Kim Hak-dong "POSCO to Become a Leading ESG Management Company Through Continuous Innovation"

Publication of the '2021 Corporate Citizenship Report'
"Achieving Carbon Neutrality in Steel Processes by 2050"

[Asia Economy Reporter Oh Hyung-gil] Kim Hak-dong, Vice Chairman of POSCO, stated, "We will take the lead in establishing a low-carbon circular economy by achieving carbon neutrality in steelmaking processes by 2050."

Vice Chairman Kim made this remark in POSCO's '2021 POSCO Corporate Citizenship Report' published on the 8th, saying, "Based on the corporate citizenship management philosophy, POSCO will continuously change and innovate to become a leading ESG management company that creates a sustainable tomorrow together with stakeholders."

He added, "We are focusing on a major transition to low-carbon steelmaking processes. In the mid to short term, we are promoting the establishment of electric arc furnaces and expanding renewable energy, and in the long term, we will complete the development of our proprietary hydrogen reduction steelmaking technology, HyREX."

Vice Chairman Kim also explained, "We are creating an operational system where workplace safety is the top priority. We are establishing processes to identify and improve risk factors on-site and are prioritizing the allocation of investment resources to ensure there are no potential safety hazards."

In particular, as part of building a smart factory, he emphasized that POSCO will devote full efforts to promoting 'Smart Safety,' which supports safety activities through artificial intelligence and smart wearable devices.

Regarding organizational culture, he said, "Corporate culture innovation will create a happy workplace for all employees and become the cornerstone of POSCO as a 100-year company," adding, "a flexible organizational culture, a culture based on high professional capabilities, and smart acceleration across all business areas are the organizational cultures POSCO pursues."

This report includes the five major goals and achievements: ▲ a major transition to eco-friendly steelmaking processes, ▲building the world's best intelligent smart steelworks, ▲continuously strengthening top-tier product competitiveness, ▲fostering a corporate culture of creativity and trust, ▲and coexistence with stakeholders.

Additionally, the report systematically compiles and discloses the practical framework established for managing ESG (Environmental, Social, and Governance) performance, as well as policies and guidelines by ESG sector. The methodology for measuring corporate citizenship value was introduced for the first time. It consists of 150 detailed indicators, including building a robust industrial ecosystem and realizing a better society.

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