Sunday , July 25 2021

Economic-social Value Virtual Circle … POSCO Launches "Choi Jung-Voo Reform" – Kookmin Ilbo



The POSCO Group has begun its "Choi Jung-Voo Management Reform," which promotes economic value and social value. We have created an organization that fulfills our responsibilities as a "corporate citizen," addressing problems with low birth rates and establishing a fair trade culture.

The POSCO Group announced the "Top 100 Reform Challenge", attended by all the group leaders at the POSCO Management Reform Practice Contest held at the POSCO Talent Creation Center in Songdou, Incheon on the 100th anniversary of its inauguration on May 5, the Five Major Governance Reforms. "The basic principle of the reform task is" All together, without discrimination, the best results ".

Over the past 100 days, Choi has received more than 3,300 suggestions from all spheres of life and got ideas on innovation for the work of the group's executives. According to the sales plan of 100 trillion won and operational profit of 13 trillion won by 2030, we set specific targets, such as the first place in the metal industry of respected companies in Pocheon in 2023 and 130th place in the corporate value of Forbes.

We will return to organizational restructuring in accordance with the reform plan. In order to fulfill its responsibilities as a corporate citizen, POSCO will establish a Citizens Citizens' Committee, which will be composed of directors, extraordinary directors and external experts within the Board of Directors. Within the commission, the "Citizens' Office", which is a current organization, was created to support the activities of the commission.

In the group's business, POSCO and POSCO Energi intend to integrate LNG import business into POSCO Daevoo in the middle of Liquid Natural Gas (LNG) and increase LNG trade. Steel work will continue to increase its high-value products and by the year 2025, it will achieve 12 million tons of automotive steel sales and provide its status as the global leader in the steel plate for the automotive industry. In the development of technology, we will lead a shift to move to an open technology security system by extending technical cooperation and alliances without insisting on self-confidence and the development of self-technology.

In line with the new workplace management environment, the company plans and creates a model of culture of work management through dialogue and compromise. In addition, the pay gap is gradually disrupted from the level of co-prosperity with partner companies, and POSCO employees are called upon to "forcefully harass" support for employees at POSCO.

POSCO also plans to improve the flexible work system and support delivery system to help address low fertility problems. Pohang, Gwangiang, Seoul, Songdo, etc. It will be expanded so that group companies can use them together. Also, in order to establish a fair trade culture, suppliers working for retirees (OB) must register the facts and plan to create a system that can block preferential services by purchasing 100% of the competition on transactions.

"With all interested parties, we create a corporate ecosystem where economic value and social value are well-meaning, without discrimination." "With commitment and top expertise, we are committed to the way we do business," he said. POSCO plans to announce an organizational restructuring plan early next month.

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