IBK Industrial Bank joins UN 'Women’s Empowerment Principles'

Yoon Jong-won, President of Industrial Bank of Korea

[Asia Economy Reporter Song Hwajeong] IBK Industrial Bank announced on the 17th that it has joined the United Nations' Women’s Empowerment Principles (WEPs).

The Women’s Empowerment Principles (WEPs) is an initiative jointly launched in 2010 by the United Nations Global Compact (UNGC) and UN Women to promote women's rights and enhance women's competitiveness in the workplace and communities.

Through participation in this global initiative, Industrial Bank plans to adhere to the seven principles of women’s empowerment and refer to overseas best practices to solidify its status as an excellent company for gender equality.

Yoon Jong-won, President of Industrial Bank, emphasized that "continuous effort is necessary to empower women" and expressed his commitment to strengthening women’s empowerment and spreading a culture of gender equality. Since his inauguration, President Yoon has corrected unreasonable practices such as the glass ceiling under the principles of fairness and inclusion in personnel management. As a result, the proportion of female managers at Industrial Bank has improved to 32%, higher than the average of domestic listed companies (15%) and the banking sector (20%), reaching the level of the OECD average (33.2%).

President Yoon stated, "Gender diversity is not about favoring one side or giving special treatment, but a matter of fairness," and added, "I hope gender diversity becomes a driving force for sustainable development together beyond the value of equality."

Industrial Bank’s participation in this global initiative was carried out as part of its ESG (Environmental, Social, and Governance) management. As a result of actively promoting ESG management since last year, the bank’s ESG evaluation grade by the Korea Corporate Governance Service (KCGS) was upgraded from B+ to A, and this year, it plans to actively respond to evaluations by overseas ESG rating agencies.

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