Hanwha Hotels & Resorts Wins K-ESG Environmental Sector Grand Prize

Recognized for Contributions to the '100 Years Forest Project'

Hanwha Hotels & Resorts announced on the 26th that it has won the Grand Prize in the Environment category at the '2023 K-ESG Management Awards.'

Yoo Chang-jo, a judge of the KESG Management Awards, and Seo Jeong-pyo, Head of Management Support at Hanwha Hotels & Resorts (right), are posing for a commemorative photo. Photo by Hanwha Hotels & Resorts

The K-ESG Management Awards are given to exemplary companies based on the ESG guidelines from the Ministry of Trade, Industry and Energy. The evaluation is conducted in three categories: Environment (E), Social (S), and Governance (G). Hanwha Hotels & Resorts was selected for the Grand Prize in the Environment category in recognition of its contributions through the '100-Year Forest Project,' which has been ongoing since 2018. The Environment category focuses on evaluating greenhouse gas emissions, waste discharge, and other related factors. This year’s award ceremony was held the previous day at The Plaza Grand Ballroom.

The 100-Year Forest Project by Hanwha Hotels & Resorts is a large-scale social contribution initiative to cultivate approximately 800 hectares (2.5 million pyeong) of forest in the areas of Yangpyeong, Gyeonggi Province, and Sokcho, Gangwon Province, expanding carbon absorption sources. Among these, the Yangpyeong site has received certification from the Ministry of Environment and is the only private company authorized to trade carbon emission rights in the forestry sector. In Sokcho, the project is even more significant as it involves restoring areas damaged by forest fires to absorb carbon. Upon completion, the 100-Year Forest Project is expected to absorb up to 10,000 tons of carbon over 20 years.

Seo Jeong-pyo, Head of Management Support at Hanwha Hotels & Resorts, said, "Thanks to our continuous interest and efforts in environmental preservation, we have received the honor of winning the Grand Prize in the Environment category for the first time since our founding. As this is a field that not only realizes public value but also creates synergy with our business areas such as forest recreation and wellness, we will do our best to ensure the project proceeds without any setbacks."