Korea BASF Publishes 2019 Corporate Report

[Asia Economy Reporter Hwang Yoon-joo] Global chemical company BASF published a corporate report introducing the overall activities carried out in 2019 for sustainable management, divided into management strategy, environment, health and safety, and social contribution sections.

BASF Korea published the first sustainability management report in Korea in 2002, and this year marks the 15th publication. BASF Korea recorded approximately 1.3 billion euros in domestic sales last year, and as of the end of last year, the total number of employees working in Korea was 1,142.

Kim Young-ryul, CEO of BASF Korea, stated, “In 2019, a year that required many changes and challenges, BASF has continuously strived to achieve solid results despite difficult market conditions,” and added, “Through portfolio restructuring focused on customers and innovation in products and solutions, we will seek practical ways for sustainable growth and the future in Korea.”

By mid-last year, BASF completed the integration of the agriculture business acquired from Bayer, enabling it to provide diverse and substantial solutions ranging from seeds, traits, and crop protection to digital technologies for farmers. Additionally, by completing the acquisition of Solvay’s global polyamide business, BASF strengthened the portfolio of its products and engineering plastics business.

BASF achieved excellent results in safety, environment, and health. In 2019, by actively participating in internal campaigns and government-led energy-saving programs, it reduced greenhouse gas emissions. Through proactive safety improvement efforts at each plant, the TDI plant at the Yeosu plant received the highest safety rating, the green grade, in the 'Responsible Care' audit hosted by the German Chemical Industry Association.

Also, the Ulsan Hwaseong plant was certified by the Korea Occupational Safety and Health Agency (KOSHA) in 2019 for achieving the '20 times no-accident goal.'

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