POSCO Construction Ranks No.1 in Construction Sector for Sustainability Index 3 Consecutive Years

[Asia Economy Reporter Yoo In-ho] POSCO Engineering & Construction announced on the 16th that it was selected as the No. 1 company in the construction and engineering sector for the third consecutive year at the ‘2020 Korea Sustainability Index (KSI)’ competition conducted by the Korea Standards Association.

The Korea Sustainability Competition comprehensively evaluates companies' strategic activities related to sustainability trends and the effectiveness of their economic, social, and environmental activities. Since 2009, the Korea Standards Association has selected and announced outstanding companies annually based on surveys of stakeholders and sustainability experts.

POSCO Engineering & Construction was highly evaluated for leading efforts to create a robust construction industry ecosystem together with business partners and for addressing social issues and realizing a better society through community sharing as a corporate citizen. With its selection as the No. 1 company in the 2020 Korea Sustainability Index, it has become the top company in the construction sector for the fifth time, following 2010, 2012, 2018, and 2019.

POSCO Engineering & Construction realizes the value of symbiosis by supporting its partners in technology, safety, and finance using its business, technological capabilities, and infrastructure to create shared achievements. Starting this year, it became the first in the construction industry to abolish the lowest bid system and introduced a bid price limitation system. It also operates a local company bidding promotion system to contribute to regional economic revitalization and a fair contract system to maintain fair trading relationships with partners.

Last year, POSCO Engineering & Construction ranked second in the industry with KRW 2.7 trillion in orders for urban redevelopment projects in the construction sector. In the construction company performance evaluation announced annually by the Ministry of Land, Infrastructure and Transport, it rose one rank from the previous year to 5th place, re-entering the big five construction companies after three years.

In June, Korea Credit Rating and Korea Investors Service upgraded the company’s corporate bond credit rating from A to A+, making it the only one among the top 10 construction companies to have its credit rating upgraded this year.

A POSCO Engineering & Construction official said, “As a member of the social community, we will fulfill our role as a corporate citizen that develops together and realize coexistence and mutual growth with all stakeholders.”

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