Cement business bellwether leading trend once again
Sampyo Cement announced on Jan. 27 that the company had established an ESG Committee for the first time in the South Korean cement industry.
In particular, the ESG Committee is composed of 100 percent outside experts, the move aimed at securing transparency and fairness in business management.
Sampyo Cement said that the dedicated committee would play a key role in coming up with the future strategies of the company and monitoring performances.
The committee plans to set up an independent task force team to decide a total of 129 missions to achieve. Sampyo Cement CEO Lee Song-seok will head the team.
Included in the missions are leadership, governance, risk management, workplace safety, information security, contribution to regional societies, stewardship of board members, and protection of shareholders’ rights.
Brief for Environmental, Social, and corporate Governance, ESG refers to the three major factors in gauging the sustainability of a corporation or business.
The concept has become a buzzword in the world over the past several years.
Established in 1957 as Tong Yang Cement, Sampyo Cement is a top-tier cement, concrete, and chemical company headquartered in Seoul.
