Posco International: Operating a gas project with Myanmar’s sanctioned, murderous regime 

While other OECD energy companies left Myanmar after the 2021 coup, Posco — one of the 250 largest companies in the world by revenue — not only stayed but invested hundreds of millions of dollars to expand the Shwe gas project, despite claiming to follow OECD and other standards on human rights. Posco says its gas serves the people of Myanmar by fueling power plants to provide electricity. But a growing amount of gas appears set to imminently flow to junta steel mills linked to arms manufacturing — while electricity shortages have worsened since the coup amid widespread shutdown of gas-fired power plants once supplied by Shwe gas. The pipeline that transports Shwe gas to its primary customer in China faces risk of damage from intensifying fighting between the junta and resistance forces in northern Myanmar. Posco also runs a luxury hotel on land leased from the regime, and the company is currently awaiting a trial in South Korea on claims it illegally sold a warship to the military.

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