"Prevent Serious Accidents"… Kumho Petrochemical Safety and Environment Organization Reorganized Under CEO Direct Management

Elevated to CEO-Direct 'Safety and Environment Planning Office'... Increased Independence in Safety and Environmental Management
Veteran with 25 Years in Safety and Environment, Executive Director Nam Jung-woo Appointed... Oversees ESG Internal Controls
CEO Baek Jong-hoon: "We Will Earn Stakeholders' Trust in Safety and Environment Sector"

Jonghoon Baek, President and CEO of Kumho Petrochemical. (Photo by Kumho Petrochemical)

[Asia Economy Reporter Moon Chaeseok] Kumho Petrochemical has established a safety and environmental dedicated organization directly under the CEO. This comes amid heightened social interest in the management of major industrial accidents in the petrochemical industry following the explosion accident at Yeocheon NCC in the Yeosu National Industrial Complex, Jeollanam-do, on the 11th of last month.

On the 23rd, Kumho Petrochemical announced that as part of its ESG (Environmental, Social, and Governance) management practice, it has established a safety and environmental dedicated organization directly under the CEO. The Safety and Environment Team of the Headquarters Technology Planning Division has been elevated to the 'Safety and Environment Planning Office' directly under the CEO.

Kumho Petrochemical expects that the independence of the safety and environmental dedicated organization's duties will increase following the organizational restructuring. The Safety and Environment Office will oversee safety and environmental tasks at 12 business sites, including the headquarters in Jung-gu, Seoul, Yeosu and Ulsan Rubber Plants, Ulsan Resin Plant, and Daejeon Research Institute, as well as perform the company's ESG internal control (compliance) functions.

Kumho Petrochemical appointed Executive Director Nam Jungwoo as the head of the Safety and Environment Office. Executive Director Nam is a 'veteran' who has been in charge of safety and environmental work at Kumho Petrochemical for 25 years. Based on his expertise, the company plans to secure uniformity in safety and environmental policies across business sites and promote them company-wide. Kumho Petrochemical CEO Baek Jonghoon said, "Through the establishment of the Safety and Environment Planning Office, the independence of the company's safety and environmental management tasks will be further enhanced," adding, "We expect to gain stakeholders' trust in the safety and environmental field as well."

In January, Kumho Petrochemical set a safety and health vision of being a 'healthy company pursuing shared happiness with safety as the highest value' and announced three goals: zero major accidents, building safety and health infrastructure, and establishing an autonomous safety and health management culture.

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