The completion ceremony of C5 was held by POSCO and POSTECH on Jan. 30. About three hundred people, including Pohang City Mayor Lee Kang-duk and Pohang City Council Chairman LEE Chil-gu, participated in the ceremony. The opening ceremony of  POSCO POHANG Center for Creative Economy was held together the C5 ceremony. C5 was built to promote convergence study and foster creative and talented students capable of meeting modern challenges. C5 is named for Creative, Collaborative, Cultivating, Convergence, and Center.
A total of 31.5 Billion KRW went into C5. CiTE will occupy floors 1 to 3 and research teams will use floors 4, 6, and 7. POSTECH will use an open-space floor plan to create space suitable for research. POSCO Pohang Creative Economic Center, a center operated by a private company, is located on the fifth floor of C5. The center aims to maintain the competitiveness of the steel industry, support start ups, and promote technology development in energy and material fields.
C5 is expected to actualize the “creative economic model for Pohang” through corporation with industry, university, and city. Another objective is to promote convergence study and technology commercialization.