POSCO

Necessity and Enactment of the Code of Conduct: The competitiveness of world leading companies is determined not only by how outstanding their facilities and processes are, but also by the conduct of their manpower. In full awareness of this fact, POSCO enacted and declared its Code of Conduct on June 2, 2003 in order to implement corporate ethics that meet internationally accepted standards, thus making another bold step toward becoming a globally respected and trusted company.

"An employee who makes a mistake can be forgiven, but one who acts unethically will not be tolerated." "Do not make any decisions that violate corporate ethics even if those decisions bring the company more profits."

POSCO's ethical management can be summarized as "the construction and implementation of systems leading to spontaneous practices through full participation of employees and understanding from interested parties." For this purpose, the Company emphasizes the exemplary activities of the manager class and focuses on uplifting the ethical awareness and judgment of members through constant repetitive education.

In 2005, POSCO will manage more various systems and implement more effective activities based on education programs that empower efficiency in 3P - People, Practice, and Process - by enhancing the ethical thinking of members and achieving full practice of corporate ethics as a natural part of corporate culture.
Composition and Contents of the Code of Conduct: Code of Conduct satisfies its objective to become a true global company trusted and respected by the world and is intended to induce the full empathy and voluntary practice of all executives and employees. The main body of the Code of Conduct states the ethical standards and principles of the Company for its interested parties, introduces behavioral regulations that specify all behavioral standards of its corporate members, provides a set of practice guidelines that illustrate how to abide by ethical decision-making standards for 10 possible cases of corruptions and violations with interested parties, and offers self-diagnosis questionnaires in relation to corporate ethics. The self-diagnosis is printed on the back of the corporate ID cards of all employees, so each individual can check their level of ethical practices.

POSCO also published the ¡°Business Ethics Handbook¡± and distributed it to all executives and employees to assist in their understanding of the Code of Conduct. The Handbook includes specific interpretations and answers to frequently asked questions related to the Code of Conduct.
Spontaneous Signatures of All Members: The Code of Conduct is classified into regulative and practical characters based on formats, applications, and enactment processes. To improve the effectiveness of its practices, POSCO required each member to sign a declaration on the practice form.

Spontaneous signatures were first received June 2, 2003 - the time of the declaration of the Code of Conduct - from all representatives of labor and management unions and all executives and employees. All POSCO members re-signed the declaration via the Internet prior to the start of operations for the New Year on Jan. 3, 2005, and made their New Year's resolution to strictly observe Code of Conduct.

main_title();