Hyundai Glovis Selected as '2022 Best Governance Company' in KCGS Evaluation

'A Grade' in Corporate Governance for Four Consecutive Years Through This Year

[Asia Economy Reporter Yoo Hyun-seok] Hyundai Glovis has been selected as the ‘Best Governance Company’ in the 2022 evaluation by the Korea ESG Standards Institute (KCGS).

On the 2nd, Hyundai Glovis announced that it received the Best Award in the governance category at the ‘2022 KCGS Excellent Companies Awards Ceremony’ hosted by the Korea ESG Standards Institute, held at the Korea Exchange in Yeouido, Seoul.

The Korea ESG Standards Institute is a leading ESG evaluation organization in Korea that has announced ESG evaluation grades every year since 2003 based on non-financial evaluation results in three areas: Environment (E), Social (S), and Governance (G) of listed companies in Korea. This year, the evaluation was conducted on 772 listed companies.

Hyundai Glovis was selected as the ‘Best Governance Company’ by KCGS for the first time. KCGS highly evaluated Hyundai Glovis for establishing an active board-centered management culture and pursuing diversity in governance by appointing female and foreign directors.

Additionally, efforts to strengthen the independence and expertise of the audit committee, such as appointing two or more accounting and financial experts, also received excellent evaluations.

As a result, Hyundai Glovis has earned an A grade in the governance category in the KCGS evaluation for four consecutive years from 2019 to this year. To strengthen ESG management, Hyundai Glovis has established a dedicated ESG organization, set mid- to long-term key strategic tasks such as carbon emission management, shareholder return policy enhancement, and ethical management, fulfilling its corporate responsibilities.

Furthermore, Hyundai Glovis has strengthened management supervision by establishing an audit committee, an outside director candidate recommendation committee, and a transparent management committee within the board, focusing on shareholder rights and communication with market stakeholders.

Hyundai Glovis also joined the UN Global Compact (UNGC), initiated by the United Nations (UN) to promote sustainable balanced development, demonstrating its commitment to ESG management both internally and externally. Last year, it became the first domestic logistics company to be included in the Dow Jones Sustainability Index (DJSI).

A Hyundai Glovis official said, “The management’s will and the board’s activities to establish a transparent and sound governance system and build a sustainable board-centered management culture have led to this selection as the Best Governance Company. We plan to continue making sustained and active efforts in ESG management, including governance, environment, and social aspects.”

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