First Sustainability Report Published in June
CEO Roundtable for IR Scheduled on the 4th
Designated as a Large Business Group and Transferred to KOSPI Last Year
Strengthening Communication for Shareholder Value
Paradise Group announced on July 3 that it has declared this year as the "first year of ESG (Environmental, Social, and Governance) management" and will maximize value creation for its stakeholders.
Choi Junghwan, CEO of Paradise Group, presented this vision, stating, "We will renew all management activities from an ESG perspective, improve our evaluation ratings every year, and use this as a turning point for innovation in sustainable management."
The company explained that this decision stems from its heightened recognition of the importance of responsible and sustainable management following its recent designation as a large business group last year and its successful transfer listing to the KOSPI, which led to external growth.
Paradise began preparing for an ESG management overhaul last year and launched an ESG council in April of this year. Last month, the company published its first 2024 Sustainability Report, sharing its achievements with external stakeholders. In October last year, Paradise recruited a new Chief Financial Officer (CFO) and reorganized its investor relations (IR) team to enhance shareholder value. On July 4, the company will host a "CEO Roundtable" for securities analysts, where it plans to communicate its financial performance and outlook.
In its first sustainability report, Paradise stated, "We have established a sustainable management system that fulfills corporate social responsibility, builds a transparent and sound governance structure, and responds quickly and systematically to stakeholder needs."
As an environmental initiative, the company introduced plans for its flagship hotel in Jangchung-dong, Seoul, scheduled to open in 2028. From the construction stage, Paradise is thoroughly incorporating environmental management strategies to obtain Green Standard for Energy and Environmental Design (G-SEED) certification and develop a leading eco-friendly hotel in Korea.
In the social sector, Paradise highlighted its ongoing commitment to social contribution activities rather than one-time donations, as well as its efforts to achieve mutual growth with local communities. A notable example is the use of local agricultural products, such as "Ganghwaseomssal" from Ganghwa-gun, Incheon, in resort food and beverage menus, which helps expand the supply of local produce.
Additionally, to establish transparent governance, the company announced a plan to enhance corporate value and expanded shareholder dividends at the end of March. In early June, Paradise also implemented shareholder return policies such as the cancellation of treasury shares.
CEO Choi emphasized, "We will continue to pursue social contribution activities based on our expertise, advance the operation of our board of directors, and establish a compliance system to become a company trusted by the public. We will also improve evaluation indicators by actively communicating our business performance and ESG activities through annual report publications."
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