HK Innoen Publishes "2024 Sustainability Management Report"

On July 2, HK Innoen announced the publication of its "2024 Sustainability Management Report," which details its 2024 ESG management strategy, key activities, and achievements.

Since 2022, HK Innoen has published a Sustainability Management Report annually to communicate with stakeholders regarding ESG management. This fourth edition incorporates the European Sustainability Reporting Standards (ESRS), establishing a globally aligned financial disclosure framework and enhancing the reliability of the information provided.

HK Innoen 2024 Sustainability Management Report (left) and HK Innoen 2024 Social Contribution White Paper (right). Photo by HK Innoen

HK Innoen conducted a "double materiality assessment" as proposed by the ESRS to identify key issues, and included decision-making processes and response strategies for each issue in the report. The report also contains analyses of impacts, risks, and opportunities throughout the value chain, as well as the corresponding financial impacts.

The double materiality assessment considers not only the impact the company has on the environment and society, but also how environmental and social issues affect the company's finances. This approach contributes to strengthening the company’s long-term ESG competitiveness.

In accordance with ESRS guidelines, HK Innoen disclosed information on seven topics: climate change, pollution, biodiversity and ecosystems, resource use and circular economy, own workforce, consumers and end users, and business operations. The company also enhanced the specificity and systematic nature of disclosures for each topic.

This report organizes non-financial information based on the Global Reporting Initiative (GRI) guidelines and the "IFRS S2 Climate-related Disclosures" released by the International Sustainability Standards Board (ISSB). In addition, the report references various international sustainability standards, including the United Nations Global Compact (UNGC), the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the Task Force on Nature-related Financial Disclosures (TNFD). Third-party verification was also conducted to further enhance the objectivity and credibility of the report.

The beginning of the report features a handwritten message from the CEO, expressing the CEO’s strong commitment to ESG management and demonstrating the company’s genuine dedication to sustainability. The full text of the "2024 Sustainability Management Report" is available on the official HK Innoen website.

Kwark Dalwon, CEO of HK Innoen, stated, "Last year, our company was the only pharmaceutical company to be selected as an 'Excellent ESG Company' at the awards ceremony organized by the Korea ESG Standards Institute (KCGS). In addition, we ranked first for the third consecutive time in the group of companies with assets between 500 billion and 2 trillion KRW in the 2025 first-half ESG evaluation by Sustinvest. As a leader in ESG management within the pharmaceutical industry, we will continue to enhance our credibility through global-level disclosures and practice sincere ESG management."

Meanwhile, HK Innoen is also actively engaged in social contribution activities, having published the "2024 Social Contribution White Paper," which details its major social contribution initiatives and achievements. This is the third edition of the Social Contribution White Paper, which focuses on the "3N" framework?Healthy Community (Health N), Healthy Future Generation (Dream N), and Healthy Climate Environment (Eco N)?to promote a healthy future through a variety of activities. The full text of this report is also available on the official HK Innoen website.