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Posco International Corporation POSCO INTERNATIONAL CORPORATION Sustainability Report 2019 About This Report The 2019 POSCO INTERNATIONAL Sustainability Report, the forth annual publication, illustrate the Company’s performance fulfill- ing its economic, social, and environmental responsibility. POSCO INTERNATIONAL aims to transparently disclose its sustainability management activities for the year 2019 and communicate with wide-ranging stakeholders. Reporting Guidelines Global Reporting Initiative(GRI) Standards: Core Option Reporting Period January 1, 2019 ~ December 31, 2019 * 2017 ~ H1 of 2020 for a portion of the performance data Reporting Scope Economy: On a consolidated basis in accordance with the K-IFRS 〮 Society & Environment: POSCO INTERNATIONAL Headquarters, 〮 POSCO SPS1), and overseas worksites (Myanmar, Indonesia, and Uzbekistan) Areas where major operations are based: Republic of Korea 〮 1) This refers to the STS Division, the TMC Division and the Plate Fabrication Division that were split off as subsidiaries in April 2020. Reporting Cycle Annually(publication of the most recent report: 2019) Assurance Financial data: Earnst & Young Han Young 〮 Non-financial data: DNV GL 〮 Contact Details Address: 165 Convensia-daero(POSCO Tower-Songdo), Yeonsu-gu, Incheon, Republic of Korea Tel: +82-2-759-2861 Department in charge: Sustainability Management Section E-mail: [email protected] POSCO INTERNATIONAL CORPORATION Sustainability Report 2019 03 Global CSR Activities 01 We Make Sustainability 02 Sustainability Management Strategy 102 Global CSR Overview 104 Myanmar 112 Indonesia 120 Uzbekistan 02 CEO’s Message 04 Corporate Citizenship and 2019 Highlights 12 Company Overview 14 Business Overview 18 Global Network 20 Governance 22 Risk Management 24 Sustainability Management System 36 Enhancing Business 04 26 Contribution to the UN SDGs 56 Reinforcing Ethics Management Appendix 28 Value Creation Process 64 Promoting Talent Development / Respecting Employees 30 Total Impact Measurement 129 Financial Statements 78 Communicating with Stakeholders Management(TIMM) 133 GRI Index 90 Advancing Eco-friendly 32 Materiality Analysis 137 SASB Index / Management UN Global Compact CoP 138 Independent Assurance Statement 140 Certificates and Trademarks / Memberships 02 POSCO INTERNATIONAL Corporation Sustainability Report 2019 CEO’s Message CHANGE BEFORE Each and every one of us at POSCO INTERNATIONAL will YOU HAVE TO recognize the reality as it is and change before we have to so that we can fully satisfy the requirements of the international community and ensure our sustainable growth in so doing. 03 We Make Sustainability Sustainability Management Strategy Global CSR Activities Appendix Dear Respected Stakeholders, I would like to extend my heartfelt gratitude for your unwavering In addition, POSCO INTERNATIONAL promotes sound communica- interest in and encouragement for POSCO INTERNATIONAL. tion with wide-ranging stakeholders to satisfy the standards adopt- ed by the international community. Last March, we became the first Today, the world is facing an unprecedented challenge amid the Korean company to announce the sustainable palm oil business poli- rapid dissemination of COVID-19. As it is virtually impossible to pre- cy(NDPE policy), and we fulfill our social responsibility and obligation dict how the situation may unfold, POSCO INTERNATONAL is fully in the countries where we operate to fully commit ourselves to resolv- committed to swiftly responding to this global emergency with the ing global environmental and social issues. firm belief that the ‘health and safety’ of all stakeholders as well as our employees come first before anything else. We take a precau- To comply with international norms on ethical mining and mineral tionary approach to curbing the spread of COVID-19 across commu- consumption and to fulfill social responsibility in this regard, we es- nities by preventing this infectious disease through stringent control tablished a responsible supply chain management system and prac- measures and publicizing and observing daily safety guidelines. We tice sustainability management as a key part of our corporate policy also have provided policy support for work & life balance to enable in cooperation with POSCO Group. This will undoubtedly allow us to our employees to take care of their children while working at home, collaborate with stakeholders who surround us and share values with and have improved our IT system and management infrastructure to them and to broaden our horizon into the wider global community to create a well-functioning virtual work environment for employees. address the harsh reality of today as a sincere global corporate citi- zen. In line with POSCO Group’s management philosophy of ‘Corporate