POSCO, Awarded 'Top Excellence' Grade in Win-Win Growth Index for 4 Consecutive Years

2023 POSCO Win-Win Growth Support Group Launch Ceremony. Photo by POSCO

POSCO received the highest grade, the Excellent grade, in the 2022 Win-Win Growth Index evaluation selected by the Win-Win Growth Committee (Win-Win Committee). POSCO is the only company in the steel industry to receive the Excellent grade this year. With this evaluation result, POSCO has achieved the Excellent grade for four consecutive years and continues to be recognized as an ‘Excellent Honorary Company (Excellent company for three or more consecutive years)’ this year as well, following last year.

On the 8th, the Win-Win Committee held its 76th meeting and officially announced the results of the 2022 Win-Win Growth Index evaluation for 214 large and medium-sized enterprises. Among the results announced this time, a total of 41 companies, including POSCO, were selected as Excellent grade recipients.

The Win-Win Growth Index is a quantifiable indicator that evaluates the level of win-win growth between large and small and medium-sized enterprises (SMEs) to promote mutual growth. It is calculated by combining the ‘Win-Win Growth Comprehensive Evaluation’ conducted by the Win-Win Committee and the ‘Fair Trade Agreement Implementation Evaluation’ conducted by the Fair Trade Commission.

POSCO received an excellent evaluation in recognition of its multifaceted efforts last year to establish a culture of fair trade within the supply chain and to foster mutual growth with business partners.

In particular, to operate win-win growth activities with stakeholders more systematically, POSCO set three directions for its win-win growth activities last year: ▲strengthening supply chain resilience ▲enhancing ESG response ▲expanding perspectives to the entire value chain. The win-win growth programs were also expanded and reorganized into eight representative programs. The eight representative win-win growth programs are ▲Performance Sharing System ▲Smart Capability Enhancement ▲Direct Payment System for 1st and 2nd Tier Suppliers ▲Steel ESG Win-Win Fund ▲Corporate Citizen Friends ▲For You Dream Job Matching ▲Win-Win Growth Support Group ▲Venture Nurturing.

Now in its third year since launch, the 'Win-Win Growth Support Group' is a specialized SME support organization composed of experts with over 25 years of experience. It provides customized consulting in four areas: ▲Smart Factory construction ▲ESG issue resolution ▲Equipment and energy efficiency ▲Introduction of future new technologies. Since its launch, it has provided 189 solutions to 60 SMEs through last year, resulting in approximately 16.5 billion KRW in financial benefits.

Additionally, the 'Smart Capability Enhancement' program, which supports productivity innovation for SMEs, is characterized by cultivating an innovative mindset among SME employees through POSCO’s unique innovation method, QSS (Quick Six Sigma), and maximizing support effects by assisting in the establishment of smart factories based on this foundation. Since 2019, POSCO has invested a total of 20 billion KRW over five years to support not only its business partners but also non-partner companies, achieving meaningful results such as increased sales and reduced production lead times.

Furthermore, POSCO plans to continue its win-win growth activities with stakeholders based on the belief that building a sustainable supply chain is directly linked to strengthening competitiveness in the steel industry, by supporting ESG field inspections and diagnostics in the supply chain and conducting practical training on supply chain carbon neutrality.

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