Samsung Advances 2.6 Trillion KRW Early Spending to Overcome COVID-19

'Sustainable Management Report 2020' Released
Unprecedented Introduction of COVID-19 Response Activities

Samsung Electronics released the "Sustainability Management Report 2020" on the 12th, detailing its response activities to the novel coronavirus disease (COVID-19) in the first half of this year and its business performance. The photo shows the cover of the "Sustainability Management Report 2020."

[Asia Economy Reporter Dongwoo Lee] On the 12th, Samsung Electronics released the "Sustainability Management Report 2020," which includes its response activities to the novel coronavirus disease (COVID-19) and business performance in the first half of this year. While Samsung's sustainability management reports are usually composed mainly of the previous year's achievements, this time, in an unusual move, the report introduced the management activities related to COVID-19 in the first half of this year at the beginning, reflecting the crisis situation.

According to the report, Samsung Electronics held a large-scale forum in April to prevent the rapid spread of COVID-19, utilizing its internal collective intelligence platform called "Mosaic." Over the two-week forum, approximately 107,000 employees worldwide participated, marking the largest scale since the launch of "Mosaic" six years ago. The crisis-overcoming ideas proposed by employees reached about 1,620 cases. Samsung Electronics plans to implement these selected ideas from the forum into future products and services to share with society.

Additionally, Samsung Electronics, together with its affiliates, reportedly advanced the early execution of 2.6 trillion KRW in funds to maintain a safe supply chain. It also donated 39 million USD (approximately 47.2 billion KRW) as of the end of last month to governments, medical, and educational institutions severely affected by COVID-19.

The report also includes Samsung Electronics' comprehensive support in response to the surge in domestic COVID-19 cases. In March, the company provided the Yeongdeok Training Center in the Daegu-Gyeongbuk region, which was experiencing shortages of medical staff and facilities, to be used as a living treatment center for asymptomatic and mild patients.

Samsung Electronics also took the lead in expanding domestic production of quarantine masks, significantly contributing to preventing the spread of damage. During the domestic mask shortage, Samsung dispatched in-house experts to related manufacturing companies to transfer manufacturing processes and technical know-how, enabling maximum production expansion in a short period. In particular, Samsung utilized its global network to support the supply of key raw materials for masks and directly produced and provided molds.

The report disclosed sustainability management achievements by business division. The Consumer Electronics (CE) division showcased TV packaging boxes with upcycled designs using bio-materials, and the IT & Mobile (IM) division presented cases applying high-efficiency, low-load chargers to products. The Device Solutions (DS) division introduced the remarkable achievement of being the first in the semiconductor industry to have the eco-friendliness of 5th generation V-NAND recognized.

Samsung Electronics selected core sustainable topics in the areas of environment, society, and governance and disclosed related achievements. The company announced that it achieved 92% renewable energy usage in the United States, China, and Europe. Due to these efforts, Samsung received the "2019 Green Power Leadership Award" from the U.S. Environmental Protection Agency.

In collaboration with the Danish premium textile brand "Kvadrat," Samsung released a Galaxy S20+ case recycled from waste plastic and expanded the application of modular designs such as the Bespoke refrigerator and modular Wind-Free Cube air conditioner.

Samsung Electronics also conducted labor rights education in partnership with the International Organization for Migration (IOM). In the social sector, it disclosed the three major principles of personal information protection and strengthened compliance monitoring by appointing an outside director as the chairman of the board for the first time to improve governance.

This year, Samsung Electronics introduced its overall sustainability management activities in six specific areas: eco-friendly workplaces, product responsibility, social contribution, good technology, investment for employees, and sustainable supply chains.

This content was produced with the assistance of AI translation services.