Structure of Governance

Coway established the ESG Committee within the Board of Directors (BOD) in August 2021 to achieve sustainable growth by defining and practicing ESG strategies and core values related to the environment, society, and governance, in accordance with the Articles of Incorporation and the BOD Regulations. As the highest decision-making body related to the environment, society, and governance, the ESG Committee aims to create an active and transparent ESG management culture and enhance long-term corporate value. The main roles of the ESG Committee include setting ESG management goals and strategic directions, managing major risks, and supervising overall ESG management activities, thereby making core decisions for Coway's ESG management.

Implementation System

Coway’s ESG system consists of three bodies, including the ESG Committee, ESG Consultative Group, and ESG Working Group. The ESG Committee is the highest decision-making body, composed of two Independent Directors and the CEO. It performs deliberations, takes decisions, and reviews major ESG issues to suggest strategic directions for sustainability management. The ESG Council monitors major issues, conducts detailed discussions on issues such as ESG strategies and policies, goal establishment, and improvement tasks based on the materiality of ESG-related issues, and submits the agenda to the Committee. The ESG Working Group analyzes ESG trends and changes in regulations, consults with outside experts and stakeholders, and supports the ESG Committee and ESG Consultative Group. Coway will expand its business competitiveness through ESG management throughout its business and strive to establish its presence as a respected company that pursues mutual growth with stakeholders.

ESG Organization of Coway

Roles of Coway’s ESG Consultative Organization

Category ESG Committee ESG Council ESG Working Group
Role

Deliberation, resolution, and review

Submission of the agenda to the Committee

Discussion on and reporting of general ESG related issues

Agendas reporting and operational execution

ESG operational support/training
Details

Resolution and review of major issues

Setting ESG strategies, policies, and goals

Proposal of agendas based on the status of ESG initiatives

ESG related issues monitoring

ESG Committee and ESG Council operation

ESG operational policy training

ESG improvement task proposal and discussion

ESG trend analysis

ESG Management Vision

Company Caring for a better Earth

Company Caring for a better Earth

Plans 2030 for a better Earth

Plans 2030 for a better Earth

Core Values

Environmental

Establishment of carbon neutral management system

Social

Respect for human rights and diversity of members

Governance

Maintenance of transparent and sustainable governance

Mid-to Long-term Goals and Strategies

Coway has been committed to sustainable management long before the establishment of the ESG Committee. Beginning with the declaration of business ethics and environmental management in 2006, we implemented a sustainable management system. In 2009, we set voluntary targets for reducing greenhouse gas (GHG) and have since been at the forefront of environmental management practices. Over time, we expanded our ESG management scope to include privacy protection systems and fostering shared growth with business partners. In 2016, the establishment of the Infinite Responsibility Committee further strengthened our commitment to product responsibility and enhancing customer trust.

By 2021, we had developed a mid-to-long-term GHG emission reduction plan and announced our goal of achieving carbon neutrality (Net-zero) by 2050. In 2023, we demonstrated our dedication to stakeholders by disclosing key tasks and goals for each area of ESG management. Coway's steadfast efforts to create sustainable value are deeply rooted throughout our business value chain, shaping a brighter future.

Annual ESG Goals

2006

Declaration of business ethics and environmental management

2009

Setting GHG reduction targets

2021

2050 Net-zero commitment

2022

Establishment of ESG management vision and long-term strategy

2023

Setting major goals for each ESG area

2024

Conversion of worksite (Incheon Factory) to renewable power generation (RE100)

2030

Reduce carbon emissions by 50%

2050

Achieve Net-zero

Major ESG related Tasks

In 2023, Coway’s ESG Committee and other relevant organizations selected major tasks for each ESG-related area to meet the demands of the international community regarding corporate ESG. These major tasks will be monitored annually under the mid- to long-term strategy, aiming to respond to these demands and strengthen the competitiveness in the global market.

Major ESG Related Strategies