Samyang Corporation Joins UNGC, the World's Largest Corporate Sustainability Initiative
Internalizing Management of the 10 Principles in 4 Areas: Human Rights, Labor, Environment, and Anti-Corruption
Samyang Corporation, a food and chemical affiliate of Samyang Group, recently announced on the 4th that it has joined the United Nations Global Compact (UNGC) to strengthen ESG (Environmental, Social, and Governance) management.
The UNGC is the world's largest corporate sustainability initiative (voluntary pact). Launched by the United Nations in 2000, it aims to support companies in adhering to the 10 principles in the areas of human rights, labor, environment, and anti-corruption. Currently, about 20,000 companies from over 160 countries worldwide participate.
Samyang Corporation plans to internalize the 10 principles across the four key areas pursued by the UNGC into its management strategy and overall operations, and to dedicate efforts to fostering a corporate culture that achieves the Sustainable Development Goals (SDGs). The SDGs are a set of global sustainable development goals agreed upon by the UN General Assembly in 2015 to be achieved by 2030.
Kang Hoseong, CEO of Samyang Corporation, stated, "ESG has become an essential condition for the future and development of sustainable companies," adding, "We will accelerate ESG management further with this UNGC membership as a milestone."
Meanwhile, Samyang Corporation is actively practicing ESG management by expanding its eco-friendly business portfolio. In December last year, it obtained international certification for ‘TRIECO 4D,’ a plastic material recycled from discarded fishing nets, and established a Life Cycle Assessment (LCA) system to reduce carbon emissions.
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Additionally, in 2022, it developed Korea’s first eco-friendly polycarbonate (PC) containing more than 90% of post-consumer recycled polycarbonate (PCR PC) raw materials. Furthermore, it has taken the lead in developing eco-friendly transparent flame-retardant polycarbonate without flame retardants using its own technology and has established a full-scale mass production system for it.
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