Samyang Foods Holds Joint Labor-Management Declaration on ESG Management

Samyang Foods held a joint labor-management declaration ceremony for practicing ESG management on the 8th at the Wonju factory, attended by ESG Committee Chairman Kim Jeong-su (third from the left in the front row) and Labor Union Chairman Yang Seung-wan (fourth from the left in the front row), among others.

[Asia Economy Reporter Seungjin Lee] Samyang Foods' labor and management have agreed to cooperate to strengthen their sense of responsibility and competitiveness regarding ESG (Environmental, Social, and Governance).

On the 8th, Samyang Foods announced that it held a joint labor-management declaration ceremony for the practice of ESG management at the Wonju factory, attended by ESG Committee Chairman Kim Jeong-su and Labor Union Chairman Yang Seung-wan.

This joint declaration was promoted based on a consensus between labor and management on the necessity of ESG management. Through the joint declaration, labor and management selected the following core tasks and resolved to implement them together: ▲ reducing greenhouse gas emissions and promoting a transition to a low-carbon economy ▲ continuing and expanding social contribution activities ▲ establishing a sound labor-management culture ▲ achieving a transparent corporate culture through ethics and compliance management.

Samyang Foods plans to accelerate ESG management further based on the recently established ESG Committee and this joint labor-management declaration. In particular, it will start preparations for carbon neutrality along with the introduction of eco-friendly packaging within the year and will expand donation activities and scholarship programs. Additionally, through this year's shareholders' meeting, it plans to strengthen monitoring and control functions centered on the board of directors with enhanced roles and internal compliance organizations to establish a transparent and ethical management system.

Kim Jeong-su, ESG Committee Chairman, said, “This joint labor-management declaration has laid the foundation to establish and faithfully implement long-term strategies in terms of environment, society, and governance,” and added, “Labor and management will work together to actively practice ESG management to create economic and social value.”