Hyundai Wia employees are holding the Hyundai Wia 2021 Sustainability Report at the Hyundai Wia Uiwang Research Center in Uiwang-si, Gyeonggi-do on the 23rd.Photo by Hyundai Wia
[Asia Economy Reporter Ki-min Lee] Hyundai Wia announced on the 23rd that it has published the "Hyundai Wia 2021 Sustainability Report," which contains its future business vision and ESG (Environmental, Social, and Governance) management activities.
Through the report, Hyundai Wia revealed its goal to achieve continuous growth through the "eco-friendly automotive parts business" and the "automation systems and smart factory business." At the same time, it stated that it will further strengthen its ESG management activities.
Hyundai Wia established four major management policies: ▲strengthening research and development (R&D) for future value creation ▲expanding eco-friendly products and services ▲establishing a win-win development system with partner companies ▲enhancing corporate social responsibility (CSR) activities. Through these, it plans to secure a competitive edge in the rapidly changing automotive and machinery industry markets.
First, to secure future growth engines, Hyundai Wia plans to expand eco-friendly parts by developing integrated thermal management modules, electrification parts, and hydrogen fuel cell vehicle parts. The sustainability report also includes the goal of leading the machinery industry market with smart manufacturing logistics solutions based on robots and autonomous driving.
Moreover, Hyundai Wia plans to further strengthen win-win development with partner companies by expanding the cash payment ratio, increasing financial support such as the win-win growth fund, and expanding educational programs to enhance partner companies' capabilities. It also intends to strengthen communication with partner companies by establishing dedicated organizations such as the Win-Win Growth Office.
Furthermore, considering the growing societal demands and interest in corporate social responsibility, Hyundai Wia will also strengthen its CSR activities. The company set four major CSR promotion directions: ▲environmental conservation and climate change response ▲improving mobility convenience for socially vulnerable groups ▲enhancing traffic safety and social safety ▲volunteer activities involving employees and customers.
A Hyundai Wia official said, "We will strive to achieve sustainable growth together with all stakeholders."
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