01. Follow sound and fair Trading principles.
- Treat all business contacts with respect, ensuring that all dealings are performed fairly and equitably.
- Refrain from using your position of power to seek undue concessions.
- Contribute to the customer?s profit generation through fair competition in the market.
- Refuse to do business with companies that have committed unlawful acts, including, but not limited to, tax evasion, accounting fraud, and environmental pollution.
02. Conflict of interest
- Neither directors nor employees shall engage in any form of monetary lending or borrowing with -- or otherwise ask for favors from -- interested parties since such may affect the fair performance of business.
- Neither directors nor employees shall provide or receive money, souvenirs, or gifts except customarily acceptable souvenirs or gifts.
- Neither directors nor employees shall provide or receive entertainment or conveniences beyond customarily acceptable levels. Even in unavoidable situations, neither directors nor employees shall engage in acts prohibited by the regulation of the other party.
- Neither directors nor employees shall notify interested parties deemed to affect the business of any congratulatory or condolatory event.
03. Avoid misuse of company assets or information.
- Refrain from using or sharing internal information for personal gain.
- Administer company funds responsibly and effectively.
- Avoid using company supplies and facilities for non-business purposes.
04. Protect confidential information.
- Scrupulously protect confidential knowledge and information.
- Immediately forward important knowledge and information to appropriate personnel.
- Refrain from distorting facts or disseminating false information.
05. Respect people
- Avoid offensive verbal, physical, or visual behavior including sexual harassment, which violates an individual?s human rights.
- Respect each individual?s privacy and avoid slandering other people.
- Break down organizational barriers and create an atmosphere that fosters cooperation.
- Follow the safety precaution and take appropriate measures as soon as a risk factor is found.
06. Protect the environment
- Seek the protection of the environment in all areas of the business including the development, production, distribution, sale, and disposal of the product.
- Actively participate in the eco-activities by minimizing the production of harmful substances, efficient use of resources, and recycling.
- Work for the development and supply of eco-friendly technology including efficiencies of resources and energy.
07. Respect social norms and reputations.
- Set the example for volunteer service in local communities.
- Avoid any conduct that might damage the good name and reputation of the company or fellow employees.
- Refrain from using position to benefit a particular political party or non-profit organization.
08. Establish a culture of ethical excellence.
- Adopt the Code of Conduct as your personal value and conduct standard.
- Immediately report violations of the Code of Conduct by yourself or others to your supervisor or the Corporate Ethics Team.
- Witnesses of ethical violations will remain confidential and be fully protected from possible retaliatory action.
- The company establishes and enforces the POSCO Global Anti-Corruption Guidelines to comply with international anti-corruption laws including separate detailed guidelines.
- The company may establish a separate standard if necessary to operate the ethical standards effectively.
ADDENDUM (amended as of June 2, 2012): (Effective Date) This ethical standard shall enter into force as of June 2, 2012.