POSCO Group Supports Introduction of Fair Trade Compliance Program for Mid-sized Companies

POSCO Building, Yeoksam-dong, Gangnam-gu, Seoul. Photo by Younghan Heo younghan@

POSCO Group, together with the Korea Federation of Medium-Sized Enterprises, has launched support initiatives to operate and promote the Fair Trade Compliance Program (Compliance Program·CP) among domestic medium-sized enterprises.

On the 29th, POSCO Group held a ‘CP System and Fair Trade Act Briefing Session’ at the POSCO Center in Seoul for POSCO Group companies and their partners. Representatives from seven medium-sized enterprises interested in adopting the CP also attended. Starting with this briefing session, POSCO Group plans to support the early establishment of CP in medium-sized enterprises through systematic support activities, including four annual on-site visits and continuous coaching by dedicated staff, covering explanations of fair trade-related laws and building essential elements for CP adoption as guided by the Fair Trade Commission.

This support by POSCO Group for the introduction of fair trade CP to medium-sized enterprises marks the first full-scale CP collaboration between large corporations and medium-sized enterprises without transactional relationships, serving as a model case for the autonomous culture of fair trade compliance in the industry and the spread of compliance management from an ESG perspective.

At the briefing session, Hwang Hyun-woo, Deputy General Manager of Wonik QnC Co., Ltd., a semiconductor materials and components manufacturer, said, "We expect POSCO Group’s CP support program to greatly assist in the early establishment of fair trade compliance systems in medium-sized enterprises, and we hope that inter-company exchanges to promote CP dissemination within the industry will be activated."

Meanwhile, since the Fair Trade Commission introduced the CP grading system in December last year, POSCO Group has set the record for the most companies?10 within one corporate group?receiving the highest grade. The group continues to enhance CP levels annually and aims to have 20 group companies hold the highest grade by 2025.