmadaw, its current leadership, and its businesses, is indefensible.”