Hyundai Department Store Duty Free, Strengthens ESG Management Initiatives

ESG Vision Digital Launch Ceremony Held
New ESG Dedicated Council Established Directly Under CEO

At Hyundai Department Store Duty Free Trade Center Branch, Lee Jae-sil, CEO of Hyundai Department Store Duty Free (third from the left on the second row), and employees are introducing the group's integrated ESG brands 'Regreen' and 'Withream' in line with the digital proclamation ceremony of the ESG vision.

[Asia Economy Reporter Yuri Kim] Hyundai Department Store Duty Free is strengthening its ESG (Environmental, Social, and Governance) management by launching an ESG vision declaration ceremony and establishing a dedicated consultative body.

Hyundai Department Store Duty Free announced on the 4th that it held a digital ESG vision declaration ceremony. The digital ESG vision declaration ceremony took place on the metaverse platform 'Gather Town' with the participation of all employees. The event unveiled its own vision, "Travel Connecting the World, Companionship for Tomorrow," while introducing employees to the company's current ESG management status and achievements, as well as revealing a mid- to long-term ESG promotion roadmap.

This event was promoted to publicly announce the sincere start of ESG activities in line with Hyundai Department Store Group's company-wide efforts to strengthen ESG management. Earlier on the 15th, Hyundai Department Store Group launched the group’s integrated ESG brands 'Re;Green' (environment) and 'We;Dream' (social) to advance systematic and sincere ESG management.

At the declaration ceremony, Hyundai Department Store Duty Free also disclosed ESG management achievements accomplished together by its executives and employees. Notable examples include being the first in the industry to switch duty-free product vinyl packaging to recyclable paper materials and introducing the eco-friendly duty-free product exclusive logistics box 'H Green Box,' which reduced annual vinyl usage by about 60%. The company also revealed plans to reduce vinyl usage by 90% by 2025.

Plans to establish a transparent management environment were also disclosed. Hyundai Department Store Duty Free plans to establish a culture of voluntary compliance with fair trade among executives and employees by enacting fair trade guidelines, providing employee education, and introducing a self-monitoring system.

Hyundai Department Store Duty Free intends to expand support projects for low-income groups such as people with disabilities, single mothers, and the elderly, and to increase efforts for mutual growth and coexistence by supporting export channels for domestic small and medium-sized partner companies.

Starting today, the ESG consultative body 'ESG LAB,' composed of 13 executives and employees at the team and part leader level from related departments including the CEO, will be fully operational to enable swift decision-making and execution. Hyundai Department Store Duty Free plans to promote existing eco-friendly and social contribution activities in line with the group’s integrated ESG management strategy through this body.

Lee Jae-sil, CEO of Hyundai Department Store Duty Free, said, "Hyundai Department Store Duty Free has been carrying out activities that leverage the characteristics of duty-free shops, such as introducing eco-friendly packaging materials, to practice ESG management. In line with the group’s ESG management strategy, all employees will continuously strive to faithfully fulfill responsibilities not only for the environment but also for the economy and society."

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