POSCO Selected as ‘Best’ Grade in 2020 Win-Win Growth Index

Positive Evaluation of Active Implementation of the 'Corporate Citizen' Management Philosophy

[Asia Economy Reporter Hwang Yoon-joo] POSCO has been selected for the highest grade, "Excellent," in the '2020 Win-Win Growth Index Evaluation' announced by the Win-Win Growth Committee (Dongbanwi).

POSCO announced on the 15th that it received the Excellent grade in the 2020 Win-Win Growth Index evaluation results at the '67th Win-Win Growth Committee' meeting.

The Win-Win Growth Index is a quantified indicator that evaluates the level of win-win growth between large corporations and small and medium enterprises (SMEs) to promote mutual growth, and the committee regularly publishes it once a year. A total of 36 companies, including POSCO, received the Excellent grade.

POSCO is believed to have received high evaluations for actively practicing its management philosophy as a "corporate citizen growing together" through efforts to establish a fair and transparent trading culture, support for innovative growth with business partners, and activities to resolve social issues such as COVID-19, safety, and the environment.

In particular, last year, POSCO jointly established a 100 billion KRW-scale 'Steel Win-Win Cooperation Fund' with Hyundai Steel, supporting SMEs in the steel industry to secure funds at an interest rate approximately 1.05%p lower than the market rate. It is reported that a POSCO partner company using this fund refinanced a loan of about 1 billion KRW with an interest rate over 6%, saving about 25 million KRW annually in interest expenses.

POSCO's 'POSCO-type Productivity Innovation,' which supports SMEs with 20 billion KRW over five years to enhance productivity innovation, also received great acclaim.

From this year, POSCO has redefined its win-win growth activities as one of the five corporate citizen brands, 'Together With POSCO,' and is significantly strengthening activities to support not only the innovative growth of business partners but also ESG management support for SMEs.

To this end, the newly established Win-Win Growth Support Team was launched this year. They provide customized consulting in four areas: smart factory construction, ESG issue resolution, equipment and energy efficiency, and introduction of future new technologies. The Win-Win Growth Support Team plans to conduct consulting on a total of 38 tasks for 12 companies in the second half of the year to accelerate the strengthening of SMEs' core competitiveness.

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