Driven to gain world-class recognition through our commercial and consumer products, we at POSCO E&C are striving to build a flawless system that enhances the quality of our products. Deeply seated in our mindset is the belief that building "home with comfortable living arrangements", "sturdy buildings" and "excellent facilities" is the best way to make corporate endowments to our society and our consumers even if achieving this goal comes at the expense of faster work speed and simpler process. At the heart of the construction business is the building site. That is because the building site is
where the profit is generated for the construction industry.

Not only is ethics management a genuine and momentous topic set forth by our contemporaries, but it also represents the moral principle of both the highest value and utmost importance pursued by POSCO E&C since its foundation. Throughout the course of time, we have witnessed the downfall of short-lived companies that have shortsightedly sacrificed transparency for their imminent profit,
gradually losing clients' trust, and in the end filing for bankruptcy. Through ethics management, we at POSCO E&C are doing our utmost to root out substandard constructions that are the source of
irregularities and to achieve trustworthy construction quality, thereby realizing customer satisfaction. In effect, as an exemplary enterprise with the highest transparency and lofty standards, we will
spearhead the task of reforming some of undesirable business culture in Korea's construction sector.

One of the most detrimental remnants in the Korean corporate culture is the practice of a closed management. A closed space blocks out the sunlight, the absence of which will only mold and rot
away. In contrast, POSCO E&C practices open management that empowers our entire workforce with independence to openly share information, which in turn serves as a basis for employees'
self-development, and to maximize ingenuity and creativity through open and casual communications and exchanges.