Taekwang Industrial Launches ESG Committee

Nam Yuseon Appointed as Outside Director and Chairman

Taekwang Industrial and Daehan Chemical Fiber will establish an ESG Committee within the board of directors to build a sustainable ESG management system.

Taekwang Industrial, a textile and petrochemical affiliate of Taekwang Group, announced on the 1st that it held a board meeting at its Seoul headquarters on the 30th of last month and approved the agenda to establish the ESG Committee.

Taekwang Group launched the Future Committee, responsible for establishing the group vision and business strategy, to accelerate ESG initiatives at the group level, and Daehan Chemical Fiber also established an ESG Committee through its board meeting on the 27th of last month.

Taekwang Industrial formed the ESG Committee with a total of five members: Nam Yuseon, an outside director (chairperson), CEO Jo Jin-hwan, CEO Jeong Cheol-hyun, and two other outside directors.

The committee monitors the implementation status and issues of short- and mid-to-long-term ESG execution plans and is responsible for performance evaluation of related support organizations. The support team under the committee carries out practical tasks such as establishing and operating execution plans, collecting and producing related data, issuing reports, and disclosures.

A Taekwang Industrial official said, “The business environment is rapidly changing with improvements in corporate governance, strengthened communication with partners, and exercising shareholder rights from an ESG perspective,” adding, “We will establish a board-centered independent management system for the advancement of governance and actively respond to climate change to fulfill our social responsibilities.”

Taekwang Industrial has launched an ESG Committee. (From left) Youngjin Choi, Outside Director; Jinhwan Jo, CEO; Yuseon Nam, Outside Director (Chairperson); Wonjun Choi, Outside Director; Cheolhyun Jeong, CEO. Photo by Taekwang Industrial