Win-Win Growth Program
01 Benefit Sharing
POSCO E&C has implemented benefit-sharing system since 2008 through joint activities with its suppliers to improve product quality and share the benefits of it with them. This program has brought POSCO E&C reduced costs, enhanced quality and brought the suppliers improved management structure.
02 Financial Support
POSCO E&C, together with POSCO, has financially supported subcontractors during times of financial difficulties through the formation of a Support Fund. This system is funded from the fixed deposit of around USD 740 million, and provides loans to small businesses through banks with an interest rate 1-2% lower than the market interest rate.
03 Product Development Under Conditional Purchase
This system provides small businesses with a secured opportunity to supply its product for a certain period of time by designating POSCO E&C as future purchaser of the product, provided that the business localizes any imported products or develops new products that support the technical development and stable management of small businesses. While this system can ensure small businesses of secured customers, POSCO E&C can realize improvement in productivity through cost savings and quality improvements.
04 POSCO SMEs Job Training
POSCO E&C has been operating education programs for employees at SMEs. The courses utilize quality lecturers, facilities and systems at POSCO’s Education Center to improve the technology capability of SMEs by training their new and existing employees. This training system contributes to the growth of small businesses through comprehensive support, ranging from training to technical support, and to the competitiveness of Korea in the long run.
05 Win-Win Growth Supporters
Win-Win growth supporters were put together in November 2010 to support SME partners.
The supporters, consisting of POSCO E&C's executives and employees, help SME partners solve their issues through one-on-one customized consulting.