Doseokgu LS Nikko Dongjeon President "Will Lead the Industry through ESG Management"

Do Seok-gu, President of LS Nikko Copper, is discussing ESG management with employees via YouTube Live.
[Photo by LS Nikko Copper]

[Asia Economy Reporter Kim Heung-soon] LS Nikko Copper Refinery is embarking on ESG (Environmental, Social, and Governance) management.

On the 16th, according to LS Nikko Copper Refinery, President Do Seok-gu recently declared during a YouTube live 'Digital Communication Sharing Meeting' with employees that the company will leap forward as a 'sustainable eco-friendly smart refining company' through ESG management.

President Do said, "ESG is an effort to create greater value together, and our employees have worked together to find the answers," adding, "We will succeed in leading ESG management in the global refining industry."

LS Nikko Copper Refinery is a global copper refining company producing essential materials for advanced industries such as electrolytic copper (high-purity copper refined through electrolysis), gold, silver, palladium, platinum, and high-purity sulfuric acid. The LS Nikko Copper Refinery Onsan Refinery, located in Ulsan, has the world's second-largest electrolytic copper production capacity (680,000 tons annually, based on a single refinery).

Building on this foundation, LS Nikko Copper Refinery has established practical plans to implement environmental protection, social responsibility, and transparent management.

First, it decided to practice 'responsible sourcing.' Responsible sourcing refers to activities that comply with environmental, human rights, and ethical standards throughout the procurement of raw materials as well as the production and sales processes.

To this end, in April of this year, it applied for the 'Copper Mark' certification, the world's first ESG certification system in the copper industry in Asia, and is currently undergoing evaluation. Regarding gold, it continues to maintain its status as a registered member of the London Bullion Market Association (LBMA) by complying with conflict mineral regulations.

Additionally, the company plans to make large-scale investments in environmental and safety fields and identify and implement tasks such as transitioning to a low-carbon production system. It will establish global top-level mid- to long-term environmental goals and quantify individual targets and activities for measurement. It will continue investing approximately 120 billion KRW in environmental and safety sectors and build a circular economy system by increasing the processing of recycled raw materials.

In the social sector, LS Nikko Copper Refinery aims to create a good working environment for executives and employees while promoting healthy community relations with residents near the Onsan Refinery. Furthermore, to establish an ESG governance system, it has created a dedicated ESG organization and plans to communicate with stakeholders such as customers, investors, and shareholders based on reliable information. The CEO and employees discuss and communicate on various topics, including ESG strategies. Moreover, through ESG internalization that pursues sustainable corporate value creation, the company plans to secure future business competitiveness.

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