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Code of conduct



Customer value creation and trust recovery

Realizing customer satisfaction

  • - Undertake customer-oriented business while listening to and
       respecting the voices of customers (VOC).
  • - Actively accept customers’ justifiable demand and rational

Creating customer value

  • - Meet customer needs by offering prime products through
       constant technology development.
  • - Our employees identify the domestic and international
       market status and foster a service mindset that respects
       customers’ cultures Gaining customer’s trust

Gaining customer’s trust

  • - Do not offer products and services that threaten customers’
       safety and health in business activities.
  • - Protect customer information and comply with laws and
       regulations on privacy protection.
  • - Offer precise information to customers in a timely manner.

Obligation in Good Faith for Investors

Pursuing shareholder value increase

  • - Create profits through transparent decision making and
       efficient business activities and simultaneously increase
    corporate value and shareholder value.

Offering fair investment information

  • - Do not offer information that may affect the investor’s
       judgment; do not provide them selectively.
  • - Do not trade stocks or marketable securities using internal
       information in relation to the job; do not recommend
       trading to others.

Calculating and offering transparent financial information

  • - Financial information needs to be produced through proper
       process and control based on precise trading facts
  • - Financial reports need to be drawn up according to generally
       recognized accounting standards.
  • - Sufficient and accurate management information should
       be offered for investors to make investment decisions based
       on their own judgment and responsibility.

Harmony between employees’ work and life

Pursuing balance between work and life

  • - Promote quality improvement of life through fringe benefit
       offering that are helpful to employees’ life condition
  • - Support employees in achieving their personal vision and
       flexibly working in terms of time, place, and method.

Offering opportunities for training and growth

  • - Foster a working environment/system wherein employees
       can work creatively.
  • - Support employees in receiving
       training/education or capability improvement and self
  • -development so that they can be talented people equipped
       with prime capabilities through the development of their
       abilities and qualities.

Fair evaluation and reward

  • -The company needs to evaluate on the basis of the
       employee’s personal capability and performance, reflect the
       evaluation results systematically, and offer proper rewards.

Shaping a sound organizational culture

  • - Employees pursue open corporate culture through open
  • - Employees shape the organizational atmosphere to remove
       organizational walls and cooperate mutually.

Building win-win relations with trading partners

Building mutual trust

  • - Practice fair trade through mutual respect and equal
       relations with trading partners.
  • - Strictly protect the information acquired from trading
       partners according to laws, regulations, and terms and
       conditions of agreements.
  • - Assist trading partners in complying with laws and
       regulations regarding fair trading.

Promoting win-win growth with trading partners

  • - Purse mutual profits by sharing performance with trading
  • - Enable trading partners to offer excellent-quality products
       and high level of services through smooth communication
       and mutual cooperation with trading partners.
  • - Offer fair opportunities to trading partners, guarantee
       rational trading conditions, and consequently develop
       partnership relations.

Continuous support for trading partners' development

  • - Make an effort to build a stable supply network through
       technical and financial assistance for trading partners.
  • - Expand the scope of trading partners for overall win-win
       cooperation in the corporate ecosystem.

Environmental protection and ecosystem preservation

Building an environmental management system

  • - Evaluate the effects and risks of corporate activities on the
       environment to achieve the environmental management
       goal by effectively operating the environmental
       management system; systematically manage and analyze the
       environmental management results.
  • - Share the performance and issues with various stakeholders
       and undertake environmental preservation activities
  • - Form a bond of sympathy with trading partners on
       environmental protection as a corporate basic social
       responsibility and assist them in complying with laws and
  • - Support trading partners in promoting public health and
       safety in producing products and offering services and assist
       them in minimizing the negative effects on the community,
       environment, and natural resources.

Complying with environmental laws and regulations and
minimizing environmental impacts

  • - Make efforts to minimize the environmental impacts of all
       processes of product development, production, and use.
  • - Minimize pollutant discharge by adopting eco-friendly
       production processes and applying optimum technology to
       prevent environmental pollution.

