Local Community Communication

    From the beginning of the foundation, POSCO has considered growing alongside local communities as a key responsibility. Guided by principles and trust, we engage in sincere communication with communities, collaboratively addressing issues and striving to create a better society.

    Local Community Communication Organization

    To address issues that negatively impact local communities during the operation of existing business sites and the implementation of new projects, we have established dedicated local cooperation, communication, and environmental teams at the Pohang and Gwangyang Steelworks. When necessary, we collaborate seamlessly with relevant departments at our headquarters to resolve issues.

    EstablishingLocal Community Protection Policy and Communication Process

    Our policy to guarantee a local community’s basic rights, including environmental rights, safety and health, and human rights, is integrated into the company’s human rights management guidelines. To uphold these rights, we have developed a stakeholder communication process, engaging in regular and irregular meetings to discuss and implement solutions for various issues and to explore directions for future development.

    Local Community Communication Process
    1. Stakeholder Identification
    Identifying stakeholders affected by the economic, environmental, and social impacts of the business site, including government agencies, civic groups, and environmental organizations
    2. Operation of Communication Channels
    Considering the characteristics of stakeholders (local resident briefings/meetings, exchanges with civic groups, environmental improvement councils, etc.)
    3. Information Provision and Two-Way Communication
    Providing sufficient information on matters requested or concerned by a local community
    4. Feedback and Disclosure of Key Information
    Conducting additional communication based on feedback from a local community and disclosing key information.
    Regular Council

    company actively participates in the ‘Sustainable Development Council,’ which comprises various stakeholders, including local governments, environmental organizations, and academia. Within this council, we analyze key local issues, develop improvement plans, and monitor progress, ensuring that stakeholder opinions are collected and incorporated throughout the entire process. (Communication frequency: once per quarter)

    Minimizing Negative Impact on Local Communities

    The company is committed to identifying, mitigating, and resolving any negative impact that business activities may have on local communities. For new investment projects, we consider potential risks and response measures for a local community using an ESG checklist from the investment review stage. Despite preemptive risk management efforts, should issues arise, we thoroughly incorporate the local community’s feedback to develop and implement solutions, and we conduct post-implementation monitoring to assess the effectiveness of these measures.

    Risk Management Process
    1. Identifying Negative Impact
    • Collected through grievance handling channels or local community councils
    • dentified during business site operations or the review process of new projects
    2. Loacl Community Risk Assessment
    • Evaluating negative impact on safety, human rights, and the environment (conducted through internal investigations or by external professional agencies)
    3. Debeloping Improvement Plans
    • mplementing effective mechanisms to resolve grievances (incorporate community feedback into plans)
    • Establishing mitigation, minimization, and compensation measures based on the results of the risk assessment
    4. Monitoring and Reporting
    • Evaluating the effectiveness of improvement measures
    • Disclosing performance results through the website
    Operational Case
    Identifying potential environmental risks such as noise and visibility pollution related to 'maintenance of equipment' during business site operations
    After developing simulation-based improvement plans, we engaged in communication with the local government and nearby residents (conducted four prior briefings)
    The work was carried out after incorporating feedback, resulting in no negative impact