OREANDA-NEWS. March 01, 2013. The award hosted by the New Industry Management Academy and sponsored by the Ministry of Knowledge and Economy

POSCO won the Grand Prize at the 10th Korea Ethical Management Award, hosted by the New Industry Management Academy and sponsored by the Ministry of Knowledge and Economy and the Korea Chamber of Commerce and Industry.

The Korea Ethical Management Award is given to an enterprise or an entrepreneur who earns trust and respect through improving corporate ethics. POSCO won the Grand Prize, gaining high evaluations in terms of transparent management, social responsibility, environmental management and cultivation of talent.

The judges for the award are renowned professors of domestic academia, with Byung-Hoon Ahn, KAIST emeritus professor, as chair, who evaluated corporate activities with regard to compliance and ethical management, social contribution, environmentally friendly management and cultivation of talented individuals.

POSCO has pursued ethical management at a company level and with its employees and executives who have actively participated since June in 2003 when the company declared its code of ethics. POSCO has put efforts into a variety of activities including training for the establishment of ethical values for its employees, building a variety of systems to facilitate the effectiveness of practicing the ethical values, and promoting activities to prevent risks.

In particular, POSCO has been doing its best to pursue ethical management that emphasizes reinforcement of core competitiveness and social responsibility in order to maintain sustainable growth as a world-class corporation, overcoming difficulties caused by recent changes in the business environment. To this end, POSCO plans to conduct the most necessary activities in an ethical way to eliminate waste of management resources and maximize its competitiveness based on the philosophy of ethical management of ``Do the right things the right way``. Meanwhile, POSCO will focus on developing ownership that will turn risks into opportunities at the level of ethical management.

In addition, POSCO has been actively participating in practicing a ``small wedding`` starting from its executive level as well as settling down with the healthy drinking culture.