Coping with climate change

  • - Reduce the use of fossil fuels and make an effort to reduce
       greenhouse gas emissions via energy efficiency improvement.
  • - Consolidate competitiveness through the development
       of low-carbon innovation technology.

Protecting environment and ecosystem

  • - Endeavor to recover the natural ecosystem and preserve
       biodiversity by efficiently using natural resources and

Contribution to the Nation and Society

Role and attitude as a corporate citizen

  • - Respect the laws and regulations of the local country and
       culture and tradition of the community and endeavor for
       co-development with the nation and society.
  • - Strive to communicate through stakeholders’ participation
       in the management activity process related to the nation
       and society.
  • - Make an effort for trading partners to take part in activities
       for national and social development.

Contribution to national and social development

  • - Fulfill obligations in the community through stable job
       creation and faithful tax payment.
  • - Actively participate in social volunteer activities such as
       volunteer service and disaster relief and introduce public
       interest activities in various areas such as culture, arts,
       sports, and academe.
  • - Aid in improving the quality of life of community residents
       for them to lead a happy life.

Protection and respect of human rights

Respect of human rights-related international standards

  • - Respect and support internationally used human
       rights-related international standards such as Universal
       Declaration of Human Rights, UN Implementation Principles
       on Companies and Human Rights, UN Global Compact, and
       OECD Guidelines for Multinational Corporations.
  • - Establish precise human rights policy and system and
       endeavor not to violate human rights in the business
       activity processes.
  • - Support trading partners in complying with human rights
       regulations as required by human rights-related international
       standards, protect employees’ human rights, and treat
       employees fairly.

Due diligence for the respect of human rights

  • - Due diligence can be conducted for business activities that
       breach human rights or give rise to complaints.
  • - Seek a reasonable solution in case of human rights violation
       or when complaints are raised due to the company’s business
       activities, according to the due diligence results.
  • - Communicate with stakeholders in relation to human
       rights-related activity results.
  • - Communicate with stakeholders in relation to human
    rights-related activity results.

Protection of employees

  • - Do not engage in any verbal, physical, and visual behavior
       that causes unpleasantness to others including sexual
       harassment violating personal human rights.
  • - Respect the employee’s personal life, refrain from slandering
       or defaming others and from disclosing personal information.
  • - Do not cause work to be performed involuntarily through
       mental and physical coercion.
  • - Comply with each country’s labor act and international
       standards for minors’ labor conditions and minimum labor
       age standard.
  • - Conform to safety regulations faithfully and take proper
       action for any and all detected risk factors.

Respect and equality

  • - Do not discriminate or mock a person due to race,
       nationality, gender, age, education background, religion,
       region, disorder, marriage status, and sexual preference.
  • - Equally offer opportunities in employment, in case one is
       equipped with job qualification factors and capabilities.
  • - Respect various cultural differences and maintain a sound
       working environment.

Guarantee of legal and dignified employment conditions

  • - Promptly handle human rights issues raised by employees
       using the company’s grievance system.
  • - Guarantee employment conditions including maintenance
       of proper working hours so that the person concerned can
       lead a life wherein human dignity is maintained.

Community effort to respect human rights

  • - If human rights are breached in a community due to the
       company’s business activities, collect opinions and endeavor
       to solve the human rights issue.

Practice of ethics and law-compliance

Money and valuables

  • - Money and valuables mean something that can bring
       economic profit including money (cash, gift certificate,
       and gift voucher) and goods.
  • - Under no circumstances shall employees demand or receive
       money and valuables from stakeholders. Note, however, that
       souvenirs marked with the stakeholder company’s logo and
       those generally offered to the participants in events hosted
       by stakeholders are excluded.
  • - If one receives money and valuables inevitably in
       no-recognized state, they must be returned; if return is not
       possible, they must be reported to the Internal Control


  • - This means various activities conducted for social gatherings
       and exchanges for business such as meals, drinking, golfing,
       performances, and amusements.
  • - Entertainment beyond the socially acceptable level cannot
       be offered or received with stakeholders. Offering or receiving
       entertainment beyond the socially acceptable level needs
       to be reported to the Internal Control Department. Note,
       however, that entertainment in bars or other establishments
       by hostesses, etc., is prohibited.
  • - If entertainment is offered beyond the socially acceptable
       level at the company’s expense for any stakeholder, or in case
       of participation in the event including entertainment beyond
       the socially acceptable level, the person concerned needs to
       obtain approval from his/her department head in advance.


