POSCO Inter wins Excellent Grade in Fair Trade Compliance from Korea Fair Trade Commission

[Asia Economy Reporter Ki-min Lee] POSCO International announced on the 15th that it received the highest grade of 'AA (Excellent)' among participating companies in the 2021 Fair Trade Compliance Program Operation Evaluation hosted by the Korea Fair Trade Commission.

The Fair Trade Compliance Program is a compliance system that companies operate independently to adhere to fair trade-related laws and regulations, and it is evaluated as one of the Environmental, Social, and Governance (ESG) management factors. The Fair Trade Commission evaluates companies' compliance with fair trade, attendance in education, and supervision, and assigns grades (AAA, AA, A, B, C, D).

POSCO International was recognized for its excellent fair trade compliance system by obtaining an AA grade in this year's re-evaluation, after receiving an A grade in 2017 and 2018 respectively.

POSCO International explained that it was highly evaluated for establishing a system in the fair trade compliance field where executives and employees can consult with the relevant department in advance during fair trade or subcontracting-related transactions. In the education field, it was recognized for conducting online and offline fair trade education tailored to the convenience of all executives and employees, and for creating and posting a mobile handbook that allows employees to easily search the Fair Trade Act and Subcontracting Act. Furthermore, in the supervision field, it received high marks for establishing an internal audit system by appointing compliance program managers and management committee members for each business, and conducting self-inspections to prevent violation risks in advance.

A POSCO International official said, "This is the result of continuous efforts to comply with fair trade," adding, "We will continue to spread a culture of compliance through various fair trade activities and practice compliance and ethical management befitting a global comprehensive business company."

Meanwhile, POSCO International is also actively engaged in win-win cooperation with small and medium-sized enterprises (SMEs) beyond fair trade compliance. In particular, since 2019, POSCO International has been operating the 'SME Global Marketing Portal,' systematically supporting the export of small and medium-sized venture companies and leading promising companies into the global market.

Additionally, in October, it contributed 30 billion KRW to a win-win cooperation fund for the growth of promising small and venture companies and was selected as a 'Caring Company' by the Ministry of SMEs and Startups in recognition of its win-win achievements.

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