Korea Times reported that while basking in the spotlight as one of the top players in the global steel industry, POSCO has pushed for cooperative growth with its subcontractors as part of creating a healthy corporate ecosystem with small and medium companies.

In order to seek true mutual growth that includes lower tier subcontractors, POSCO has stood in line with the government's efforts to support them, which has had relatively little benefit from the supposed win win cooperation program.

The company operates the program through all fields of business including financial support, technological partnership, purchase and sales cooperation and education and training under the POSCO Family win win cooperation motto of 3T or Trust, Together, Tomorrow, strengthening support to not only primary subcontractors but also lower tier partner companies.

Mr Chung Joon yang chairman of POSCO said that "So far, the win win cooperation program between major companies and smaller ones have just been focused on the first tier subcontractors, so POSCO will beef up its efforts to lend more support for lower tier subcontractors."

POSCO, a leading player in the cooperation between large and smaller companies, announced measures to stand up for distressed lower tier subcontractors in June 2010.

(Sourced from www.koreatimes.co.kr)