POSCO Selected as 'Highest' Grade in 2019 Win-Win Growth Index for Steel Industry
[
Asia Economy Reporter Hwang Yoon-joo] POSCO was selected as the highest grade, "Excellent," in the '2019 Win-Win Growth Index Evaluation' announced by the Win-Win Growth Committee (Dongbanwi).
The Win-Win Growth Committee held the 63rd meeting on the 8th and announced the results of the 2019 Win-Win Growth Index evaluation.
POSCO is believed to have received high praise for actively practicing the management philosophy of "Corporate Citizen Growing Together" by spreading its unique seven representative win-win growth programs to group companies. POSCO is the only company in the steel industry to receive the highest grade.
The Win-Win Growth Index is an indicator that quantifies the level of win-win growth of large companies to promote win-win growth between large and small and medium-sized enterprises. The committee has been regularly announcing it once a year since 2011.
The companies subject to evaluation are those with high social interest among the top domestic sales companies, and those whose evaluation results have a significant ripple effect. The '2019 Win-Win Growth Index' announced this time covers 193 companies.
POSCO, which has been subject to evaluation since the first year, has been striving to create a healthy industrial ecosystem where economic and social values circulate in a virtuous cycle by forming a dedicated win-win growth organization since 2005 to achieve a win-win with small and medium-sized enterprises. Recently, it established the win-win growth brand called "Change Up Together" and operates a total of 33 win-win growth programs, including the seven representative programs. In addition, the scope of win-win growth activities includes not only first-tier suppliers, partners, and customers but also second-tier suppliers and non-trading companies.
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In addition, POSCO, together with Hyundai Steel, established a 100 billion KRW scale "Steel Win-Win Cooperation Fund" in June this year to support small and medium-sized enterprises in the steel industry struggling due to the novel coronavirus infection (COVID-19). By providing funds at an interest rate 1.05 percentage points lower than the market rate, it offers practical assistance to companies facing liquidity difficulties.
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