Hyosung's Three Companies Receive 'A+' in 2020 ESG Evaluation, Noted for Significant Improvement in Governance

[Asia Economy Reporter Hwang Yoon-joo] In the '2020 Listed Companies ESG (Environment, Social, Governance) Evaluation' announced by KCGS (Korea Corporate Governance Service), Hyosung TNC Co., Ltd., Hyosung Advanced Materials Co., Ltd., and Hyosung Chemical Co., Ltd. received A+ ratings.

Among the 760 companies surveyed, 16 companies received A+ ratings, including three affiliates of Hyosung. Since no company received an S grade in this evaluation, the A+ rating of these companies is effectively the highest grade.

Hyosung Corporation and Hyosung Heavy Industries Co., Ltd. also earned A ratings, being recognized for having established a sustainable management system. This was the first evaluation after the transition to a holding company system in 2018, and all received A grade or higher.

The efforts to improve Hyosung's governance, such as the transition to a holding company system, were highlighted. The company was recognized for enterprise-wide environmental management, strengthening compliance management systems, governance improvements including the operation of the board of directors and audit committee, and communication efforts through sustainable management reports.

Hyosung Group affiliates established the Green Management Vision 2030 strategy in the environmental sector and newly established the highest decision-making body, the EHS (Environment, Health, Safety) Committee, which was systematically operated. In the social sector, the expansion of company-wide education on compliance with the Fair Trade Act, anti-corruption, security, and human rights management received positive evaluations.

In the governance sector, the establishment and operation of a committee under the board of directors for transparent management, and communication efforts such as disclosing corporate governance-related information, the status of exercising voting rights at regular shareholders' meetings, dividends, and board information through business reports and the website, received high praise.

Chairman Cho Hyun-joon stated at the launch of Hyosung's holding company in 2018, "We will focus on transparent management activities based on expertise and enhance corporate and shareholder value." Accordingly, after the transition to a holding company, through VOC management, the company has listened to the voices of the market and shareholders, emphasizing transparent and accurate communication to build mutual trust and eco-friendly management. Hyosung plans to continuously strive to improve ESG.

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