Youngpoong Co., Ltd. Publishes First Sustainability Management Report... "Full-Scale ESG Management"

New Sustainable Management Team Established in June This Year

Cover of Yeongpung 2023 Sustainability Management Report. Photo by Yeongpung

Youngpoong Co., Ltd. has taken steps to strengthen ESG (Environmental, Social, and Governance) management by publishing its first sustainability management report this year and establishing a dedicated department.

On the 25th, Youngpoong announced that it had published the "2023 Sustainability Management Report," which details its ESG management activities and achievements from the previous year.

Youngpoong's sustainability management report was prepared in accordance with international reporting guidelines such as the GRI (Global Reporting Initiative) Standards and underwent third-party verification by an independent external professional organization to ensure the accuracy and reliability of the report's information.

The report was published in electronic document form without a printed version to protect the environment and conserve resources. Additionally, to enhance user convenience, it was released as an interactive (responsive) PDF that allows navigation within the report and direct links to related web pages.

In this report, Youngpoong identified three core key issues, four major important issues, and seven potential issues based on a double materiality assessment, disclosing activities and achievements related to each issue. The double materiality assessment is a methodology that analyzes the bidirectional impact of corporate activities on the environment and society, as well as the financial impact of external factors on the company, to derive key issues.

Through this, Youngpoong established the slogan "From Nature to Resources and Back to Nature" and the vision of becoming a "world-class company that considers nature and leads industry," presenting an ESG management strategy aimed at enhancing the happiness of various stakeholders including customers, partners, shareholders, and society.

Specifically, in the Environmental (E) sector, efforts include the "Net Zero 2050" roadmap, climate change response, and minimizing environmental impact; in the Social (S) sector, sustainable supply chains, a diverse and inclusive organizational culture, and social contributions; and in the Governance (G) sector, governance, ethical and compliance management, risk management efforts and achievements, and future directions were disclosed.

Youngpoong has consistently continued its efforts to practice ESG management. In 2021, it introduced the world's first "wastewater reuse facility (zero discharge system)" at its main business site, the Youngpoong Seokpo Smelter, which reuses all process water without discharging it externally, gaining attention as a model case and benchmark for eco-friendly water treatment.

It is participating in overcoming the climate crisis through its own carbon-neutral activities such as operating an in-house waste heat power generation system and ESS (Energy Storage System), and providing the smelter’s ultra-high voltage (145kV) power grid free of charge for the resident-led "Omisan Wind Power" project.

Since June of this year, Youngpoong has established the "Sustainability Management Team," a dedicated ESG management organization. This expanded and reorganized the existing ESG TF (Task Force), which was a working group under the ESG Committee, laying the foundation for full-scale ESG management.

Also in June, Youngpoong separately published the English-language "Responsible Minerals Report," transparently disclosing voluntary establishment and management plans for a sustainable mineral supply chain to domestic and international stakeholders.

Youngpoong’s Sustainability Management Report and Responsible Minerals Report can be found on the Youngpoong website. A Youngpoong official stated, "By quickly identifying domestic and international ESG trends and stakeholder demands and reflecting them in the organization, we will continue to advance sustainability management to enhance the value of all stakeholders, including customers, shareholders, and local communities."