SK Bioscience Publishes First ESG Report: "Created Social Value of 339.9 Billion KRW Last Year"

[Asia Economy Reporter Lee Gwan-joo] SK Bioscience announced on the 14th that it has published its first ESG (Environmental, Social, and Governance) report since its launch.

This report includes information on major management activities and ESG performance. The social value (SV) created by SK Bioscience last year amounted to 339.9 billion KRW, with an 'economic indirect contribution performance' of 192.3 billion KRW through business activities, and a 'social performance' of 147.8 billion KRW encompassing the promotion of human health through vaccine development and the pursuit of happiness for stakeholders such as employees.

Regarding the economic indirect contribution performance, it was measured by applying items such as economic contributions linked to sales growth last year and securing new personnel through the advancement of research and development (R&D). Additionally, the social performance area included contributions to strengthening social and health safety nets through COVID-19 vaccine contract manufacturing (CMO) during the COVID-19 pandemic and solving social issues in the medical and health sectors through various community service activities.

SK Bioscience plans to continue its efforts to create SV through the development of 'Skycovione,' Korea’s first COVID-19 vaccine to enter the global market this year, and the cultivation of global bio talent to respond to the next pandemic. The company also aims to achieve sustainable growth by securing new platforms such as messenger ribonucleic acid (mRNA) and cell and gene therapy (CGT), and pioneering new markets through its global network.

Furthermore, SK Bioscience presented four major strategies to advance ESG management and achieve sustainable growth: ▲ Establishing an eco-friendly management system ▲ Pursuing stakeholder happiness ▲ Creating social value linked to business ▲ Operating sustainable and transparent governance. The company also established plans to pursue eight strategic goals across ESG areas. Specifically, these include establishing climate change response strategies and a carbon neutrality roadmap, publishing a climate change financial disclosure report, and obtaining international certification for its environmental management system (ISO14001).

Jonghyun Park, Head of Strategy Planning at SK Bioscience, said, “This report is meaningful as the first ESG report that contains SK Bioscience’s promises regarding its past, present, and future,” adding, “We will strategically implement the promises contained in the report to drive the company’s growth, contribute to public health, actively communicate with stakeholders, and fulfill our social responsibilities.”