HK Innoen Achieves Comprehensive A Grade in ESG Evaluation... "Top Tier in the Industry"

HK Innoen announced on the 30th that it received a comprehensive A grade in the '2023 Domestic Company ESG Evaluation Grades' released by the Korea Corporate Governance Service (KCGS) on the 27th.

Exterior view of HK Inno.N Seoul Office. [Photo by HK Inno.N]

This result marks the first time HK Innoen has received an Environmental, Social, and Governance (ESG) evaluation grade from KCGS, achieving an A+ in the social sector and A grades in both the environmental and governance sectors. HK Innoen explained that this recognizes its ESG management performance at the highest level in the industry.

KCGS is one of the major ESG evaluation institutions in Korea, annually assessing the sustainability management levels of listed domestic companies in the areas of environment, society, and governance, and announcing grades accordingly. This year, 987 domestic listed companies were evaluated, with a total of 185 companies receiving grades of A or higher. Among pharmaceutical and bio companies, excluding holding companies, a total of eight companies including HK Innoen received grades of A or higher.

In the social sector, the company stated that supply chain management and win-win management activities with local communities appeared to have positively influenced the evaluation results. HK Innoen has carried out various activities aimed at mutual growth, including promoting communication with local communities and partner companies. In July, it held a 'Risk Assessment Competition' to establish a self-regulatory prevention system.

In the environmental sector, HK Innoen joined the 'Korean RE100 (K-RE100)' in June this year, which involves procuring 100% of the electricity used by industry companies from renewable energy sources. The company also strengthened its eco-friendly management system by establishing biodiversity policies and operating a company-wide environmental management council. A carbon neutrality roadmap, designed to calculate carbon emissions in stages, is scheduled to be disclosed by the end of this year.

In the governance sector, HK Innoen established the 'Sustainable Management Committee,' an ESG committee under the board of directors, in May this year to strengthen ESG risk management activities and establish a decision-making system. Alongside this, the company continues to promote an ethical culture among executives and employees by enhancing internal control systems and holding events such as 'Compliance Day.' Following last year, it also published a sustainability management report this year and plans to incorporate ESG performance into the key performance indicators (KPIs) of management starting next year to strengthen ESG momentum.

Kwok Dal-won, CEO of HK Innoen, said, "Since we began actively pursuing ESG management in 2021, we have achieved remarkable results and grown to the highest level in the industry. We will continue to do our best to contribute to a sustainable future across all areas of environment, society, and governance."

Previously, HK Innoen received the highest AA grade in both the scale category (asset size over 500 billion KRW) and overall category in the 2023 first half ESG evaluation results announced by the ESG evaluation agency 'Sustinvest.'

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