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Code of Ethics

CEO Message

Building on POSCO’s proud history of patriotism in steelmaking based on sacrifice and service, we have contributed to the development of Korea’s construction industry with a founding spirit of no collusion, no dumping, and no poor construction, which represents the spiritual foundation that must be permanently preserved and cultivated by all POSCO E&C members.

The values of integrity, fairness and trust have been the greatest assets that made POSCO E&C what it is today, and they also embody the greatest value criteria that will sustain POSCO E&C and open up a new future.

POSCO E&C has secured reliable governance and footholds for expanding global business by attracting capital from PIF. To become a global top-tier constructor, however, we should not only reinforce our business capabilities but we should also comply with the highest global level of ethical standards, including compliance with the Foreign Corrupt Practices Act (FCPA).

To win the increasingly intensifying competition in the construction industry amid growing external uncertainties, all of our members should expand on our values of insight & wisdom, trust, benevolence, courage and strictness. In particular, strictness means that you comply with the basics and principles when you do your job.

My fellow colleagues! Please keep in mind that ethics is always our top priority for the sustainable growth of our company although our sales and profits might be temporarily reduced in the course of complying with basics and principles.

Our company will never tolerate any violation of the four unethical practices such as accepting bribes, embezzlement, fabrication of information, and sexual harassment.

My fellow colleagues! We must firmly establish an ethical corporate culture and allow ourselves to become the best trading partner for clients, the best investment for shareholders, and the best workplace for the enduring happiness of employees. Accordingly, we must evolve POSCO E&C into a company that achieves win-win growth and development alongside all of our stakeholders.

This is the way we can make a move toward a sustainable global top-class company.

February 2016 POSCO E&C CEO Han Changun