This code of ethics establishes the ethical values and behavioral standards that must be preserved and developed by all POSCO Group employees by inheriting the foundation spirit of patriotism in steelmaking based on sacrifice and service while reflecting the new spirit of the times.
It is our unchanging value to establish a corporate image that can be trusted by all stakeholders with the highly prioritized value criteria of integrity, fairness and honesty.
As a result, POSCO enacted the code of ethics in 2003 that must be adhered to by all employees, and explicitly included the US Human Rights that claim to support respect for human life and dignity in 2014. At this time, POSCO has amended the code of ethics with tighter ethical standards according to the intent of management innovation that places the highest value on ethics in management.
This code of ethics consists of the preamble, followed by the principles of ethics that reflect compliance and responsibility of employees regarding the code of ethics, and practical guidelines that set the standard for ethical decision-making.
All employees of POSCO Group must strictly comply with the principles of ethics and practical guidelines set by this code of ethics in all aspects of business.
This is how we all can proudly preserve the credibility of POSCO as we know it today, formed by the blood, sweat, and tears of our founding members.
1. We must comply with related rules and regulations in all areas of the world where POSCO is conducting business operations.
2. We must retain our dignity as POSCO employees and make efforts to maintain the company's reputation.
3. We must preserve integrity, fairness and trust throughout all jobs and business relations.
4. We must not become engaged in activities in which there are conflicts of interests between the company and individual.
5. We must not irrationally discriminate against other employees or stakeholders based on race, nationality, gender, disability and religion, and must respect the dignity and diversity of each individual.
6. We must make efforts to create a safe workplace and protect the environment.
7. We must be devoted to establishing an ethical culture by taking responsibility and practicing ethical conduct..
Employees must understand and practice all aspects of the code of ethics, and comply with domestic and international laws regarding anti-corruption as members of a global company.
1. Understanding and Complying with the Code of Ethics.
2. Reporting and Consulting Unethical Conduct
The leader must perform a key role in enhancing the competitiveness of the company by preventing and eradicating unethical conduct through ethical compliance.
2. Operational accountability
3. Job performance
4. Elimination of favors and solicitations
5. Respect for humans
6. Practical activities
The leader must also prevent unethical conduct of members, and take the following measures in case of such conduct.
1. Training and counseling on ethics
2. Precautions for unethical conduct
Employees violating the code of ethics may receive certain penalties including dismissal according to related regulations.In particular, the zero tolerance policy is applied to unethical conduct such as accepting bribes, embezzlement, fabrication of information, and violation of sexual ethics.
Conduct Subject to Penalty