October 07, 2008

POSCO rated world’s most ethical steelmaker

According to Cobalance a Geneva based consulting firm Korea POSCO is the world’s most ethical steelmaker

Cobalance said that it calculated its ethical quote score by subtracting the number of negative news from that of positive news on companies between January 1st 2002 and March 31st 2008. The news includes media reports and documents released by civic groups.

The survey covered some 200 global companies, or 20 companies each in 10 industries such as cars, banking and chemicals.

POSCO ranked sixth among 16 iron and steel companies worldwide and first among the top four steelmakers, such as Nippon Steel and JFE of Japan and China Steel of Taiwan.

The Korean firm was also named the most ethically developing company and the company with the most positive news.