Posco hopes for even more after successful 2022

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Posco hopes for even more after successful 2022

Posco’s Gwangyang steel plant obtained a Responsible Steel Workplace certification this year. [POSCO]

Posco’s Gwangyang steel plant obtained a Responsible Steel Workplace certification this year. [POSCO]

 
Posco is strengthen its stature with exceptional technology and ESG management.  
 
Posco became the first Korean company to be selected as Sustainability Champion of the World Steel Association in April. Choi Jeong-woo, group chairman of Posco was chosen to serve as the chairman of the World Steel Association in October, and also won the Technical Innovation and Sustainability prize at the 2022 Steelie Awards.  
 
Posco won Industry Leadership: Steel Award at the 10th Global Metals Awards held by S&P Global Commodity Insights in October, which recognizes its status as one of the top steelmakers globally. Choi was selected as CEO of the Year thanks to excellent results and leadership in the world’s metal and mining industries.  
 
Posco was selected as the top steelmaker for the 13th straight year by World Steel Dynamics and ranked as one of the most competitive steel companies in the world.  
 
Posco placed first overall with an average score of 8.5 out of ten. It received a perfect score in seven categories - eco-friendly technological innovation, high value-added products, processing costs, human capabilities, new growth businesses, investment environment and national risk factors.
 
“The Hydrogen Iron and Steel Making Forum of Posco is proposing steel industry value chain cooperation and solidarity to speed up the realization of carbon neutrality,” Philipp Englin, CEO of World Steel Dynamics said. Its unique operational capability in steel mills, sustainability in profit creation and financial solvency are the reason why Posco achieved its top rank for the 13th straight year.  
 
Posco’s Pohang and Gwangyang steel plants became the first Asian organizations to obtain the Responsible Steel Workplace certification at the Future Strategy Forum held in Memphis, Tennessee on Oct. 31.  
 
Responsible Steel is non-profit organization which develops standards of environmental, social, and corporate governance (ESG) for the steel industry and runs a certification program.  
 
The Pohang and Gwangyang steel plants have obtained Responsible Steel Workplace certifications contemporaneously, in recognition of their excellence in ESG management system through 9 months of a screening process.  
 
“Posco hopes to become a company creating a sustainable tomorrow with stakeholders based on corporate citizens’ management philosophy,” Kim Hag-dong, vice chairman of Posco said.  
 
“Founded in a small fishing village in Pohang in 1968, Posco has grown into one of the most competitive steelmakers in the world,” Chairmain Choi said.  
 
“We have converted into a holding company, with the aim to become a green materials and energy business. The CEO of the Year award should be shared with all employees and executives of Posco, because it is a result of all their commitment,” he added.  
 
Since his inauguration, Choi has helped the organization become a leading ESG company and enhanced the credit rating from BBB+ to A-.  
 
Posco garnered a total of four awards this year in the categories of Metals Company of the Year, Industry Leadership: Steel and Deal of the Year, in addition to CEO of the Year.

BY PARK YE-EUN [park.yeeun@joongang.co.kr]
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