  • - Convenience means offering or receiving benefits such as
       transportation means, accommodation, tourism, and event
  • - Convenience including transportation means,
       accommodation beyond the socially acceptable level must
       not be offered or received. Note, however, that convenience
       generally offered to all the participants in an event is
  • - If convenience beyond the allowed scope is inevitably
       offered or received, such needs to be reported to the Internal
       Control Department.

Congratulatory and condolatory expenses

  • - Any and all congratulatory and condolatory events occurring
       on the part of the person himself/herself or a colleague must
       not be known to stakeholders; any act of letting them know
       through a third party is regarded as the person’s act.
  • - For information on congratulatory and condolatory events
       between employees, the internal message board for
       congratulatory and condolatory events should be used;
       sending individual mail and guide cards (invitation card and
       obituary card) is prohibited. The scope of kinship for
       congratulatory and condolatory events is limited to immediate
       family including grandparents, parents, and children of the
       person himself/herself and spouse.
  • - Congratulatory and condolatory expenses between
       employees must not exceed KRW 50,000 as the social
       customary level.
  • - Congratulatory and condolatory expenses must not be
       received from external stakeholders. If they are received
       inevitably, they need to be returned or donated to the Internal
       Control Department.
  • - Employees need to present the relevant data on the return
       of congratulatory and condolatory money received from
       stakeholders as required by the Internal Control Department.
  • - Employees must not receive congratulatory and condolatory
       garland/wreath from stakeholders; neither should they
       exhibit it even if the garland/wreath was received inevitably.
  • - Employees should not hold a luxurious wedding in a
       five-star hotel.

HR request

  • - Employees should not request for their own promotion,
    assignment to a position, and overseas work through an
    acquaintance or an external figure.
  • - Any HR-related request for relatives or acquaintances should
    not be made including employment, promotion, and assign-
    ment to a position.

Money trading

  • - Money trading must not be conducted with stakeholders
    , such as cash loan, loan guarantee, and real estate lease/rent
    with stakeholders.
  • - If money trading was done with a stakeholder inevitably due
    to personal relations, such should be reported to the Internal
    Control Department.

Event sponsorship

  • - No support must be received from stakeholders in case
    events supported by POSCO A&C, like department event or
    club activity, are held.
  • - Receiving convenience such as car, place, and service neces-
    sary for any event is regarded as receiving sponsorship money
    and valuables.
  • - In case sponsorship is inevitably received, such needs to be
    reported to the Internal Control Department.

Unreasonable use of budget and finance

  • - The company’s budget and finance like meeting expenses
    and business operating expenses must not be used for
    personal purposes.
  • - In the case of expenditure payment, the company card
    should be used, in principle, and in line with the standards for
    budget purpose set forth by laws.

Protection of information and assets

  • - The company’s confidential information or material informa-
    tion needs to be protected thoroughly.
  • - Material information should be delivered to those who need
    them in business upon recognizing such.
  • - Information must not be distorted, or false information must
    not be distributed.
  • - Do not use the company’s equipment, supplies, and facilities
    for purposes not directly related to the company’s business.

Fair trade

  • - Do not engage in unfair trading including collusion on produc-
    tion, prices, bids, and market division with competitors, con-
    forming instead to international standards and fair trade law
    s and regulations by country.
  • - Do not demand any type of compensation or unreasonable
    request to customers or trading partners using one’s advanta-
    geous position.
  • - Respect others’ rights and properties including intellectual
    property rights; do not breach them or profit from them.
  • - Corporate information including information on competitors
    needs to be acquired and used through justifiable methods


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