OREANDA-NEWS. July 23, 2012. POSCO established the POSCO-type benefit sharing operation model, `FOCUS` and set up a task force team for benefit sharing system under direct control of CEO to spread the system to the industry as a standardized model of shared-growth, reported the press-centre of POSCO. 

`FOCUS` is the new name of POSCO`s benefit sharing system, with the meaning of `focusing` on shared-growth between POSCO and cooperating companies through benefit sharing. And the name also implies that POSCO will foster(F) cooperating small-and medium-sized companies through its various shared-growth programs, and through open innovation(O) and Collaboration(C) with cooperating companies, they achieve upgrade(U) of durability, deliveries, and quality together and share(S) the achievement according to pre-agreed standards.

Through `FOCUS,` POSCO established 7 benefit sharing models including Joint Performance Improvement Model and Cooperation with Cooperating Company Model. Also, 25 detailed cooperation types were established as a sub-category so that infrastructure which enables various shared-growth activities of POSCO to lead to benefit sharing. So, the accommodation and application possibilities of benefit sharing system are reinforced.

Also, the Company introduced an incentive system for employees participating in benefit sharing system to encourage the participation. Employees who take part in the benefit sharing system can receive up to 3 million KRW in cash or in BS (Benefit Sharing) mileage linked along with CEO prizes. BS mileage can be converted to a donation or cash depending on personal preference.

In addition, ways to discover benefit sharing tasks have been diversified and participation ranges have also been expanded.

While under the previous system, finding benefit sharing tasks were centered on a select number of cooperating companies with access to the steelworks thus having better opportunities to find these tasks, the new system allows POSCO employees to propose an improvement task online or all cooperating companies can participate in the task and register improvement needs in the industrial settings of POSCO.

These registered improvement needs can be viewed online for participation without having to enter the steelworks site. And when evaluating outsourcing partner companies and suppliers, POSCO will proactively reflect their participation levels in the benefit sharing system.
Likewise, as opportunities for open participation and motivation are guaranteed both internally and externally, POSCO`s unique shared-growth based on communication and trust is expected to accelerate.