POSCO sets new guidelines for 'Corporate Citizenship'

POSCO Chairman Choi Jeong-woo, right, looks at the corporate citizenship charter established at the POSCO center in Seoul, July 28. / Courtesy of POSCO

By Kim Jae-heun

POSCO revealed its Corporate Citizenship Management Standards (CCMS), Tuesday, promising to grow into a 100-year enterprise through social responsibilities.

This is the second year the steelmaker adopted the pro-social management philosophy and has established new guidelines to fully implement the measures.

POSCO Chairman CEO Choi Jeong-woo hosted this year's very first strategy meeting to discuss the company's past corporate citizenship activities.

Choi said it is important for corporations to seek mutual growth with society and not only seek personal interest, especially amid the ongoing crisis of the COVID-19 pandemic.

“I learned that companies, as members of the community, should become 'corporate citizens' who actively participate in social affairs and play a leading role in creating a better world based on our capabilities and resources,” Choi said. “It is POSCO's goal as a corporate citizen to utilize social resources to promote sustainable growth by establishing a virtuous cycle of economic and social values.”

Over 100 leaders and board members of the company from not only branches in Seoul, Pohang and Gwangyang but those based overseas joined the online meeting to discuss the achievements and future strategies.

In the last 12 months, POSCO has been carrying out various education programs and activities to develop and promote the internalization of the concept of corporate citizenship. Now, it has established its CCMS as guidelines for its employees to practice corporate citizenship in and outside of the company and achieve tangible results.

POSCO's CCMS classifies the company tasks into 13 modules including R&D, marketing, production and finance and contains summaries of meetings attended by executives and employees.

The company said it will also start an online learning program for employees to adopt the CCMS in daily life while continuously discussing the topic in the company.

Scholars from Seoul National University and Ewha Womans' University will study POSCO's management method and share their findings in the upcoming company forum in September and the end-of-year meeting in December.