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POSCO Rated World’s Most ‘Ethical’ Steelmaker

Posted May. 12, 2008 03:07,   


POSCO of Korea is the world’s most “ethical” steelmaker according to Cobalance, a Geneva-based consulting firm.

Cobalance calculated its ethical quote score by subtracting the number of negative news from that of positive news on companies between Jan. 1 2002 and March 31 this year. 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.”

Among Korean companies, LG Electronics had the highest score of 101 and ranked fifth in entertainment and leisure.

Overall LG ranked 68th and POSCO 94th. Unilever topped the list with 755 points.