SK Materials Creates Social Value of 139.2 Billion KRW

[Asia Economy Reporter Park So-yeon] SK Materials, a semiconductor and display materials specialist, announced on the 4th that it created a total social value (SV) of 139.2 billion KRW last year. This represents a 31.9% increase compared to the same period last year. Social value refers to the achievements that contribute to economic development and solve various social issues through corporate management activities.

Looking at the detailed sectors, the economic indirect contribution was 184.3 billion KRW, up 22.1% from the previous year, while business social performance was -46.7 billion KRW and social contribution social performance was 1.5 billion KRW, increasing by 0.2% and 11.3% respectively during the same period. Among these, the negative business social performance reflects the environmental impact such as greenhouse gas emissions from energy use for product manufacturing.

An SK Materials official explained, "The expansion of social value scale is analyzed to be largely due to active business expansion last year, including the construction of a new factory for semiconductor industrial gases and the expansion of precursor products, which indirectly contributed to the economy by increasing employment by 12% compared to the previous year." He added, "Building a new office building to improve the working environment of partner company members and conducting safety education consulting for partners also practiced win-win cooperation with small and medium enterprises, further increasing the scale of social value."

Lee Yong-wook, President of SK Materials, said, "Even amid increasing external uncertainties and intensified competition among companies, we will lead sustainable management through systematic management of social value." He added, "We will strive to become a company that contributes to national economic development by expanding social value through semiconductor material independence, development of eco-friendly new materials, and fostering a healthy industrial ecosystem through cooperation with small and medium enterprises."