Taekwang Group Announces 5-Year ESG Management Plan... "Foundation to Transform the Entire Group"

Taekwang Group held the "5-Year ESG Management Plan and Joint Declaration Ceremony on Management Practice" on the 29th, unveiling the group's 5-year ESG management plan and key initiatives for each business. Attendees, including Seong Hoe-yong, Chairman of the Future Committee (third from the right in the first row in the photo), are taking a commemorative photo. Photo by Taekwang Group

Taekwang Group held the 'ESG (Environment, Social, Governance) Management 5-Year Plan and Joint Declaration Ceremony for Management Practice' on the 29th at its headquarters in Heungkuk Life Insurance Building, Jongno-gu, Seoul, unveiling the group-level ESG management 5-year plan and key initiatives for each business. This declaration ceremony was the first official event about a month after the launch of the Future Committee in October, with participation from Sung Hoe-yong, chairman of the Future Committee, CEOs of each affiliate, and over 90 ESG officers from the affiliates.

The core strategic directions of the 5-year plan revealed that day are ▲Environmental Management ▲Socially Responsible Management ▲Board-Centered Management, which will be concretized through four stages. The first stage focuses on building the ESG management infrastructure, and the second stage concentrates on internalizing ESG management capabilities. The ultimate goal is to achieve ESG management outcomes by 2027 through strengthened stakeholder communication.

Based on the ESG management plan announced that day, Taekwang Group plans to compile the main goals and plans of each affiliate and finalize the ESG management 5-year plan in January next year.

Chairman Sung Hoe-yong stated, "This declaration will serve as a foundation that can change not only the employees but the entire group," adding, "I hope it becomes an opportunity for all affiliates to grow and develop through substantive discussions rather than just a declarative meaning."

The core strategic directions disclosed by Taekwang Group are as follows. First, in terms of environmental management, they will strengthen eco-friendly low-carbon activities, digitize office work, and actively introduce eco-friendly products and services. For socially responsible management, they will expand social contribution activities, support employee development, prevent unfair trade and unfair competition, and advance information security and personal data protection activities. For board-centered management, they will establish specialized committees within the board, expand ethical management, and strengthen preemptive risk management through internal monitoring.

Key initiatives for each business sector based on the three main strategic directions were also presented.

In the manufacturing sector, they aim to achieve net zero (carbon neutrality) by 2050 through the advancement of eco-friendly production facilities, development of eco-friendly products, and thorough management of environmental pollution. In the financial sector, they will accelerate ESG and green finance investments, expand eco-friendly portfolio policies, strengthen socially responsible management, and build green offices. In other sectors such as media and infrastructure, the focus will be on preventing environmental pollution and improving energy efficiency.

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