For the third consecutive year, POSCO has been awarded with the highest grade in evaluation of shared growth indexes, assessing the results of shared growth activity among major companies and SMEs (small and medium enterprises), by the National Commission for Corporate Partnership.
On June 30, NCCP Chairman Ahn Chung Young announced the evaluation results for 2014 at its 35th general meeting at Seoul Palace Hotel.
The evaluation is divided into four grades; best, excellent, satisfactory and fair. One hundred twelve major companies which have great economic influence, according to business type and of impact of shared growth among the top 450 major companies in terms of sales, were assessed. The value of shared growth indexes is quantified by evaluating the shared growth levels of major companies in order to create fair trade and a culture of shared growth among major companies and SMEs.
Only 19 companies, including POSCO, were awarded the highest grade, 37 companies were awarded an excellent grade, 42 companies, including POSCO E&C, received a satisfactory grade and the remaining 14 companies received a fair grade.
Companies who achieve the highest grade receive benefits for one year with the Fair Trade Commission, Ministry of Trade, Industry and Energy, Public Procurement Service and National Tax Service.
POSCO won additional accolades and was selected as one of “The Most Honorable Company” recipients. It has secured this title for three consecutive years along with Samsung Electronics, Hyundai Mipo Dockyard, SK Global Chemicals and SK Telecom. This honor means being recognized as having earned the highest grade and be given the same incentives as the highest grade for an additional year, even in the case of receiving an excellent grade next year.
POSCO will develop “Creating Shared Value” (CSV) programs and policies which promote ways to achieve sustainable partnerships with cooperating companies and plans to continue operating as an exemplary company of shared growth by actively promoting these programs.