POSCO C&C wants to buy 30 per cent of a joint venture with a company linked to Myanmar’s military. South Korean Churches and the South Korean government are highly critical of the junta.
Seoul (AsiaNews/Agencies) – A South Korean steelmaker today announced plans to end a joint venture with a company controlled by Myanmar’s military. The POSCO C&C owns 70 per cent of the joint venture.
After coming international pressure, the steelmaker said it wants to buy the 30 per cent owned by MEHL, which is linked to Myanmar’s Ministry of Defence. The latter has yet to respond.
POSCO C&C wants to remain in Myanmar; if MEHL refuses to sell, it will seek “other ways” to do business in the country.
South Korea and South Korean Churches have condemned Myanmar’s military coup, calling for a return to democracy. South Korean authorities have stopped arms sales to the Southeast Asian country.
South Korea is among the junta's most vocal critics. President Moon Jae-in has repeatedly called for an end to “the use of violence against the people of Myanmar.”
South Korea’s National Assembly and many governors identify with Myanmar's predicament since South Korea too went from military dictatorship to democracy in a struggle that saw defenceless South Korean civilians stand up to their own military.
In a statement, Justice for Myanmar together with the Korean Civil Society in Support of Democracy in Myanmar, welcomed POSCO C&C's decision.
The two advocacy groups urged the company to “immediately end all other business ties with the Myanmar military junta and its conglomerates”, including rent on land leased by entities associated with the military.