HK Innoen Establishes Sustainability Management Committee... Chairman Accountant Park Jaeseok

HK Innoen announced on the 30th that it held the 1st Sustainability Management Committee meeting at the HK Innoen Seoul Office in Jung-gu, Seoul on the 25th.

The Sustainability Management Committee is responsible for reviewing and deciding on matters related to HK Innoen’s ESG (Environmental, Social, and Governance) strategy, initiatives, investments, performance indicators, and non-financial risk management. Previously, ESG risks were managed through the ESG Working Group and the ESG Management Committee under the executive team, but going forward, it is expected that ESG risk management and supervision will be strengthened through the organic connection of working organizations, executives, and the board of directors by establishing and operating the Sustainability Management Committee within the board. To this end, HK Innoen added a clause to its articles of incorporation at the regular shareholders’ meeting in March allowing the establishment of the Sustainability Management Committee within the board, and on the 25th, the board approved the establishment of the Sustainability Management Committee and the enactment of its operating regulations.

The Sustainability Management Committee consists of six members: two inside directors, one other non-executive director, and three outside directors. It is regularly held once every six months. Park Jae-seok, a certified public accountant with expertise and experience in law, accounting/finance, and policy, was elected as the chairperson from among the outside directors to enhance the independence and transparency of the committee’s operations.

At the meeting, the committee resolved to elect the chairperson and to establish a biodiversity policy, which falls under the environmental sector of ESG policies, and discussed the ESG management strategy framework and joining the Korean version of RE100 (Renewable Energy 100%).

Chairperson Park Jae-seok stated, “By operating the Sustainability Management Committee within the board, we will implement strengthened ESG management and supervision compared to before.”