Hanwha Co., Ltd. Strengthens ESG Management and Advances Corporate Governance

[Asia Economy Reporter Yoonju Hwang] Hanwha Corporation, as the eldest sibling of the group, will take the lead in revitalizing ESG (Environmental, Social, and Governance) management activities and advancing governance innovation. As the parent company of the group, Hanwha Corporation plans to set a model for ESG management and naturally spread it across all group affiliates.

On the 29th, Hanwha Corporation held a board meeting and recognized ESG value creation and strengthening compliance as the top priorities in corporate management, establishing an ESG Committee to promote effective responses. Additionally, at the earlier regular shareholders' meeting, a new female outside director was appointed to secure diversity and expertise among outside directors.

Notably, the ESG Committee was established within the board of directors, the highest decision-making body under the law, rather than as an internal company organization. To ensure independence and expertise, the majority of the committee members are outside directors.

The ESG Committee will review the overall status and performance of ESG-related matters within the company, whose importance is growing. Furthermore, an ESG consultative body involving key team leaders has been newly established as a working organization to support the practical operation of the committee. The committee will also be responsible for compliance tasks, including in-depth review of compliance control activity plans, performance, and compliance issues.

With the establishment of the ESG Committee, Hanwha Corporation plans to expand sustainable management activities from an ESG perspective together with its affiliates. It also aims to faithfully manage and supervise non-financial risks and establish a foundation to actively and systematically respond to new ESG investment trends.

Chairman of the Board Kyungseok Ok stated, "With the establishment of the ESG Committee, we aim to strengthen ESG and compliance activities," adding, "The committee will quickly decide on key policies it deliberates to further reinforce responsible management."

At the same shareholders' meeting, the appointment of Professor Sangmi Park from the Department of International Studies at Hankuk University of Foreign Studies as an outside director was approved. Hanwha Corporation expects to fully utilize Professor Park’s experience in expanding its global business. Professor Park has served as the dean of the Graduate School of International and Area Studies at Hankuk University of Foreign Studies and as chair of the UNESCO Intangible Cultural Heritage Evaluation Body.

Going forward, Hanwha Corporation will continue to guarantee the independence and autonomy of board operations and enhance management transparency by forming subcommittees centered on outside directors.

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