Dongkuk Steel, Focus on Mid- to Long-Term Eco-Friendly Projects Under R&D
Dongkuk CM Establishes New ESG Framework... "Actively Responding to Client Demands"
Dongkuk Steel Group's two steel business corporations, Dongkuk Steel and Dongkuk CM, announced on the 1st that they have published the '2024 Sustainability Management Report.'
This is the first sustainability management report since the split of Dongkuk Steel Group in June last year. Each company transparently disclosed their ESG management goals, current status, and achievements to internal and external stakeholders.
The report covers activities and achievements from June 1 to December 31 of last year, the time of the group split. Considering importance and continuity, some parts include updates from January to May of this year.
Dongkuk Steel's Sustainability Management Report is titled 'Steel for Green.' Steel for Green represents the highest value of sustainable management pursued by Dongkuk Steel. The report focuses on concretizing the goals and achievements of Steel for Green. It begins with company introduction, ESG management system, and materiality assessment, followed by sections on 'Steel for Green' and 'ESG Performance.'
This year's report emphasizes mid- to long-term eco-friendly projects actively pursued by Dongkuk Steel Central Technology Research Institute, including 'Sustainable Manufacturing' and 'Sustainable Products' under the 'Steel for Green' section. It provides detailed information on the development status of eco-friendly technologies such as ▲Smart Factory ▲Hyper Electric Furnace ▲Waste Heat Power Generation, as well as an introduction to eco-friendly product lines.
Dongkuk CM's Sustainability Management Report is titled 'Clean Move, Green Steel.' The report name uses the newly established ESG management slogan of Dongkuk CM.
Under the vision of becoming the 'Global No.1 Color Coating Company' and the new slogan, Dongkuk CM has established a mid- to long-term ESG strategy based on three core values: Clean Metal, Can-do Mission, and Clear Message.
The report starts with company introduction, ESG management system, and materiality assessment, and includes Dongkuk CM's activities in the environment, society, and governance fields under the sections 'PLANET,' 'PEOPLE,' and 'PRINCIPLE.'
With the independent management environment created by the group split, Dongkuk Steel and Dongkuk CM plan to continuously implement ESG management activities tailored to the characteristics of each company.
Choi Sam-young, Vice President and CEO of Dongkuk Steel, stated in the report, "As a leading domestic electric furnace company, we will take the lead in eco-friendly steel production," and added, "We will continue to respond promptly to environmental changes."
Park Sang-hoon, Vice President and CEO of Dongkuk CM, mentioned in the report, "Not only trade and commerce regulations but also supply chain ESG issues are being emphasized," and said, "We plan to actively respond to customers' ESG demands and related regulations to strengthen business competitiveness."
The sustainability management reports of both companies can be found on their respective websites.
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