Samyang Holdings, the holding company of Samyang Group, and Samyang Corporation, a food and chemical affiliate, each published their first sustainability report containing management activities, performance, and plans in the ESG field, which is a non-financial element of the company.
This report applied the Core Option of the GRI (Global Reporting Initiative) standard, an international ESG standard guide. The report is divided into environmental, social, and governance areas and was written to provide a better understanding of the overall ESG management of Samyang Holdings and Samyang Corporation.
The environmental section of Samyang Holdings’ sustainability report introduced efforts and achievements for eco-friendly management and climate change response, such as ▲ establishment of environmental safety and health policy ▲ practice of eco-friendly management through the ESH (Environment, Society, Health) system ▲ environmental management education. . In particular, Samyang Holdings Biopharm Group transparently disclosed its water and energy usage and air pollutant emissions, emphasizing the need for and commitment to being eco-friendly.
In the social sector, in order to fulfill corporate social responsibility, it contains management activities and achievements related to ▲workplace safety and health management ▲ensuring product quality and safety ▲promoting social contribution activities ▲enhancing information security. In the governance sector, various efforts and plans for ▲healthy corporate governance ▲ethics and compliance management ▲transparent information disclosure were introduced.
Samyang Holdings CEO Taewoong Eom and Youngjun Lee said, “As we experience COVID-19, the speed of change and uncertainty in the external management environment has grown incomparably with the past,” adding, “Going forward, Samyang Group will continue to pursue the value of Jeong-Do Management, which it has pursued since its founding, through ESG management. “We will systemize it accordingly,” he said.
Samyang Corporation’s sustainability report more focused on ESG management activities and performance in the food and chemical businesses.
First, in the environmental sector, ▲eco-friendly management and carbon reduction activities ▲waste and hazardous chemical management ▲energy management system were created based on various data. In particular, the energy usage and energy reduction activities of each business site located in Ulsan, Incheon, and Jeonju were disclosed and efforts for eco-friendly management were emphasized.
In the social sector, it contains management activities and achievements in ▲customer health and nutrition ▲product safety and quality ▲workplace safety and health management ▲empowerment of executives and employees and toward an inclusive organizational culture ▲sustainable supply chain management. In the governance sector, global and specialty business strategies and major products were heavily discussed in accordance with Samyang Group’s mid- to long-term growth strategy, ‘Vision 2025’.
Samyang Corporation CEO Kang Ho-seong and Choi Nak-hyeon said, “Samyang Corporation will improve its existing business structure based on an ESG perspective and develop new growth engines to leap forward as a global company that supplies specialty materials and solutions to the health, eco-friendly, and high-tech industries.” “We will continue to improve all management activities to meet ESG values and practice management at a higher level.”
Meanwhile, starting this year, Samyang Group will publish sustainability management reports for Samyang Holdings and Samyang Corporation every year. Next year, we plan to publish Samyang Packaging’s first sustainability report to more actively promote Samyang Group’s ESG management activities and performance.
Source: Pangyo Techno Valley Official Newsroom
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