Cement Industry Strengthens 'ESG Management' "National Attention and Support Needed"

'2022 Cement Industry ESG Management National Assembly Forum' Hosted by Eom Tae-young and Yoo Sang-beom's Offices Held

Participants are taking a group photo at the '2022 Cement Industry ESG Management National Assembly Forum.' From the seventh person from the left in the back row: Representative Inseon Lee, Representative Sangbeom Yoo, Representative Taeyoung Eom, Representative Geumhee Yang. CEO Sanggyu Kim (Sungshin, second from the left in the front row), Chairman Hyunjun Lee, CEO Geunsik Jeon (Hanil Hanil Hyundai), CEO Kyungtae Lim (Aseahanra), CEO Jongseok Lee (Sampyo).
[Photo by Korea Cement Association]

[Asia Economy Reporter Kim Jong-hwa] A National Assembly forum was held to review the ESG management performance of the domestic cement industry, including carbon neutrality and social contribution activities, and to discuss mid- to long-term development directions necessary for future eco-friendly industrial transformation and strengthening the foundation for regional coexistence.

The Korea Cement Association, which has major domestic cement companies as members, participated in the '2022 Cement Industry ESG Management National Assembly Forum' held on the 16th at the 3rd Seminar Room on the 2nd floor of the National Assembly Members' Office Building. The forum was hosted by the offices of Assemblymen Eom Tae-young (Chungbuk Jecheon-Danyang, People Power Party) and Yoo Sang-beom (Gangwon Hongcheon-Hwacheon-Yeongwol-Pyeongchang, People Power Party), and organized by the Korean Tax Policy Association and the Korea Productivity Center.

At the forum, in addition to Assemblymen Eom Tae-young and Yoo Sang-beom, major cement company CEOs participated, including Chairman Lee Hyun-jun (Ssangyong C&E), Lee Jong-seok (Sampyo), Jeon Geun-sik (Hanil Hyundai), Lim Kyung-tae (Asia Halla), and Kim Sang-gyu (Sungshin).

In his opening remarks, Assemblyman Eom Tae-young emphasized the social responsibility of high carbon-emitting industries, stating that ESG management in the cement industry is a timely issue involving environmental improvement in cement plant areas and welfare enhancement for local residents. He urged the cement industry to lead national prosperity and happiness enhancement through various contribution projects and eco-friendly activities.

Assemblyman Yoo Sang-beom also highlighted the significance of establishing a 'Cement Industry Regional Social Contribution Win-Win Fund' worth 25 billion KRW annually to guarantee tangible benefits to the local communities and residents who have supported the growth foundation of the cement industry. He expressed expectations that this forum would play a significant role in expanding ESG management and setting mid- to long-term directions for the cement industry.

Oh Beom-taek, Center Director of the Korea Productivity Center, delivered a keynote presentation titled 'Successful Cases of Social Contribution in the Cement Industry and Mid- to Long-Term Roadmap.' He explained that despite difficult conditions, a grand compromise was reached to establish a 25 billion KRW fund through long negotiations led by National Assembly members from cement production regions, cement companies, and local communities. He added that successful operation of the fund has greatly contributed to creating a model for win-win development between the cement industry and local communities.

Kim Ui-cheol, Center Director of the Cement New Materials Research Association, presented on 'Cement Industry Carbon Neutrality Roadmap and Building a Resource Circulation Society.' He emphasized that although the burden is great enough to change the paradigm of the cement industry to reduce greenhouse gas emissions, continuous efforts will be made to transform into an eco-friendly industry. He also mentioned the need for nationwide attention and support.

A Korea Cement Association official stated, "This forum was a valuable event that greatly helped set directions following the establishment of the 25 billion KRW 'Cement Industry Regional Social Contribution Win-Win Fund.' We will faithfully fulfill our role as a national key industry by leading carbon neutrality and building a resource circulation society based on coexistence with local communities."