"ESG, Not a Choice but a Necessity"… Lotte Bio Declares ESG Management

Lotte Biologics is set to fully launch its ESG (Environmental, Social, and Governance) management activities.

At the Lotte Biologics ESG Management Declaration Ceremony, Joo-eon Kang, Head of Strategic Planning Division at Lotte Biologics, Hyung-duk Yoo, Head of Business Operations Division, Won-jik Lee, CEO, Kyung-eun Kim, Head of Global BD Division, Sung-wook Cho, Executive Director of Lotte Holdings ESG Team, and Jong-soo Ha, Head of Management Support Division, are posing for a commemorative photo.
[Photo by Lotte Biologics]

On the 30th, Lotte Biologics announced on the 31st that it held an ‘ESG Management Declaration Ceremony’ at the EBC Center on the 113th floor of Lotte World Tower. The ceremony was attended by executives and employees including Lee Won-jik, CEO of Lotte Biologics, and Cho Sung-wook, Executive Director of the ESG Team at Lotte Holdings, and proceeded in the order of ▲CEO’s greeting ▲sharing of ESG vision and mid-to-long-term roadmap ▲reading of the ESG management declaration and human rights and environmental management charters ▲commemorative photo session.

On this day, under the ESG vision of ‘Delivering Excellence for a Sustainable World,’ Lotte Biologics declared a ‘Human Rights Management’ charter aimed at positively transforming not only customers’ lives but society as a whole, and an ‘Environmental Management’ charter to apply environmental values to its management activities.

As part of its mid-to-long-term ESG roadmap, Lotte Biologics also revealed annual execution strategies, including securing environmental and occupational health and safety management system certifications for major business sites and establishing a decarbonization plan by 2027. Through this, the company plans to strengthen eco-friendly policies by considering greenhouse gas reduction plans from the factory establishment stage to address emissions that may occur when operating domestic mega plants in the future. In particular, the ESG management declaration ceremony holds great significance as it was prepared with one heart and mind, with all employees, including those at the Korean headquarters and the U.S. branch, deriving and sharing tasks to practice ESG management from their respective positions.

Recently, the global pharmaceutical and bio industries have been advancing ESG management. Especially companies focusing on Contract Development and Manufacturing Organization (CDMO) consider long-term cooperative relationships with clients crucial, leading to active efforts to meet global standards. Lotte Biologics has diagnosed the current status of its overseas business sites this year and established ESG strategies and improvement tasks. In particular, it plans to build and actively implement a global-level ESG management foundation through collaboration with its Syracuse, U.S. site.

Lotte Biologics is laying the foundation for ESG management activities not only by developing its own capabilities but also through co-growth with promising bio ventures and ensuring the sustainability of its supply chain. By 2030, it plans to develop a domestic mega plant complex in Songdo, Incheon, called the ‘LOTTE BIO CAMPUS,’ where ventures and startups engaged in new drug development can use facilities and create a collaborative space through the ‘Bio Venture Initiative.’ This initiative is promoted as a ‘win-win’ open innovation concept to coexist with promising bio ventures and contribute to discovering new therapeutics for the successful development and commercialization of pharmaceuticals. The plan is to evolve from simply providing rental services such as facilities and equipment to a co-growth business model that fosters sustainable collaboration within the supply chain through continuous cooperation.

Lee Won-jik, CEO of Lotte Biologics, stated, “Since our business is directly connected to human life, ESG management is not a choice but a necessity,” adding, “Based on our vision to contribute to the prosperous life of humanity, we will do our best to build a sustainable ecosystem as a global company.”

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