[2021 Asia Construction Awards] GS Construction Establishes ESG Committee... Achieves A Grade in Listed Company Evaluation

Seoul Mayor's Commendation in the Eco-Friendly Category

[Asia Economy Reporter Kim Hyemin] GS Engineering & Construction, which received the Seoul Metropolitan Mayor's Commendation in the eco-friendly sector this year, is actively pursuing ESG (Environmental, Social, and Governance) management through the establishment of new organizations and the promotion of new businesses.

This year, it was recognized as a leading eco-friendly construction company in Korea by obtaining an integrated grade of "A (Excellent)" in the "2020 Listed Companies ESG Evaluation" announced by the Korea Corporate Governance Service (KCGS). It has been included in the Dow Jones Sustainability Index (DJSI) Asia Pacific Index for 10 consecutive years, exemplifying exemplary ESG management.

Earlier this year, the ESG Committee, the core control tower for sustainable management, was established. The ESG Committee will be elevated to a committee within the board of directors at next year's shareholders' meeting. The committee will be responsible for identifying ESG-related issues and reviewing sustainable management strategies and improvement plans.

Jeju Environmental Resource Recycling Center exterior. It is an eco-friendly facility that minimizes harmful gases generated during the waste incineration process and recovers heat to reuse for district heating or power generation. (Provided by GS Construction)

The new businesses are also focused on eco-friendliness. Following the successful completion of the Yeongheung Guksan Wind Power Commercialization Complex in 2011, the modernization of Hanam City environmental basic facilities and park creation project in 2015, and the Jeju Environmental Resource Circulation Center in 2019, the company has expanded into solar power development, battery recycling, and modular construction businesses.

This year, it began a secondary battery recycling business in the Pohang Regulatory Free Special Zone. In the first phase, it plans to invest approximately 100 billion KRW by next year to establish a facility that extracts 4,500 tons of secondary battery material metals annually. In June last year, it entered the Ukrainian solar power development business for the first time in the industry, strengthening its position in the global renewable energy market. Last year, it also acquired Danwood & Elements, a leading European modular company, and started a modular business that reduces construction waste and emissions by about half compared to conventional methods.