Tuesday , December 1 2020

Economic Center and Securities Maeil



POSCO has decided to create "best value" by virtue of economic and social values ​​through management activities in which all participants of the company participate together. In addition, it is a policy to create a horizontal and cooperative culture, without discrimination in terms of work environment and treatment among employees, group companies and partner companies. It also set the goal of achieving Fortune's "Most Admired Company" status in 2023 and the 130th for Forbes business value.

POSCO announced that it had announced the "Top 100 Reform Tasks" and "Statement of Commitment to the Top Five Reform Practices," which contain the same content in the POSCO Management Reform Practice Contest. held on the 5th,

All POSCO executives signed a commitment to implement management reform.

"We will work with all our stakeholders to create a corporate ecosystem in which economic value and social value can be virtuous circulated without discrimination," said Choi, who announced that he would announce the POSCO Reform project on its 100th day. We will have the responsibility and the best professionalism, and we will immerse ourselves in our core business and carry out the reforms and create the best results. "

The top five management reform commitments signed by all POSCO executives today are: ▲ With POSCO Leading POSCO as a corporate citizen as a leader in managerial reform ▲ Growing with business partners based on passion and highest professionalism ▲ Consideration and respect To create social value through communication and cooperation with the attitude of ▲ sacrifice and spirit of service, and take the initiative to cultivate employees and organizational ability ▲ aim the field based on real, practical and practical, It was composed of contents .

President Choi commented on suggestions for the "Letter of Love" format, executive reform ideas, POS Li's Advisory Professors' opinions, and retirement plans he had always thought of before and after his tenure in July. And I decided on this "great reform project of 100". Especially, 100 days of love letters received about 3300 suggestions, the company said.

POSCO, which confirmed the task of reform, also established plans to achieve KRW 100 trillion in sales and KRW 13 trillion in operating profit in 2030 based on changes throughout the company. The goal was announced at the 50th anniversary celebrations.

First, the steel company plans to increase its sales of automotive steel sheets to 12 million tonnes by 2025, which will continuously increase the share of high-value-added products and ensure its status as the leading global supplier of automotive sheet steel.

In technology development, we have decided to focus on the development of cost-effective technology and product technology rather than large-scale process technology. In particular, the company explained that it is a great change to switch to the open technology acquisition system, expanding the technical cooperation alliance without insisting on the development of self-sustaining magnet technology.

POSCO and POSCO will work together to develop LNG trade, unifying the POSCO and POSCO Energy LNG import business at POSCO Daewoo in the intermediate market for liquefied natural gas (LNG). POSCO Energy's Gwangyang LNG terminal and POSCO Energy by-product by-product will be integrated into steelmakers' power generation projects to increase synergies.

POSCO E & C absorbs overlapping and similar projects in the construction industry, such as group design, supervision and facility operation management.

In addition, POSCO Chemtech plans to establish a new production unit for the production of needle coke, which will be the raw material for cathode materials and electrode rods, using by-products generated during the steelmaking process.

The anode and anode rechargeable battery business, scheduled to be integrated next year, will lead the market by developing a customized product for the secondary battery research center by 2030. The global market share will be 20 % and sales will reach 17 trillion won The group is planning to boost growth in the group. In particular, the new growth business has decided to recruit external specialists as general managers to strengthen their expertise and improve their performance, and to upgrade the organization to the steel sector and the new growth sector equivalent to the steel industry.

POSCO will spend 45 trillion won and will employ 20,000 people by 2023, who will use their own cash to be generated in the next five years. In order to strengthen the field-oriented management, the departments of Seoul that need close cooperation with the field will advance to Pohang and Gwangyang.

The retirement plan to contribute to society as a citizen collectively included the `Corporate Citizens 'Committee' under the BOD and 'Corporate Citizens' # 39; Office` under the Corporate Citizens Committee.

In addition, we will set up a joint research center for industry-academia-research cooperation to revitalize the local economy and solve the problem of youth unemployment. We will establish a risk voucher in Pohang and Gwangyang to take care of risky business and give 5,500 young talents.

Measures were taken to address the problem of low birth rates. First, we will improve the flexible working system and maternity support system and expand the number of day care centers in the main workplaces, such as Pohang, Gwangyang, Seoul and Songdo, so that group companies can use them together.

In the Pohang and Gwangyang areas, POSCO-type parent centers will be opened to the after-school facilities of elementary school children and will be configured as an example of low fertility measures.

At the same time, we will publicize POSCO's excellent management innovation activities, such as QSS and my machine activities, to SMEs, and apply POSCO's Smart Factory technology to the SME sector to strengthen their mutual growth activities to increase their competitiveness.

In order to fully liquidate the fair trade culture, suppliers working for retired employees (OBs) should record the facts and plan to block the source of the preferential treatment based on the principle of 100% competitive bidding on transaction items.

In addition to the long-term stable dividend policy, the company plans to flexibly review how to add additional dividends depending on the year's profits. In addition, external directors will regularly hold IR meetings with outside directors to communicate directly with major domestic and foreign investors, and will also expand shareholder-friendly policies by introducing an electronic voting system that will facilitate the exercise of shareholders' rights .

The content of the work transfer know-how was included in the reform agenda. A mentoring system in which trainees are taught to work internally through a work / learning system, and a technical mentoring system in which employees receive technical and business knowledge for their employees over a long period of time. It is a scheme to institutionalize accumulation.

We will gradually dissolve the pay gap in terms of coexistence with partner companies and open POSCO's welfare facilities to employees of partner companies. In particular, POSCO has decided to open a reporting window for POSCO employees and criticize employees of partner companies.

The 100 Challenges of Reform are based on Choi's three principles, which emphasize the real, the practical, and the practical, to clarify tasks and increase executive power in order to achieve the actual goals already established. .

The company emphasized that it is different from past reform measures, which emphasized changing the external or present appearance of the long-term goal.

POSCO plans to immediately implement the tasks that can be implemented and complete the organizational restructuring and institutional improvement through the first half of next year. In addition, the task of reforming in each field is to appoint the person responsible for the executive level as responsible, and the CEO plans to periodically check progress and practice it flawlessly.

In addition, it plans to announce the organizational reform plan in December and accelerate the implementation of the reform agenda of the '100s.

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