POSCO was named the "best" grade in the "2019 Win-Win Growth Index Evaluation" announced by the National Commission for Corporate Partnership (NCCP).
The commission on win-win growth held its 63rd NCCP on Sept. 8 and announced the results of its evaluation of the 2019 Win-Win Growth Index.
POSCO believes that it has been highly praised for actively practicing the management ideology of "corporate citizens developing together" by spreading its seven representative programs for shared growth to group affiliates. POSCO is the only company in the steel industry to receive the highest rating.
POSCO's seven major programs for shared growth are opening-type sourcing (e-catalog), fair payment at right time, benefit sharing, POSCO-type productivity innovation, innovation growth support group, job matching for your dream, and corporate citizens' friends.
The Win-Win Growth Index is an index that has been regularly published once a year by the commission since 2011 for the purpose of promoting shared growth between large and small businesses.
The commission calculates the shared growth index by combining the commission’s comprehensive evaluation of shared growth and the Fair Trade Commission (FTC)'s implementation evaluation of fair trade agreements.
The companies subject to evaluation are those with high social interest among the top companies in domestic sales and have great ripple effects depending on their evaluation. At this time, 193 companies were subject to the 2019 Win-Win Growth Index.
POSCO, which has been a target of evaluation since the first year, has already set up a dedicated organization for shared growth since 2005 to create a sound industrial ecosystem that is win-win and has a virtuous cycle of economic and social values with small and medium-sized companies.
Recently, the company has established a brand called “Change Up Together” and has been operating a total of 33 programs, including seven major programs. It also includes primary suppliers, partners, and customers, as well as secondary suppliers and non-contractors.
In addition, POSCO formed a 100 billion won "steel co-prosperity cooperation fund" with Hyundai Steel in June this year for small and medium-sized steel companies suffering from COVID-19.
It provides funds at a lending rate that is 1.05 percent lower than the market's, giving practical help to companies that are struggling with liquidity.
