Hyundai Wia Achieves Integrated A Grade in ESG Evaluation

Hyundai Wia employees are creating a school forest and taking commemorative photos at Namyang Elementary School in Changwon-si, Gyeongsangnam-do, which was selected as the 'Hyundai Wia Green School' in December last year. Photo by Hyundai Wia

[Asia Economy Reporter Kiho Sung] Hyundai Wia announced on the 4th that it received an integrated grade of A in the '2020 Listed Companies ESG Evaluation' published by the Korea Corporate Governance Service (KCGS).

Hyundai Wia received an A+ in the social responsibility category, an A in the environmental category, and an A in the governance category, showing significant improvement compared to last year. The integrated grade of A, which signifies "excellent," is the highest level in the domestic automobile industry.

KCGS is a public interest organization that creates key standards for the development of the capitalist market and conducts evaluation, analysis, and research to promote it. ESG evaluation assesses a company's environmental, social, and governance impacts and is recently used as an indicator to verify corporate value and management level.

Hyundai Wia was highly evaluated for its continuous efforts to improve the environment in this year's evaluation. Hyundai Wia significantly reduced pollutant emissions during the production processes of machine tools and automobile parts. Additionally, to establish a pollution-free workplace, it introduced a clean management system to minimize environmental pollution not only at the workplace but also in the local community. In particular, it applied stricter internal standards than legal limits in all environmental areas such as wastewater and dust air pollution to achieve environmental goals.

Moreover, Hyundai Wia designated an elementary school near its workplace as the ‘Hyundai Wia Green School,’ creating a forest that blocks fine dust along the school route and decorating the ‘classroom forest’ with fine dust purifying plants. It is also conducting the ‘One Company One Stream Campaign,’ cleaning the Gaeumjeongcheon Stream in Changwon City, Gyeongsangnam-do, where its headquarters is located, and removing invasive plants disrupting the ecosystem. Additionally, through the ‘Acorn Piggy Bank’ activity, it supports the healthy living of wildlife.

Along with this, Hyundai Wia received high marks for continuously carrying out social contribution activities in cooperation with NGOs and civic groups. Since 2013, through its representative social contribution activity ‘1% Miracle,’ employees voluntarily raise funds amounting to 800 million KRW annually to help neighbors facing social difficulties.

A Hyundai Wia official stated, “As a global company, we will continue to strive for sustainable development and fulfillment of social responsibility.”

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