Citizenship: Building a Better Future Together’, we have come for- Dear Stakeholders, ward to pursue win-win cooperation with our domestic/overseas It is in the moment of crisis that we should do our own part sincerely partners and local communities who are suffering from the pro- and faithfully to drive the sustainable development of the Company. tracted COVID-19 outbreak. We rushed to donate diagnostic kits de- veloped by a competent Korean SME venture business to countries “Change before you have to.” where quality healthcare services are barely available, and leveraged our extensive overseas network to donate disease prevention sup- While uncertainties are perceived by businesses as threats that are plies to join hands with business partners in weathering this crisis. hard to handle, we are convinced that we can surely generate even more valuable outcomes if we focus on our assets and capabilities ac- Even in the face of deteriorating business conditions, POSCO INTER- cumulated over the years through communication with stakeholders NATIONAL has not only lasted successfully for the past 53 years but and cope with changes of the future even before they occur. also set new records in operating profit two years in a row in 2018 and 2019 to further solidify its current position. We truly believe that Once again, we would like to thank you for your everlasting interest this would not have been possible without our relentless pursuit of in and support for POSCO INTERNATIONAL, and vow to emerge as a challenge and the enthusiastic encouragement extended by our company fully trusted and beloved in the years ahead. stakeholders. We wish all our stakeholders always stay safe and well. While we focus on investing in and developing our strategic business Thank you. in the steel, E&P, agro and LNG sectors, we will also explore and pur- sue business opportunities and new promising materials in the mo- bility, chemical, non-ferrous metal and power infrastructure sectors in alignment with POSCO Group. In particular, we aim to harness our global network and marketing capabilities to tap into new markets, translate diverse business ideas into action through flexible thinking while identifying and investing in competitive Korean SMEs to con- stantly expand shared growth. President & CEO, POSCO INTERNATIONAL Joo Si-Bo 04 POSCO INTERNATIONAL Corporation Sustainability Report 2019 Corporate To gain greater trust from all stakeholders as a company, POSCO Group announced a new vision ‘With POSCO’ and set forth a new management philosophy ‘Corporate Citizen- Citizenship and ship: Building a Better Future Together’ in 2018. A ‘Corporate Citizen’ refers to a company 2019 Highlights that voluntarily fulfills its responsibility to serve the interest of society at large in recog- nition of its rights and duties as a member of society. Vision/Core Value of Corporate Citizenship Management Philosophy Corporate Citizenship: Building a Better Future Together Vision Field of Activity BusinessBusiness Partners SocialSociety communities POSCOPeople Group (partners, customers, and individuals employees and suppliers) (local communities and neighbors) · Practice of fairness, transparency · Contribution to addressing social · Creation of a safe and pleasant work and ethics issues with empathy environment · Shared growth · Development of local communities · Fair HR affairs & stable · Best products & services & environmental management labor-management relations · Participation in philanthropy · Diversity & inclusion, and improvement of work-life balance at workplace POSCO Talent Talent with the mindset of action, consideration and creativity Code of Shiljil( , Substance) Shilhaeng( , Execution) Shilli( , Practical) Conduct 實質 實行 實利 Core Value Safety Win-Win Ethics Creativity POSCO INTERNATIONAL as a Corporate Citizen Business With Society With People With POSCO INTERNATIONAL POSCO INTERNATIONAL POSCO INTERNATIONAL We will generate greater economic and We will take note of social issues, and pro- We will recognize employees as our most social values through ethical business con- actively communicate and cooperate with valuable asset and support their growth duct with all our business partners, includ- wide-ranging stakeholders for their reso- into global talent. We will provide a safe ing shareholders, investors, customers, and lution. We will protect the human rights of and pleasant work environment to those suppliers. We will comply with stringent members of society and take on stronger engaged in our business as well as business laws and regulations in the countries and responsibility for environmental preserva- partners. regions where we operate as well as inter- tion. national standards. 05 We Make Sustainability Sustainability Management Strategy Global CSR
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