POSCO, First Domestic Company to Implement 'Fair Trade Compliance Program Certification System'

[Asia Economy Reporter Park So-yeon] POSCO is implementing the 'Fair Trade Compliance Program Certification System' for partner companies to establish a culture of fair trade in the industry, becoming the first domestic company to do so.

POSCO's Fair Trade Compliance Program Certification System supports partner companies such as equipment and material suppliers in establishing internal standards and procedures to comply with fair trade-related laws, enabling them to build internal compliance systems. Companies that obtain certification will also receive certain incentives.

First, POSCO plans to hold briefing sessions for companies wishing to be certified and select participating companies. The process involves diagnosing each company's fair trade compliance program system, evaluating and certifying the fair trade compliance programs of the target companies. POSCO will also provide customized legal services to minimize the cost burden on participating companies during this process.

Additionally, benefits will be provided to certified companies. POSCO will continuously support various compliance-related educational services, including fair trade, and offer consulting to help companies participate in the 'Fair Trade Compliance Program Grade Evaluation' certified by the Fair Trade Commission and obtain grades. Furthermore, POSCO plans to award additional points during supplier evaluations and reflect certified companies' status as mitigating factors in case of unavoidable violations.

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