[ESG Management Era] "Eco-friendliness and Co-prosperity"… SK Hynix Forms 'Eco Alliance' with Over 40 Partners

Representatives of partner companies and environmental officers attending the launch ceremony of the 'Eco Alliance,' formed in 2019 by SK Hynix and its partners to address environmental issues in the semiconductor ecosystem, are taking a commemorative photo.
[Photo by SK Hynix]

[Asia Economy Reporter Kim Heung-soon] SK Hynix is committed to 'DBL (Double Bottom Line) management,' a strategy that simultaneously pursues economic and social value through ESG (Environmental, Social, and Governance) management.

In January this year, the company announced the 'SV 2030' roadmap, a mid- to long-term plan to maximize the creation of social value (SV). It identified four major SV creation areas: 'Environment,' 'Mutual Growth,' 'Social Safety Net,' and 'Corporate Culture,' declaring its goal to achieve these targets by 2030 both internally and externally.

In the semiconductor production process, considering the environmental impacts inherent to the industry, SK Hynix has set and is implementing detailed tasks such as reducing greenhouse gas emissions, recycling waste, managing water resources, and expanding the use of renewable energy.

With over 40 partner companies, SK Hynix formed the 'Eco Alliance' to collaborate on solving environmental issues faced by the semiconductor ecosystem. The company also issued green bonds, a type of special purpose bond that can only be used for financing environmentally friendly investments. The funds raised will be invested in eco-friendly projects such as water quality management, energy efficiency, pollution prevention, and ecological environment restoration.

Mutual growth is another important value pursued by SK Hynix. The company operates mutual growth programs for its partners, including analysis and measurement support projects, pattern wafer support projects, and ESG consulting.

SK Hynix also focuses on establishing sound corporate governance. It has stipulated that outside directors must constitute a majority of the board to ensure transparency and independence. Additionally, the roles of the board chair and CEO are separated to strengthen oversight and checks on management. To transparently disclose ESG activities and achievements, the company publishes a sustainability report annually.