POSCO FUTURE M

A system that protects the technology of partner companies by depositing important technical data into the external foundation, Large and Small Business Cooperation Foundation. Large conglomerates that are supplied with products can ensure stable supply and maintenance service even when the supplier closes business due to bankruptcy.

To protect the trade secrets of SMEs, the process has been systemized such that all request for technical data must be made in designated format that contains legal information.

A system that guarantees cash payment on the settlement day, or early payment at a low interest rate for tier 1 and tier 2 suppliers.

The full payment made in cash within 10 business days after the delivery of products, or twice a week for improved liquidity of SMEs.

When we purchase a high-priced facility or equipment for future investment that takes a long time to produce, we provide advanced or interim payments for high liquidity of SMEs.

A program designed to avoid competing on price and the deterioration of the competitiveness of our partners. It also serves the purpose of improving POSCO FUTURE M’s quality management.

Standards for the four practices of fair trade have been established to prevent unfair practices and strengthen competitiveness of the parties when a contract is signed between POSCO FUTURE M and an SME.

Improved the benefit sharing to BS+ by launching a mutual cooperation body and revamping the system.

SMEs can use patents by POSCO FUTURE M by concluding a non-exclusive license agreement. Educational meetings may be held as needed.

Mutual growth activities where departments within POSCO FUTURE M help partner companies to grow using their capacity, infrastructure and know-how.

A fund created to provide low-interest loans to SMEs that have difficulty in financing. Offers win-win cooperation funds and an interest-free loan program for outstanding partners.

Educational programs to train young aspiring refractory lining experts at our vocational centers with professional instructors, and training for people interested in working in the refractory industry.

A program designed to strengthen job capacity of our employees and train vital experts leveraging POSCO’s education facilities, manpower and system. The system is run according to the National Human Resources Development System of the Ministry of Employment and Labor.

We spur growth in our productivity by revamping the governance, manufacturing and production process of SMEs through our QSS innovation initiative. We also provide consultations for building smart factories, including evaluation on the level of smart technologies and identification of new tasks.

POSCO FUTURE M is expanding information sharing and communication activities with partner companies through diverse communication programs. We are also encouraging a culture of mutual development in our tier 1 and tier 2 suppliers.

We designate suppliers that earn the best rating in the annual SRM evaluation or who have made significant contributions to POSCO FUTURE M as our certified partners, instilling pride and offering incentives.

POSCO FUTURE M has set up a system that helps to resolve unfair trade practices, such as delayed payment, unfair reduction of payment and interference with company management. The system is expected to help stabilize the management of SMEs and put in place fair trade practices.

A campaign to invigorate local economy and enhance awareness of safety and environment, participated by suppliers and partner companies.

Employing talents from small partner companies of the POSCO Group. Support for young people to find jobs.

To companies falling into 11 categories in four fields (social enterprises, companies hiring disabled persons, social cooperatives, self supporting companies, family-friendliness-certified companies, women's enterprises, companies with green certification or safety and health management systems, etc.), we provide preferential treatment such as incentives during bidding, relaxation of supplier registration requirements, and additional points in evaluations.