Coway Establishes 'ESG Committee'

Establishing Environmental, Social, and Governance Strategies and Directions... Kim Jin-bae Appointed as Outside Director and Chairman
Focusing on Key Tasks Such as Climate Change Response and Human Rights Management

[Asia Economy Reporter Kim Cheol-hyun] Coway (CEO Lee Hae-sun and Seo Jang-won) announced on the 9th that it has established an ESG (Environmental, Social, and Governance) Committee under its board of directors.

The Coway ESG Committee was established to oversee and manage policies and key matters related to environment, society, and governance at the board level, aiming to enhance corporate value in the long term and to promote ESG management more strategically.

The Coway ESG Committee consists of three members: outside directors Kim Jin-bae and Lee Da-woo, and CEO Seo Jang-won. To strengthen the independence of the committee, outside director Kim Jin-bae was appointed as the chairperson.

The ESG Committee serves as a deliberative and decision-making body on ESG policies and key issues, acting as the control tower for ESG management. Specifically, it is responsible for ▲establishing ESG policies and directions ▲setting mid- to long-term ESG goals and KPIs ▲enacting and revising ESG-related regulations ▲making decisions on major ESG risks and opportunities.

Additionally, Coway has formed an ESG council comprising related departments such as environment, human resources, ethics, research and development (R&D), and legal affairs, which will support the ESG Committee.

Coway has been engaged in sustainable management activities even before the establishment of the ESG Committee. It declared environmental management in 2006 and announced mid- to long-term goals to achieve 100% renewable energy transition and carbon neutrality by 2050, as well as a plan to reduce greenhouse gas emissions by approximately 50% by 2030, proactively responding to climate change.

Recently, Coway enhanced communication with stakeholders by transparently disclosing sustainability management performance through the online publication of the 2020 Coway Sustainability Management Report in both Korean and English. Coway has been publishing sustainability management reports since 2006.

A Coway official stated, "Through the establishment of the ESG Committee, we will systematically integrate ESG into overall management and strategically promote ESG activities that meet global standards. We will respond to the expectations of diverse stakeholders across all ESG areas and strive to become a sustainable best life solution company."

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