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POSCO Declares ‘Corporate Citizenship Management Standards’

2020/07/31

l POSCO declares ‘Corporate Citizenship Management Standards’ and pledges to implement its management philosophy, Corporate Citizenship
l This year marks the second anniversary of POSCO’s management philosophy ‘Corporate Citizenship,’ and the first anniversary of the declaration of ‘POSCO Charter of Corporate Citizenship’
l POSCO presents a ‘POSCO Charter of Corporate Citizenship Media art,’ which embodies the commitment of POSCO employees and executives

POSCO held a strategy meeting to discuss the company’s Corporate Citizenship activities for the first half of 2020 and declared Corporate Citizenship Management Standards (CCMS), a guideline for its employees to implement its philosophy. The Standards demonstrate the commitment of the company to carry out the Corporate Citizenship principle and continue to grow into a 100-year company.

At the meeting, POSCO CEO Jeong-Woo Choi remarked on tracing its footsteps regarding “Corporate Citizenship” and practicing Corporate Citizenship to overcome the challenging industry situation amid the COVID-19 issue.

▲ POSCO CEO Jeong-Woo Choi is giving an explanation on ‘POSCO Charter of Corporate Citizenship’ at the unveiling event of the media art (From right: POSCO CEO Jeong-Woo Choi and Artist Lee-Nam Lee)

The meeting was attended not only by domestic business sites in Seoul, Pohang, and Gwangyang but also by overseas subsidiaries worldwide. Around 100 attendees, including POSCO executives, Representative Directors of group companies, Heads of overseas offices, and Heads of the Corporate Citizenship Business Unit, were at the meeting. They discussed the achievements as of now — such as the six major Corporate Citizenship projects and main activities of group companies & overseas subsidiaries — and their future strategies.

In particular, this conference analyzed POSCO’s overall management activities from a Corporate Citizen’s point of view and established a ‘Corporate Citizenship Management Standards (CCMS)’ to help employees properly practice Corporate Citizenship in their work and daily lives. The meeting was chosen as the place to present the company’s CCMS for the first time.

In July 2018, POSCO set its management philosophy of “Corporate Citizenship,” and a year later, in July 2019, it declared the “POSCO Charter of Corporate Citizenship” as a “compass” that informs employees and executives of the direction toward their destination, Corporate Citizenship. In addition to this, The CCMS was announced to commemorate the first anniversary of the Charter and is to act as a specific map that helps reach the objective.

In the past year, POSCO focused on spreading the concept and objective of Corporate Citizenship with the ‘POSCO Charter of Corporate Citizenship’ and also on internalizing the principle to employees and executives through various training and activities. For the next step, POSCO has established CCMS, which provides the standards for action and decision-making, so that all employees can put Corporate Citizenship into actual practice and create results in both their jobs and daily lives.

As a practical and detailed guideline to enable the company’s growth, CCMS categorizes the company tasks into 13 modules, including strategic planning and finance, production, marketing, procurement, and R&D. Following a series of discussions amongst employees and executives, the Standards were drafted and modified to cover the mission, case, background, guide, and summary of each module.

Following the meeting, an unveiling ceremony was held for a media art created with POSCO’s Charter of Corporate Citizenship. The artwork by world-renowned media artist Lee-Nam Lee is titled, “Corporate Citizenship, the Light for Coexistence,” and visualizes the Charter being completed with molten iron poured from 7.25 m (The figure, 7.25, stands for 25 July, the day POSCO declared the Charter). It demonstrates POSCO’s commitment to the Charter as well as its strong will to carry out the CCMS.

POSCO plans to implement e-learning and internal discussions in department levels, as a measure to continuously deliver and spread the CCMS to its employees and executives.

Some renowned scholars who attended the event — such as Seoul National University Professors Kyung-Mook Lee & Seok-Ho Kim, and Ewha Womans University Professors Jeong-Koo Yoon & Jong-Soo Han — plan to research POSCO’s management system in pursuit of becoming a Corporate Citizen utilizing the CCMS. They will also carry out a study for a sustainable management system appropriate for the post-corona era. The results will be shared at the POSCO Forum in September and 2020 POSCO Corporate Citizenship Achievement Report in December.

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