Daewoong Pharmaceutical Strengthens ESG Management... Publishes First Sustainability Report

Daewoong Pharmaceutical announced on the 29th that it has published its first sustainability management report and plans to implement its ESG (Environmental, Social, and Governance) strategy called 'CARE for people and planet.'

Daewoong Pharmaceutical Headquarters. [Photo by Daewoong Pharmaceutical]

The report is composed of key achievements and future plans in ESG management across the areas of environment, society, and governance, aiming to transparently communicate Daewoong Pharmaceutical’s ESG management performance to all stakeholders.

Daewoong Pharmaceutical presented the ESG strategy 'CARE for people and planet,' which embodies the corporate mission to provide medicines and services that contribute to improving customers' quality of life in the most valuable way. CARE stands for ▲Healthcare for humanity (Care) ▲Advancing ethical management (Advance) ▲Respectful co-prosperity management (Respect) ▲Sustainable environmental management (Earth). It reflects the commitment to practice sustainable management to fulfill corporate social responsibility beyond financial performance.

Upon publishing its first report, Daewoong Pharmaceutical conducted a 'double materiality' assessment to identify sustainability issues and material topics. The double materiality assessment is an analytical approach that simultaneously evaluates the impact of external sustainability factors on the company’s financial status and the impact of the company’s management activities on the external environment and society.

In line with the corporate culture of being a 'great place to work' and a 'company that works well,' Daewoong Pharmaceutical operates a job-based pay system, global talent programs, in-house venture cultivation, and flexible working hours. It obtained family-friendly company certification from the Ministry of Gender Equality and Family in 2008 and was selected last year as the first family-friendly top company in the pharmaceutical industry. Additionally, Daewoong Pharmaceutical actively responds to realize ESG management through management systems based on international standards.

The Korea Standards Association, which conducted an independent verification of this report, evaluated that "Daewoong Pharmaceutical recognizes the importance of stakeholder participation in promoting sustainability management and strives to reflect and respond to various opinions, including demands and interests collected from stakeholders, in the report."

Daewoong Pharmaceutical’s 2023 Sustainability Management Report is available for viewing on the Daewoong Pharmaceutical website.

Daewoong Pharmaceutical 2023 Sustainability Management Report Cover. [Image provided by Daewoong Pharmaceutical]

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