POSCO was selected as an excellent company in corporate social responsibility management at the ‘2013 East Asia 30’ Awards hosted by The Hankyoreh on October 31st.
‘East Asia 30’ is an event where CSR (Corporate Social Responsibility) activities of companies in East Asia are analyzed based on social, environmental, and governance structures, and 30 leading companies are selected and announced. This year, 8 companies including POSCO were selected from Korea. POSCO received high marks for stakeholder communication and governance structure.
POSCO announced the management philosophy of becoming a ‘company loved by stakeholders’ in 2011, and established the stakeholder model ‘SPICEE’ consisting of ‘Society, Partners, Investors, Customers, Employees, and Environment.’ Based on this model, proactive stakeholder communication and transparent information sharing through the sustainability report were evaluated highly. POSCO was also acknowledged as a leading company in governance structure as the position of the CEO and Chairman of the Board of Directors are separated, while the ‘Outside Director Ethics Code’ was established to promote responsibility and transparency of activities of outside directors.
Prior to the award ceremony on the 30th at the 4th Annual Asia Future Forum, POSCO CSR Division Director Yang Wonjun in his case study presentation introduced POSCO’s activities, stating “POSCO established social enterprises to enhance the self-support of those neglected in the region, and is also making efforts to support local resident self-support in regions overseas were POSCO has a presence by building agriculture training centers and dispatching Saemaul new community volunteer corps.”
Seoul City Mayor Park Won-soon, who headed the panel discussion that followed, introduced POSCO’s win-win activities with the local community and mentioned that, based on the ‘volunteer and sharing, thanks’ execution DNA of all POSCO Family employees, POSCO has been carrying out its social responsibility as a company, receiving great applause from attendees.