Korea BASF Publishes 2020 Corporate Report

[Asia Economy Reporter Hwang Yoon-joo] BASF Korea announced on the 5th that it has published a corporate report introducing its overall sustainability management activities in 2020.

Despite the unprecedented COVID-19 pandemic situation last year, the BASF Group achieved remarkable business growth by securing a high value-added product portfolio and optimized offerings. In the fourth quarter of 2020, sales increased year-on-year in all regions including Korea, with balanced sales growth across all business sectors. In particular, Korea recorded sales of approximately 1.4 billion euros (about 1.88 trillion KRW).

BASF has actively strived to become a ‘customer-centric’ company by providing innovative products and advanced material solutions. Last year, through the acquisition of the polyamide business from Belgian chemical company Solvay, BASF was able to offer advanced engineering plastic solutions to customers in Korea and the Asia-Pacific region.

Additionally, BASF has been operating various social contribution programs to contribute to local communities, which form the foundation for continuous growth in Korea. In response to the ongoing COVID-19 situation last year, BASF developed science experiment kits and online education programs to support non-face-to-face science education for elementary school students, donating them to Ulsan, Yeosu, and Daejeon.

Meanwhile, BASF Korea reflected the BASF Group’s 2050 climate neutrality goal, announced last March, on its official website. The report includes achievements in various areas practicing the circular economy, such as BASF’s unique ChemCycling and recycled plastic sorting solutions.

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