HOME Corporate Citizenship/ESG Ethics & Compliance
POSCO Group’s ethical management is based on our corporate philosophy of “doing the right thing in the right way.
Ethical Misconduct Reporting
Report ethical violations made by POSCO Group employees
(e.g. bribery, embezzlement, illicit entertainment)
Abuse of Power Reporting
Report of verbal abuse and/or assault made by POSCO Group employees
Hostile Workplace/Sexual Harassment Reporting
Report of workplace harassment and/or sexual harassment
Preamble
It is our enduring goal to establish a corporation that holds the values of integrity, fairness and honesty in the highest esteem and that is trusted by all stakeholders. Hence, in 2003, POSCO Holdings wrote the Code of Ethics to be observed by all employees. In 2014, the values that proclaim support and respect for human life and dignity, as defined in the UN Guide, was explicitly added to the principles. Most recently, the Code was amended to include stricter ethical standards in its management practices.
This Code of Ethics consists of the Preamble, followed by the Principles of Ethical Management that define compliance and responsibilities of employees and practice guidelines that set the standards for ethical decision-making.
All members of POSCO Group must strictly abide by the principles and practices defined by the standards in all aspects of business and conduct.
Observance of the Code offers a means to pay tribute to the exceptional commitment of our founding members in their effort to preserve the history and to continue the spirit of POSCO Holdings.
Ethical Principles
Practice Guidelines
Programs
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Ethics PledgeEvery year, on the first work day in January, each employee makes a pledge to adhere to the Code of Ethics.
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Special Terms on Ethical PracticeOur agreements with trading partners include special terms and conditions on ethical practice that include sanction provisions for Code of Ethics violation.
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Ethics SessionAn Ethics Session is organized to administer surveys to assess the ethical perception of managers and executives.
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Lecture Honorarium Deposit ProgramHonorarium received for outside lectures given by an employee is deemed company asset; therefore, employee deposits 50% of the compensation. (Employee keeps 50% to cover cost of travel and labor)
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Gift Return CenterWhen a gift has been received from a stakeholder, drop it off at the Gift Return Center.
The gift is processed and returned to the sender with a ‘Politely Declined’ sticker.
Training
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Ethics training for managers and executives
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Ethics training for new and experienced hires
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Overseas ethics training for foreign service employees and local hires
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Ethical management
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Sexual harassment prevention
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Hostile workplace prevention
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Abuse of power in workplace prevention
Purpose
- An employee who receives solicitation has grounds to refuse on account of system registry
- The solicitor is discouraged by the record of solicitation being kept on file, thereby foregoing future requests
- Create a culture of integrity and transparency; once an improper solicitation is made, do the right thing and enter the case in the whistleblow registry
- Any entry made in the registry is considered voluntary reporting; the good faith employee shall be protected and exempted from all subsequent consequence and/or responsibility
System Process
Extension can be granted for special circumstances (e.g. meetings, travel)
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STEP 1The final recipient of the improper solicitation registers the solicitor and the event in the system
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STEP 2The ESG team receives and confirms the report
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STEP 3The outcome of the case is informed by the ESG team to the associated organization
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STEP 4When deemed necessary, the ESG team performs in-depth investigation; any issue identified is addressed
Rules and Definitions
- Act that has personal consequence on the employee when the request is either accepted or denied
- Act that imposes undue mental burden on the employee while performing a just duty due to the improper request
An employee who becomes aware of improper solicitation but fails to report the event may be subject to severe disciplinary action.
Acts That Require Registry as Improper Solicitation |
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Acts That Do Not Require Registry as Improper Solicitation |
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