In his later years he participated in awarding the Chungam prize every year. According to authorities of POSCO, “The National Commission give an award to Park Taejoon for contributing to national development.” The National commission also remade 6 out of his 7 medals (2 Chungmugong medals, 3 Hwarangmugong medals, Mugunghwa medal, Gumtap-industry medal) as a memorial to him. The National Commission placed 6 remade medals except for Gumtap-industry medal at the mortuary during his funeral. According to Japan's Mitsubishi Research Institute, POSCO was able to succeed as a leader in promoting venture leadership and insight. Chairman Park Taejoon has demonstrated sufficient commitment to the creation of Harvard Business School and Seoul National University. The major factor in the success of POSCO is "outstanding leadership of President Park Taejoon". In addition, in a Stanford Business School study released a report that called the "outstanding leadership of President TJ Park" critical to the development of South Korea. He created apartment complexes for the employees of POSCO, while paying more attention to the composition of the highest level of housing complexes, including preschool for children was established. He established Pohang University of Science and Technology in 1986. In 1971 he established the POSCO Scholarship Foundation. Its goal was to expand the existing "Taejoon Park Foundation", launched in September 2005. It worked to promote cooperation in Asia, next-generation human resource development, and participation and sharing of practice Republic of Korea under the three strategies Asia uses to promote business. On June 16, 2008, the Board of Directors at POSCO Center selected Park Taejoon as president of the foundation. POSTECH (Pohang University of Science and Technology) has been awarded scholarships each year in recognition of its founder's contributions to the development of Park Taejoon Prize. In 2011 Tae-joon was inducted into the inaugural class of the American Metal Market Steel Hall of Fame (http://www.amm.com/HOF-Profile/ParkTaejoon.html) for his substantial role in turning South Korea into one of the most industrialized nations on earth. Park Taejoon went to Lyamabuk Middle School. He was mobilized into steel manufacture service during the second world war. It was his first encounter with steel. At that time, the director of the workplace noticed that he had a talent for the sintering process. The relationship with Park Chung-hee(3rd President of South Korea) started from 1947 when they were in the military.