Hyundai Heavy Industries Group's Commitment to 'Human Rights Management'... Establishes Human Rights Management Committees in 12 Affiliates

Promotion of Human Rights Impact Assessment and Report Publication This Year
Strengthening Communication with Stakeholders

[Asia Economy Reporter Jeong Dong-hoon] Hyundai Heavy Industries Group is accelerating efforts to strengthen human rights management by establishing human rights management committees at each affiliate as part of its ESG (Environmental, Social, and Governance) management.

On the 26th, Hyundai Heavy Industries Group announced that Korea Shipbuilding & Offshore Engineering, its intermediate holding company for shipbuilding, adopted a human rights management declaration, and that 10 major group affiliates, including Hyundai Oilbank and Hyundai Genuine, plan to follow suit within this year. Earlier, Hyundai Heavy Industries also established a human rights management committee and declared human rights management on the 16th.

Since 2020, Hyundai Heavy Industries Group has been continuously promoting human rights management by establishing a human rights management roadmap and codifying human rights protection norms. The establishment of the human rights management committee and the human rights management declaration are extensions of these efforts.

The human rights management committee appoints the ESG Chief Officer of each company as the chairperson and is responsible for human rights impact assessments, human rights education, and remedies for human rights violations. It also manages and monitors major human rights issues and reports significant matters to the ESG committee within the board of directors.

The human rights management declaration includes the group’s commitment and plans regarding human rights management, such as ▲respect for the human rights of stakeholders ▲support for international human rights norms including the United Nations (UN) Universal Declaration of Human Rights ▲efforts to prevent and remedy human rights violations ▲establishment of a human rights governance system ▲enactment of human rights management practice regulations ▲and conducting human rights impact assessments.

In particular, major affiliates of Hyundai Heavy Industries Group plan to regularly conduct human rights impact assessments in the future and publish human rights management reports containing the assessment results to strengthen communication with stakeholders.

Kasamhyun, Vice Chairman of Hyundai Heavy Industries Group (ESG Chief Officer), stated, "We will fulfill our responsibilities as members of society through management that respects human dignity and value," adding, "We will take the lead in strengthening human rights management so that Hyundai Heavy Industries Group’s human rights policies apply to and are complied with by not only employees but all stakeholders."

Meanwhile, in November last year, Hyundai Heavy Industries Group announced its group ESG management vision, "A Clean Future Starting from the Sea," and the slogan "Beyond Blue Forward to Green." Additionally, the group is striving to establish and spread ESG management by developing common ESG management activity evaluation indicators across the group.