Sampyo Cement "Establishing Industry-Leading ESG Management System"

Sampyo Cement Adds Environmental Business Objectives at the 30th Annual General Meeting of Shareholders

Moon Jong-gu, CEO of Sampyo Cement (center), is giving a greeting speech at the 30th regular shareholders' meeting held on the 2nd floor auditorium of the headquarters in Samcheok-si, Gangwon-do on the 22nd.
Photo by Sampyo Cement

[Asia Economy Reporter Kim Jong-hwa] Sampyo Cement has decided to fully promote its eco-friendly business, strengthen its ESG (Environmental, Social, and Governance) management system, transform into an eco-friendly company, and secure sustainable growth drivers.

On the 22nd, Sampyo Cement held the 30th regular shareholders' meeting at the main auditorium on the 2nd floor of its headquarters in Samcheok-si, Gangwon-do, and announced that it had approved the agenda items, including partial amendments to the articles of incorporation to strengthen ESG management and the appointment of inside and outside directors, as originally proposed.

CEO Moon Jong-gu stated, "Sampyo Cement has never neglected its corporate social responsibility and efforts for environmental friendliness," adding, "Through this shareholders' meeting, we will establish a more concrete and industry-leading ESG management system." He continued, "Above all, we will expand investments in energy and environmental businesses through resource circulation to become an eco-friendly company," and added, "We hope that our eco-friendly efforts will spread throughout the industry and further contribute to the government's efforts on climate and environmental issues."

He also expressed his intention to continue efforts to improve profitability. CEO Moon said, "Despite difficult management conditions such as last year's economic recession and construction market downturn, we improved profitability through cost reduction," adding, "As a result, we will execute a total shareholder dividend of 8 billion KRW, an increase of 3 billion KRW compared to the previous year. We will continue to strive to enhance shareholder value."

At the shareholders' meeting, environmental-related content was added to the business objectives through partial amendments to the articles of incorporation. Accordingly, Sampyo Cement plans to invest 26 billion KRW this year in environmental improvement facilities, more than double the previous year. It will also invest 70 billion KRW over the next five years in resource recycling processing and waste heat power generation facilities. These facilities are expected to significantly contribute to reducing fuel and electricity costs as well as greenhouse gas emissions.

A Sampyo Cement official emphasized, "In line with the government's carbon neutrality declaration and Green New Deal policy, we will leap forward as an eco-friendly company," adding, "We will continue efforts to strengthen the ESG management system, including actively developing eco-friendly high value-added businesses."

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