Kolon FnC Accelerates ESG Management... "KOA Acquisition and Organizational Restructuring"

Kolon FnC CI. / Photo by Kolon FnC

[Asia Economy Reporter Song Seung-yoon] Kolon Industries FnC Division will strengthen ESG (Environmental, Social, and Governance) management starting from the second half of this year.

According to Kolon FnC on the 13th, Kolon FnC acquired the social venture company KOA last month. KOA is a first-generation social venture company known for its unique initiatives in the fashion industry, including the eco-friendly brand Le Cashmere and resource circulation. Kolon FnC plans to accelerate ESG management by adopting KOA’s business concepts.

They also carried out an organizational restructuring to add momentum to their work. First, the existing CSO (Chief Sustainable Officer) division was promoted to the Sustainability division, and Kolon Sports was moved under the Sustainability division. Through the organizational restructuring in the first half of this year, Kolon FnC established the CSO to implement ethical awareness and social responsibility management in the fashion business. Led by Executive Director Han Kyung-ae, Kolon FnC plans to make its representative brand Kolon Sports a leading sustainability brand alongside existing brands like Raccord and Epigram. They are also planning new businesses incorporating the concept of resource circulation. Under the Sustainability division, a new ‘ESG Impact Office’ was established. Newly appointed KOA CEO Yoo Dong-joo will serve as the head of the ESG Impact Office.

Kolon FnC plans to redefine ESG management for the fashion industry through zero-waste and establish strategies that can be implemented step-by-step. They are also exploring new solutions to chronic problems in the fashion industry, such as recycling solutions based on single-material product composition shown by KOA, and ways to utilize inventory or discarded clothing products. The ESG Impact Office will create and promote concrete action plans containing these details.

Han Kyung-ae, Executive Director and CSO of Kolon FnC, said, “This change at Kolon FnC expresses the company’s strong will to create unique value and become a truly sustainable fashion company. We will do our best to become an ESG fashion company that leads the industry beyond boundaries.”

Meanwhile, Kolon FnC has been recognized as a model ESG fashion company over the past decade by operating the upcycling brand Raccord. Kolon Sports has fulfilled the social responsibility of outdoor brands through space and technology development, including Sosot Reverse and eco-friendly raw material development. The lifestyle brand Epigram also conducts local projects every season to promote coexistence with local communities.

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