Together With POSCO

A company you want to work with

POSCO implements collaborative growth activities on a new level to respond to higher social expectations
and deal with changes in the management environment.
Accordingly, we have expanded from simple support for affiliates to "collaborative growth of corporate citizens,"
seeking economic and social value.

  • INNOVILT
  • Benefit Sharing
  • Open-type sourcing
  • Mutual Steel
    Cooperation Fund
  • Paying the right price
    at the right time
  • POSCO's innovations
    in productivity
  • Collaborative
    Growth Support Group
  • GEM Matching Fund

INNOVILT

INNOVILT

INNOVILT POSCO Newsroom https://bit.ly/2QcKfKb

INNOVILT

POSCO operates INNOVILT, a unified steel building material brand, to carry out the premiumization of steel in the construction market.

INNOVILT news

Benefit Sharing

성과공유제 POSCO Newsroom http://bit.ly/2xa2wdC

Benefit Sharing

POSCO implemented the benefit-sharing system in 2004. It allows affiliates and POSCO to carry out improvement activities together and share the resulting benefits. Participating corporations can receive various incentives in cash rewards amounting to 50% of financial results from implementing projects, long-term supply contracts of up to five years, etc. This has contributed greatly to the localization of materials, parts, and equipment.

Benefit sharing
implementation results (2018-2020)

  • 522 projects executed
  • Benefit rewards: KRW 133.6 billion

Benefit Sharing news

Open-type sourcing

Open-type sourcing POSCO Newsroom http://bit.ly/331tJOE

Open-type sourcing

We have opened an e-catalog system (supplier item promotion system) where suppliers can promote their goods without the need for actual visits. This allows suppliers who don't have established trading relationships to introduce their products freely.

E-Catalog system implementation results (2020)

  • 897 companies registered
  • 13,622 items introduced
  • 9,131 items purchased through contracts

Open-type sourcing news

Mutual Steel Cooperation Fund

Mutual Steel Cooperation Fund

Mutual Steel Cooperation Fund

POSCO created a KRW 100 billion Mutual Steel Cooperation Fund with Hyundai Steel to help small and medium-sized steel businesses overcome the COVID-19 crisis and support their liquidity. Companies, including non-trading companies, can receive low-interest loans to help resolve urgent financial difficulties.

Mutual Steel Cooperation Fund implementation performance

  • POSCO and Hyundai Steel's transactions
    with other companies worth KRW 800 billion
  • Transactions with non-trading companies
    worth KRW 200 billion

Paying the right price at the right time

Paying the right price at the right time

Paying the right price at the right time

To support the liquidity of funds and lessen the financial burden of small and medium-sized businesses, POSCO has been paying the full amount of all deliveries in cash since 2004. In addition, starting in 2018, the lowest price bid policy has been discontinued in favor of various fair trade bidding systems (low-price bid restrictions, market price competition bidding system, total cost evaluation bidding system, etc.).

Paying the right price at the right time

In 2019, POSCO introduced the subcontractor mutual payment system, through which POSCO guarantees the collection of payments by directly providing subcontractor payments. In addition, POSCO has expanded transactions with companies with employees with disabilities, social enterprises, etc., and provided incentives through a "preferential purchase system for socially friendly companies." Through this, POSCO strives to strengthen the industrial ecosystem with its business partners to guarantee reasonable margins and create a culture in which socially friendly companies are respected.

Paying the right price at the right time news

POSCO's innovations in productivity

POSCO's innovations in productivity POSCO Newsroom http://bit.ly/2yQxtVj

POSCO's innovations in productivity

POSCO uses an innovative strategy called quick six sigma (QSS) to run "smart capacity enhancement consulting" that supports day-to-day improvements for SMEs, etc. In association with this, POSCO participates in the "Smart Facility Building Support Project for the Coexistence of Large, Small, and Medium-Sized Businesses" to support the productivity enhancement of SMEs through smartification and optimization of processes.

POSCO's productivity
innovation
implementation plans (2019-2023)

  • KRW 20 billion involved

POSCO's innovations in productivity news

Collaborative Growth Support Group

Collaborative Growth Support Group POSCO Newsroom http://bit.ly/2Paotne

Collaborative Growth Support Group

POSCO created the Collaborative Growth Support Group in December 2020 to strive to resolve the difficulties SMEs face in recruiting new personnel and lacking technological development capacity. The support group applies POSCO's professional capacity to the needs of SMEs in four areas (smart factory creation, ESG issue resolution, facility/energy efficiency, and introduction of new future technologies) to support enhancements in quality and productivity for each company, in addition to lowering costs. POSCO will continue to enhance the virtuous cycle of increased competitiveness for the industry as a whole.

Collaborative Growth Support Group news

GEM Matching Fund

GEM Matching Fund POSCO Newsroom http://bit.ly/2QeIoSE

GEM Matching Fund

POSCO has created a matching fund with global raw material suppliers to contribute to human resource development, etc. Besides the literal meaning of "gem," GEM also stands for "Go the Extra Mile," referring to corporate citizen POSCO's steps forward for social development.

GEM Matching Fund news