POSCO Group Expands Fair Trade Compliance Program to All Group Companies

Launch of Group CP Activation Support TF
Support Plans for All Group Companies and Partners

POSCO Group has organized the 'Group CP Activation Support TFT' and decided to expand the Fair Trade Compliance Program (CP·Compliance Program) to all group companies.

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The Fair Trade Compliance Program refers to an internal compliance system established and operated by a company itself, including education and supervision, to comply with fair trade-related laws and regulations.

In April, POSCO Group launched the 'Group CP Activation Support TFT' and began coaching and work support activities to enhance understanding of policy directions and content for the early establishment of the Fair Trade Compliance Program across all group companies.

POSCO Group's 'Group CP Activation Support TFT' is composed of CP experts from five group companies: POSCO Holdings, POSCO, POSCO E&C, POSCO Future M, and POSCO Flow. To strengthen the fair trade compliance programs of the 20 group companies currently operating CP, systematic updates will be conducted. Additionally, 16 newly selected group companies, including recently established ones such as POSCO HY Clean Metal and POSCO Lithium Solutions, are planned to introduce CP and receive customized coaching to establish it as a corporate culture in a systematic and timely manner. Furthermore, the TFT plans to actively explain the introduction procedures and policy directions to partner companies of the group, contributing to the spread of CP throughout the industry.

Choi Jeong-woo, Chairman of POSCO Group, has internally emphasized that "based on the corporate citizenship management philosophy, all group companies will establish CP early and become a leading domestic CP group through this."

In particular, following the passage of the 'Fair Trade Act Amendment' in the National Assembly plenary session on May 25, which legislates an incentive system granting benefits such as reduction of fines from the Fair Trade Commission for companies with excellent CP operation performance, the group expects CP activation not only within the group and partner companies but throughout the entire industry. Additionally, based on the corporate citizenship management philosophy pursuing fair, transparent, and ethical values, the group aims to become the leading company in compliance culture in Korea.

POSCO Group began introducing CP with POSCO in 2002, and currently, 20 group companies operate fair trade CP. Notably, POSCO Group has participated in the Fair Trade Commission's CP grade evaluation, with four companies?POSCO (AA grade), POSCO International (AA grade), POSCO E&C (AA grade), and POSCO Future M (A grade)?already achieving excellent grades. This year, 10 major group companies, including POSCO, are participating in the Fair Trade Commission's CP grade evaluation.

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