POSCO Energy Prioritizes Suppliers Leading Social Value Creation

Leading Social Value Creation with Suppliers through the 'Corporate Citizen Participating Company Preferential System'

[Asia Economy Reporter Hwang Yoon-joo] POSCO Energy is implementing the 'Corporate Citizen Participating Company Preferential System' to give preferential treatment to suppliers who are striving to create social value.

The 'Corporate Citizen Participating Company Preferential System' is a program introduced by POSCO Energy to empathize with social issues alongside its business partner suppliers and to create a better world.

POSCO Energy has designated four major areas (vulnerable groups, job creation, gender equality, environmental safety) and ten items (social enterprises, excellent job-creating companies, family-friendly certified companies, green-certified companies, etc.) as preferential categories, aiming to expand transactions with companies participating in solving social problems and provide incentives to those companies.

According to the 'Corporate Citizen Participating Company Preferential System,' suppliers leading social value creation will receive up to a 5% incentive during purchase bidding. For example, if a social enterprise bids 100 won, POSCO Energy evaluates it as 95 won, and if awarded, contracts with the supplier at 100 won.

POSCO Energy plans to apply the 'Corporate Citizen Participating Company Preferential System' not only during supplier bidding but also when reviewing contract renewals and selecting excellent suppliers.

Jung Chang-sik, Head of Management Support Office at POSCO Energy, stated, "We hope the Corporate Citizen Participating Company Preferential System will establish a win-win culture that creates social value alongside economic value between suppliers and POSCO Energy." He added, "Going forward, POSCO Energy will take the lead in fostering a healthy industrial ecosystem together with its business partners."

Meanwhile, to establish a culture of business coexistence, since February this year, POSCO Energy has been providing funeral support services for suppliers’ employees residing on-site at POSCO Energy locations, including maintenance, facility management, security, and cleaning, covering funerals for parents, parents-in-law, spouses, and the employees themselves. Additionally, to strengthen the safety management of supplier employees and establish a horizontal cooperative culture, POSCO Energy conducts a full survey of safety protective equipment for on-site suppliers, regularly checking whether support is provided at a level equivalent to that of direct employees.

This content was produced with the assistance of AI translation services.