OCI Holdings Publishes First Integrated Report Since Transition to Holding Company

OCI Holdings is launching corporate value enhancement with its first integrated report since transitioning to a holding company structure.

OCI Holdings announced on the 4th that it has published the '2023 Integrated Report,' which includes the business status of its major subsidiaries, company-wide sustainability management strategies, and key ESG activity achievements.

This integrated report is the first to be published since the transition to a holding company structure in May last year, and it is the 16th report since the founding of the company's predecessor, Dongyang Chemical Industry, in 1959.

The report, consisting of 86 pages, is publicly available on the official website and sequentially introduces the businesses of major subsidiaries (renewable energy & energy solutions, advanced materials, pharmaceuticals & bio, urban development), sustainability management directions (including double materiality assessment, stakeholder engagement, ESG strategy establishment), and ESG (environmental, social, governance) activity achievements.

OCI Holdings prepared the report content according to the international sustainability reporting standards, GRI (Global Reporting Initiative) Standards 2021, to ensure objectivity and reliability, and also received third-party verification from an independent external organization, the Korea Management Registrar (KMR).

OCI Holdings plans to do its best to ultimately enhance corporate value by actively informing stakeholders not only of sustainability disclosures based on consolidated financial statements centered on the holding company but also of achievements in the non-financial area of ESG activities.

OCI Holdings stated, "The direction of corporate sustainability management and ESG capabilities are fundamental elements for value enhancement by building trust with both domestic and foreign investors in the capital market," adding, "We will continue to strengthen transparency in corporate management and fulfill our social responsibilities."

Meanwhile, OCI Holdings also plans to increase shareholder returns through treasury stock acquisition and cancellation, as well as dividend expansion. In March, the board of directors announced a shareholder return policy to purchase and cancel 5% of the total issued shares, amounting to 100 billion KRW, by 2026. Recently, a trust contract was signed for about 40 billion KRW, equivalent to 2% of that amount, and it is expected that the acquisition and cancellation of these shares will help resolve market undervaluation.

Additionally, last year's DPS (dividend per share) was set at 3,300 KRW, corresponding to a dividend yield of about 3%, and was paid in early April. This represents a 32% increase compared to the previous year (2,500 KRW).

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