Ssangyong Cement, Full-Scale 'ESG Management' Starting New Year

Integration and Systematic Promotion of ESG Management Activities Previously Operated Separately by Each Sector

A panoramic view of Ssangyong Cement Donghae Plant, actively leading the expansion of recyclable resource recycling.
[Photo by Ssangyong Cement]

[Asia Economy Reporter Kim Jong-hwa] Ssangyong Cement will be the first in the domestic cement industry to fully implement ESG management starting from the new year.

On the 18th, Ssangyong Cement announced that it will actively promote ESG management to proactively respond to changes in corporate management paradigms, expand its business area into comprehensive environmental projects, and fulfill corporate social responsibility. In addition, it carried out an organizational restructuring, including the establishment of a dedicated organization called the 'ESG Management Committee.'

The ESG Management Committee, chaired by Executive Officer Lee Hyun-jun, expands and strengthens the role of the existing CSR Operating Committee, which has been in operation since 2012, and integrates and manages various ESG-related activities that had been dispersed and operated by each division until now.

In particular, a Social Contribution Committee was newly established under the ESG Management Committee to more systematically develop and support social contribution activities that practice corporate social responsibility. Accordingly, along with the existing Environment Committee and Ethical Management Committee, the social contribution sector will be systematized to promote practical ESG management.

Large-scale Facility Investment, Establishment of a Perfect Circular Resource Recycling System

Since declaring its environmental policy in 2008, Ssangyong Cement has continuously made efforts to minimize environmental impacts caused by corporate activities. Recently, to meet the public demand for reducing fine dust and resolving the plastic waste crisis, it has established a safe and perfect circular resource recycling system through large-scale facility investments.

Along with continuous efforts to reduce greenhouse gases, the company plans to actively contribute to achieving the national environmental policy goal of 'carbon neutrality by 2050.'

A Ssangyong Cement official explained, "We are contributing to solving national environmental issues and actively leading the practice of social responsibility as an eco-friendly company. In addition, we are actively pursuing securing new growth engines by expanding our business area into comprehensive environmental projects such as environment-related businesses."

Social contribution activities have also been steadily carried out, including operating a scholarship foundation supporting outstanding students in the region and providing medical volunteer services to residents in areas where production plants are located. Furthermore, the company plans to continuously expand activities such as operating a win-win cooperation council with local residents, improving living environments to enhance quality of life in the region, and signing win-win cooperation agreements to support the construction of cultural and sports facilities.

Ethical management is also actively practiced by establishing a code of ethics. To enhance transparency in governance, the company has strengthened the supervisory function of the board of directors, introduced an executive officer system to reinforce responsible management by the executive branch, and operates an audit committee composed entirely of outside directors, striving for transparent management and shareholder value enhancement.

Hong Sa-seung, Chairman of Ssangyong Cement, stated, "We will actively practice ESG management, including not only economic performance but also continuous expansion of investment in the environment and extensive social contribution activities. We will take the lead in environmental protection and expand our business area into comprehensive environmental projects. We aim to establish Ssangyong’s image, represented by cement, as a company that develops together with society."

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