The state antitrust agency imposed sanctions on steelmaker POSCO, after the company engaged in greenwashing, an act of misleading the public to believe that it is doing more to protect the environment than it actually is.

The Fair Trade Commission(FTC) on Thursday announced a correction order against a violation of the Act on Fair Labeling and Advertising by POSCO and POSCO Holdings.

According to the FTC, POSCO advertised company-certified "INNOVILT" products on its website and in press releases, claiming they were made using "eco-friendly steel building materials."

While POSCO certifies its clients' products that have been manufactured using its steel materials, the level of eco-friendliness is low on the assessment scale and the certification does not always mean that the products are eco-friendly.

The steelmaker also described INNOVILT, as well as labels "e Autopos" and "Greenable" as its three major eco-friendly brands.

The latter two were found to be the company's strategic brands representing steel materials that can be used in electric vehicles and wind energy facilities.