Since it announced the ethical standards, POSCO has built global practice systems and infrastructure commonly used in the international community and taken all the necessary measures to operate and apply the systems.
POSCO established the Corporate Ethics Practice Bureau in August 2003 as an organization in charge of ethical management to allow the ethical standards to take root as a corporate culture as early as possible.
The major duties of the Corporate Ethics Practice Bureau include the drafting and implementation of related systems, supervision of the execution of ethical management including training, PR activities, and consulting, operation of the ethical practice program, and assessment of practice levels. Moreover, the company provides support to subsidiaries and outsourcing partners to expand ethical management.
On August 20, 2003, POSCO established the system of corporate ethics practice leaders who play the role of practical ethics ombudsman and appointed 1 leader from each division and department.
The corporate ethics practice leaders assist the department heads in operating their ethics practice programs and engage in ethical consultations, distribution of related information and other public notices, training, and other ethical practice activities. The Corporate Ethics Practice Bureau holds new corporate ethics practice leader training and workshops and distribute related books every year to promote the ethical practice mindset among corporate ethics practice leaders while striving to revitalize their roles.
With awareness with respect to employees' practice of ethics expanding and taking root, upgraded ethics practice activities granting autonomy and responsibility to department heads with regard to the practice of ethics have become necessary. As such, the company has been operating the "Ethics practice program" since June 2005.
The "Ethics practice program" is an annual program wherein each department discovers and improves ethical risks related to business using the 6 SIGMA technique. In recognition of its contribution to the enhancement of ethical management and transparency under the "Ethics practice program," POSCO won the 6th Transparent Society Contribution Award (sponsored by the Anti-corruption & Civil Rights Commission and managed by Transparency International Korea) on December 7, 2006.
POSCO operates corporate ethics Helpline and Hotline through which counseling and reporting related to ethical standards can be requested via the company website, email, telephone, or fax. These lines can be used not only by POSCO directors or employees and interested parties but also by the general public; confidentiality is fully guaranteed for whistleblowers. POSCO prevents unethical acts through counseling and whistleblowing system and takes the lead in practicing corporate ethics through two-way communication.
POSCO operates a sexual harassment Helpline to create a sound organizational culture; counseling on preventing sexual harassment may be received through email, telephone, or other appropriate means
To establish the strategic development directions of future ethical management by comprehensively assessing the corporate ethics activities carried out to date, POSCO has developed a "POSCO-style ethics practice evaluation model" and surveyed the "POSCO ethics practice index" through an external survey agency. This survey was conducted covering many interested parties including POSCO customers, suppliers, and directors or employees. POSCO shall make continued efforts to ensure co-existence with all interested parties and grow as a trusted, respected enterprise.