POSCO declared the ¡®POSCO Charter of Corporate Citizenship¡¯ on July 25, 2019
conveying the concept of corporate citizenship as well as POSCO¡¯s aim and principles of action.
HOME CC/ESG Corporate Citizenship Charter of Corporate Citizenship
Corporate Citizenship
Business operations fundamentally rely on society, and it is through societal harmony that they can achieve growth and longevity.
We firmly uphold the conviction that thriving corporations, beneficiaries of societal resources, must extend their focus beyond economic gains, embodying true corporate responsibility through active engagement in resolving societal issues, contributing to humanity's prosperity, and facilitating the creation of a better world.
Guided by the principle of ‘Corporate Citizenship: Building a Better Future Together,’ POSCO is committed to relentless adaptation and innovation, driving the creation of greater corporate value and sustainable growth through an open dialogue with our customers, team members, and shareholders.
In all its endeavors, POSCO adheres to the following principles:
01.Understanding Corporations
A corporation is not a standalone entity existing in isolation from society. Instead,
it is a ‘symbiotic existence’ that thrives and persists through societal harmony.
02.The Concept of Corporate Citizenship
Mature Citizen
Beyond mere compliance with legal regulations, a mature citizen voluntarily takes action to understand and alleviate the sufferings of others.
Corporation, Becoming a Citizen
Corporate Citizen
A corporate citizen goes the extra mile to create a better world by extending its responsibility beyond generating economic profits and solving societal issues.
03.Beliefs and Commitments of Corporate Citizen
We strive to embody corporate citizenship in our management principles.
The Corporate Citizenship
A cultural bedrock that enables us to envision ourselves as a century-long corporation.
-
Engagement
and Empathy
with Stakeholders -
Relentless Pursuit
of Change
and Innovation -
Enhancement of
Corporate Value
and
Sustainable Growth
Through our adherence to the principles in consideration of business, society, and people,
we ensure that the spirit of corporate citizenship permeates all our operations.
Firstly, we nurture a robust business ecosystem with business partners.
- - We practice the values of fairness, transparency, and ethics across all business activities.
- - We pursue collaboration and mutual growth with partners and suppliers based on a culture of consideration and respect.
- - We support customer success by providing the finest products and services.
What are our responsibilities from a business perspective?
In today's increasingly complex business landscape, enhancing internal competitiveness alone is insufficient for survival; we need to create a resilient industrial ecosystem by developing symbiotic values, thus ensuring a win-win situation with our business partners.
The Symbiotic Value?
It is a mutual value created through cooperative endeavors with business partners, serving as a propelling force for survival and continual growth.
Cultivating Symbiotic Value
The creation of symbiotic value emerges from the triad of trust, competence, and creativity.
In the context of business, it implies the elevation of trust among partners to minimize transactional expenses, narrowing the divide through the enhancement of shared proficiency, and creating unique customer value via collective ingenuity.
In the context of business, it implies the elevation of trust among partners to minimize transactional expenses, narrowing the divide through the enhancement of shared proficiency, and creating unique customer value via collective ingenuity.
Trust
Establishing positive reciprocal connections with partners leads to promoting fairness, transparency, consideration, and a decline in transaction costs.
Competence
Collectively improving the skill set with partners aids in minimizing the technological and manpower disparities, thus boosting productivity.
Creativity
Creating superior customer value through cooperative efforts embodies collective wisdom, technological innovation, and a trailblazing spirit.
Robust Industrial Ecosystem
The realization of symbiotic value culminates in a steady, efficient, sustainable,
and resilient industrial ecosystem that surpasses the boundaries of growth.
and resilient industrial ecosystem that surpasses the boundaries of growth.
Principle 01
Promote stability by strengthening trust with partner corporations.
Principle 02
Increase efficiency via mutual enhancement of competence.
Principle 03
Surpass growth boundaries through creative products and services.
Secondly, we are at the forefront in addressing social issues and making society better.
- - We take a leading role in confronting social challenges at the corporate level with a sense of empathy.
- - We carry out activities for the common good for the development of local communities and environmental protection.
- - We actively participate in philanthropy as part of our commitment to sharing with our neighbors and the society.
What is expected from a societal perspective?
As corporations evolve and their capabilities expand, it is time for them to play an active role in resolving social issues beyond the realm of economic profitability.
What does shaping a better society imply?
It involves empathizing with societal issues, contributing towards their resolution, and promoting societal stability, local advancement, and communal happiness.
A Better Society
A superior society can be nurtured when societal stability is achieved, the local community is progressive,
and mutual happiness is prevalent.
and mutual happiness is prevalent.
Securing societal stability
Cultivating a progressive local community
Creating a society where communal happiness thrives
How do we implement this?
To establish a better society, we need to address and resolve deep-seated societal issues,
improve the quality of life in local communities,
and engage in active care and sharing within the community.
improve the quality of life in local communities,
and engage in active care and sharing within the community.
Principle 01
Address societal issues (such as economic disparity, declining birthrates)
Promoter
Principle 02
Enhance the quality of life in local communities (environment, culture, etc.)
Provider
Principle 03
Engage in active care and sharing within the community
Participant
Thirdly, we foster a happy and fulfilling workplace by creating a corporate culture based on trust and creativity.
- - We create a safe and pleasant working environment to promote the health and well-being of our employees.
- - We pioneer a corporate culture of trust and harmony through fair HR management practices and stable labor relations.
- - We create a great workplace where diversity is respected and a healthy work-life balance can be realized.
What should we implement from a people-centric standpoint?
Our company should work diligently to foster a workplace where employees can experience a sense of satisfaction and happiness (Employee-focused). Simultaneously, as integral members of the corporate community, our employees should actively engage in corporate citizenship activities across the Business/Social/Personal (B/S/P) sectors (Employee-led).
Fulfilling and Joyful Workplace
Achieving physical, psychological, and lifestyle stability forms the basis for a trust-filled and innovative organizational culture. Such a culture lays the groundwork for a workplace where fulfillment and happiness can flourish.
Establishing a Fulfilling and Joyful Workplace
Elevating levels of trust and creative expression among employees is fostered when they experience stability across three dimensions: physical, psychological, and lifestyle.*
*As the positive psychology theory outlines, the cardinal characteristic of successful organizations is a sense of ¡®stability,¡¯ which plays a pivotal role in constructing a happy workplace.
Principle 01
Physical Stability
We must ensure that our employees are safe from physical harm and experience comfort within their work environment.
Principle 02
Psychological Stability
We impart a profound sense of security by fostering communication based on mutual trust, respect, and consideration among all members and employees of the organization.
Principle 03
Living Stability
In order to allow employees to fully engage in their work, we need to cultivate a culture that values and upholds the stability of their daily lives and personal well-being.