OREANDA-NEWS. July 05, 2013. POSCO, in commemoration of the 10th anniversary of proclaiming ethics standards, held a New Ethics Management Proclamation at the POSCO Center, presenting a new model of ethics management that companies must strive for.

Vice Minister Lee Bokshil of the Ministry of Gender Equality and Family, Federation of Korean Industries Vice Chairman Lee Seungcheol, Siemens Korea CEO Kim Jonggab and other figures from all areas of society attended to offer congratulations on POSCO`s New Ethics Management Proclamation.

CEO Chung Joonyang announced 3 core values as the future, public good, and win-win under the vision of `Happiness Management` of POSCO`s new ethics management for `A better world where all are happy!` CEO Chung said, ``As a new era of capitalism has dawned, corporate management paradigms are also changing. We must establish a more systematic and firm execution framework on human rights and the environment as a global company.`` He added, ``We also need management of communication of win-win and growth together with our various stakeholders.``

To execute happiness management, POSCO announced that it will proactively carry out overseas contribution activities in connection with global cooperatives and industry-academic cooperation institutions, and also expand innovation support activities for small and medium companies to participate in the Industry Innovation Campaign 3.0.

Further, 210 billion KRW will be contributed for results compensation investment funds throughout 3 years, creating good quality jobs, and strengthening flexible work hours and workplace childcare services for work-life balance.

POSCO, for efficient execution, will newly establish and operate a Happiness Management Committee and enhance related regulations and guidelines within the company. In addition, the company plans to support the Happiness Management Open Forum jointly operated by POSRI, academia and management.