"Green Wind in the Power Market" Hyundai Elec Announces ESG Management Declaration

Cho Seok, President of Hyundai Electric, is reading the declaration at the ESG Management Proclamation Ceremony on the 11th. Photo by Hyundai Heavy Industries Group

[Asia Economy Reporter Choi Dae-yeol] Hyundai Electric, a power equipment and energy solutions affiliate of Hyundai Heavy Industries Group, held an ESG (Environmental, Social, and Governance) management declaration ceremony on the 11th. The company pledged to create a green wave in the power market by supplying eco-friendly power equipment.

At the event held at the research and development center in Mabuk-ri, Yongin, Hyundai Electric President Cho Seok said, "We will strive to develop eco-friendly products that combine our technology and know-how, and ensure that the entire workplace becomes an ESG site." He added, "We will become a comprehensive energy solutions company that sets an example in ESG management by creating sustainable value in the eco-friendly energy sector."

The declaration announced that day included key strategies to achieve goals such as creating a green impact through eco-friendly management, promoting mutual growth through respect and participation, and practicing fair and transparent ESG management. It also included phased core tasks to be completed by 2025. To this end, the company plans to reorganize its structure and expand its lineup of eco-friendly products. Previously, it established an ESG Committee as a subcommittee under the board of directors and set up a dedicated ESG management team.

The company developed Korea’s first 170kV gas-insulated switchgear (GIS) using eco-friendly gas. After more than four years of research and demonstration, it was developed in-house and reduced greenhouse gas emissions by more than 99% compared to similar existing products. The company plans to expand its eco-friendly product lineup, including customized GIS that can respond to country-specific environmental regulations, eco-friendly insulating oil transformers, and shaft generators.