SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15D-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June,2003
Commission File Number: 1-13368
POSCO
(Translation of registrant's name into English)
POSCO Center, 892 Daechi 4-dong, Kangnam-gu, Seoul, Korea, 135-777
(Address of principal executive office)
(Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.)
Form 20-F [ _x_ ] Form 40-F [ ____ ]
[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ____ ] No [ _x_ ]
[If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b) : 82- _____________.]
POSCO is furnishing under cover of Form 6-K:
Exhibition 99.1 : POSCO announced the updated its Code of Ethics as released
today. An English-language translation of documents with
respect to the its Code of Ethics.
o EXHIBIT 99.1
POSCO CODE OF ETHICS
POSCO established and declared the its Code of Ethics in 1993, but rapidly
changing business environments at home and abroad demand that it practices a
further enhanced its Code of Ethics.
POSCO announced that the updated its Code of Ethics, as released today,
deals with the values and behavioral standards that all its employees must
comply with, in both their professional and daily life.
1. Fundamental Obligations
o By committing ourselves to the "Right Path", by our uncompromising
adherence to the basic principles and the observance of our values, POSCO
will become one of the world's most admired and trusted companies.
o To this end, with continuous innovation, enhancing growth potential,
establishing unwavering values and setting higher standards in ethics,
POSCO will develop along with all interested parties and become a company
that is -
- a company people are eager place to do business with.
- a company people are eager to invest in.
- a company employees aspire to work for.
o With this as vantage point, we established a Code of Ethics, dealing with
values and behavioral standards with which every person at POSCO has to
comply with faithfully.
2. Customers and Business Partners
o Value the customer as priority number one when conducting POSCO's business
and provide the best products and services.
o Develop amicable relationships with suppliers by ensuring equal
opportunities and guaranteeing reasonable terms and conditions.
o Promote competition with competitors in a manner of goodwill and comply
with the trading order.
3. Stockholders and Investors
o Realize reasonable profits through transparent decision-making processes
and efficient management activities.
o Increase corporate value through continuous management innovation and
growth strategies.
o Respect the rights and investment returns of stockholders and investors and
provide necessary information in a timely manner.
4. Employees
o Respect the creativity of individuals and provide fair opportunities for
competition amongst employees in order to ensure that they are able to
achieve their full potential.
o Don't discriminate on the basis of academic clique, regionalism, gender,
age, religion, etc.
o Establish and expand a corporate culture of
confidence, trust and understanding among all employees.
5. Communities - National, Local and International
o As a corporate citizen, accept social responsibility and abide by all
national regulations and laws.
o Respect the traditions and culture of local communities and strive to
prosper and develop alongside these communities.
o Comply with international conventions on human rights, the environment,
culture and the economy, as well as with the laws and accounting
regulations of local countries.
RULES OF CONDUCT
(1) Fair trading
Comply with a sound and fair trading order.
o Treat all business dealings with mutual respect and make sure that all
dealings are performed fairly and equitably.
o Don't make any unreasonable demands from a position of advantage over
others.
o Don't conduct business with companies that have been convicted of tax
evasion, accounting injustice or environmental contamination.
(2) Conflicts of interest
With regard to company business, don't perform inappropriate behaviors that may
affect interested parties.
o Don't behave inappropriately, such as soliciting or borrowing or lending
money, which may affect company business, with interested parties.
o Don't give or accept money or any other offerings, unless they are within
the acceptable limits of souvenirs and gifts.
o Don't give or accept, other than at reasonable level, customary business
amenities such as meals and entertainment. On the occasion when it is
unavoidable, don't perform any act that is prohibited by the rules of the
recipients.
o Congratulation and condolence expenses are recommended to be within the
reasonable level of KRW 50,000, not exceeding KRW 100,000 in any special
case, and interested parties should not be informed of congratulation and
condolences as it may affect company business.
(3) Protection and proper use of company assets
Don't make private profits using company assets or inside information.
o Insider trading is strictly prohibited.
o Administer company assets and funds responsibly and in good faith.
o Don't use company supplies and facilities for purposes unrelated to company
business.
(4) Confidentiality
Protect the company's critical information and share useful information.
o Thoroughly protect confidential and critical information.
o Upon acquiring critical information, convey it only to those who need it
for conducting business.
o Don't distort information or disseminate false information.
(5) Respect the dignity of all POSCO employees
Create a corporate culture of mutual trust and respect.
o Don't perform any verbal, physical or visual act that may offend other
people.
o Respect each individual's privacy and don't vilify or harm others.
o Break down barriers between organizations and create an organizational
atmosphere of mutual cooperation.
(6) Social responsibility
Respect social norms and protect POSCO's reputation.
o Take the lead in serving the community as an exemplary member of the
community.
o Don't perform any act that damages the dignity of POSCO or POSCO's
employees.
o Don't abuse your position in the company and engage in any activities that
may benefit any political party or social group.
(7) Encouraging the reporting of illegal or unethical behavior
Establish a corporate culture of practicing this Code of Ethics.
o Comply with this Code of Ethics as a behavioral value.
o If you violate this Code of Ethics, or become aware of its violation, you
should immediately inform your supervisor or the manager of the Corporate
Ethics Team on whatever you know or have heard.
o Those who report unlawful or unethical conduct will be protected by the
company and shall not be disadvantaged.
o If necessary, detailed guidelines can be provided to aid efficient
compliance with this Code of Ethics.
Integrity self-test
o Does seeing your work made public induce a sense of shame?
o Is your time and authority being put to company use?
o Do you make unreasonable demands of others?
o Are you active in pursing company business?
o Are you working in the best possible way?
Commitment
I, the undersigned, hereby pledge to honor and practice the content and
principles of this code, faithfully and sincerely.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
POSCO
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(Registrant)
Date June 2, 2003 By /s/ Sohn, Yong-Ho
----------------------------------- ---------------------------------
(Signature)*
*Print the name and title under the Name: Sohn Yong-Ho
signature of the signing officer. Title: General Manager of Finance
Management Department