POSCO Selected as 2022 PHP Excellent Supplier

Company representatives are taking a commemorative photo at the PHP supplier invitation meeting. Photo by POSCO

[Asia Economy Reporter Jeong Dong-hoon] POSCO has selected 38 companies as the 2022 'PHP Excellent Suppliers (POSCO Honored Partner)'.

POSCO announced on the 24th that it held a meeting on the 23rd, inviting 10 of the PHP Excellent Suppliers and presented them with certificates.

Since 2004, POSCO has been selecting outstanding suppliers who contribute to securing its competitiveness as PHP Excellent Suppliers and providing various benefits.

This year's PHP Excellent Suppliers were selected based on the suppliers' performance last year. POSCO selects PHP Excellent Suppliers not only based on quality, delivery, and price but also on ESG (Environmental, Social, and Governance) management activities such as environment and safety, social contribution activities, and fair trade practices.

In particular, the PHP Excellent Supplier system has established itself as a representative practice case of POSCO's corporate citizenship brand, 'Together With POSCO,' through activities such as promoting the suppliers' own companies, strengthening POSCO's supply chain through technology development, and actively participating in community service activities.

POSCO presented certificates in both Korean and English to the selected PHP suppliers. PHP suppliers can utilize these certificates effectively for marketing purposes, such as pioneering overseas markets.

Additionally, various benefits are provided, including ▲ exemption from various contract deposits within the POSCO Group ▲ priority selection for win-win growth programs. At the meeting, POSCO shared supply chain innovation plans such as the JIT (Just In Time) system, strategies to respond to global supply chain risks, and ESG management strategies, while listening to the suppliers' difficulties.

Lee Joo-tae, Head of POSCO's Purchasing and Investment Division, urged, "Let us work together to practice Together With POSCO through win-win growth activities where POSCO and suppliers can coexist."

Going forward, POSCO plans to continuously communicate to understand market trends and difficulties of suppliers and reflect these in purchasing system improvements to promote win-win growth with suppliers.

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