CJ Freshway Selected as 'Excellent Governance Company' by Korea ESG Standards Institute

2023 KCGS ESG Report Achieves 'A Grade' for 6 Consecutive Years

CJ Freshway announced on the 27th that it was selected as an 'Excellent Governance Company (KOSDAQ sector)' at the '2023 Korea ESG Standards Institute Excellent Company Awards' hosted by the Korea Corporate Governance Service (KCGS). KCGS is a leading ESG evaluation agency in Korea that annually assesses companies' sustainability management levels and selects and awards companies excelling in governance and ESG.

On the 24th, at the Korea Exchange in Yeouido, Seoul, Choi Seok-jung, Head of Management Support at CJ Freshway (right), and Kim Young-sik, Chairman of the Korean Institute of Certified Public Accountants, are posing for a commemorative photo at the '2023 Korea ESG Standards Institute Excellent Companies Awards Ceremony.'
[Photo by CJ Freshway]

At this award ceremony, CJ Freshway was highly evaluated for establishing exemplary governance practices in the capital market through voluntary ESG activities. CJ Freshway has been leading the advancement of governance based on an ESG management system that enhances board diversity and expertise, strengthens materiality and non-financial risk management, and improves transparency in corporate management activities.

In March of last year, CJ Freshway appointed a female outside director with expertise in the food sector to enhance board diversity. It has conducted training for outside directors to improve the board's expertise and has effectively operated specialized committees under the board, such as the ESG Committee, Audit Committee, Compensation Committee, and Outside Director Candidate Recommendation Committee.

Additionally, CJ Freshway systematically manages six key ESG issues, including 'Creating a Healthy Food Culture' and 'Responsible Use of Raw Materials,' based on a 'double materiality' model that analyzes the bidirectional impact between external environmental and social factors on the company and the company's management activities on the external environment. It has also strengthened the company-wide integrated risk management system by establishing a dedicated risk management organization that serves as a control tower.

Furthermore, CJ Freshway transparently discloses corporate management activities through its official website and annual ESG reports to facilitate active communication with various stakeholders, including customers, partners, shareholders and investors, and employees.

A CJ Freshway representative stated, “Transparent and sound governance is the foundation for sustainable corporate management, so the significance of this 'Excellent Governance Company' award is even greater. We will continue to play a leading role across all ESG areas by advancing governance and strengthening board-centered responsible management.”

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