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The Code of Conduct and Ethical Management

The true competitiveness of world leading companies is determined not just by how outstanding their facilities and business processes are, but also by the conduct of their employees. In full awareness of this fact, POSCO first enacted and declared its Code of Conduct on June 2, 2003(revised on June 2, 2014) in order to implement corporate ethics that meet internationally accepted standards, making a bold step toward becoming a globally respected and trusted company.

"An employee who makes a mistake can be forgiven, but one who acts unethically will not be tolerated." "Do not make any decisions that violate corporate ethics even if those decisions may bring more profits to the company."

POSCO's ethical management can be summarized as "voluntary practices by the employees and various stakeholders through mutual understanding and participation". For this purpose, POSCO provides ethics-related educations on a regualr basis and expects all the management level employees to set an example when it come to ethics.

POSCO will continue these efforts in the future and will also make sure that ethical decision makings become a natural part of corporate culture, espcially in 3Ps - People, Practice and Process.

Structure and Content

POSCO's Code of Conduct reinforces its status as one of the most trusted and respected companies in the world. And it is intended to induce full empathy and voluntary participations from all executives and employees.

The main body of the Code of Conduct states the 'Fundamental Principles' regarding the stakeholders, and 'Standard of Conduct' specifies all behavioral standards of its corporate members. Also, it provides a set of 'Practice Guidelines' that illustrates how the employees should abide by the ethical decision-making standards and offers self-diagnosis questionnaires. The self-diagnosis is printed on the back of the corporate ID cards of all employees, so each individual can make sure that the decisions they make are ethical.

POSCO has also published the "Business Ethics Handbook" and distributed to all executives and employees to help them better understand the Code of Conduct. The handbook includes detailed explanations and FAQs.

Initiatives from the Employees

In order to improve the effectiveness of its Code of Conduct, POSCO requires each employee to sign a ethics declaration form each year.