Dear Stakeholders,
This is Jin-Bae Kim, Chairperson of Coway's ESG Committee.

I would like to take this opportunity to thank all of our stakeholders for supporting Coway's values, and I extend my gratitude to our employees and domestic and overseas partners for their continuous innovation.

Coway established the ESG Committee in 2021 to ‘strengthen ESG management’ leveraging the expertise and independence of the Board of Directors. The ESG Committee is composed of experts with experience and capabilities in various fields. It gathers the latest information and trends in each area, identifies ESG-related risks and opportunities, and formulates strategies to address them. Based on these efforts, we continuously and transparently disclose our ESG management activities to shareholders, investors, and other stakeholders.

In 2023, Coway made significant progress in our ESG activities as well. Let me briefly explain the progress made in each area.

First,
In the environment (E) area, Coway‘s waste mattress recovery and recycling system was recognized by the Ministry of Environment as an exemplary case of mattress resource circulation. We also established a Scope 3 inventory to measure GHGs generated throughout our corporate value chain, enabling us to disclose GHG information at the supply chain level. Based on this information, we will continue our GHG reduction efforts across the entire value chain.

In the social (S) area, we conducted activities targeting the local community, such as biodiversity conservation (Classroom Forest Project1) and Ploving2)). Additionally, to promote win-win values, we established the Coway Mulbit Sori Choir for the Visually Impaired, contributing to the promotion of employment opportunities for individuals with disabilities and enhancing corporate diversity.

In the Governance (G) area, we have strengthened and clarified the independence requirements for the appointment of Independent Directors through guidelines and established a system for the Independent Director Candidate Recommendation Committee to verify the independence of candidates based on the guidelines.

Amidst the rapidly changing global business environment, Coway is monitoring and complementing the ESG Committee's performance in identifying and implementing the above ESG management priorities and drawing a picture of Coway's ESG management vision, 'Better Earth Care Company'. The Coway ESG Committee will continue to play a pivotal role in implementing sustainable management, and we pledge to proactively respond to changes and transparently disclose Coway's commitments and responsibilities.

Thank you.

Coway ESG Chairperson Jin-Bae Kim
  • 1) Classroom Forest Project: An eco-friendly ESG project where students plant and cultivate air-purifying plants, including endangered species. This initiative aims to foster environmental awareness and emphasize the importance of environmental protection.
  • 2) Ploving: Unlike “flogging,” which involves picking up trash on land while walking or jogging, ploving is the activity of picking up trash while freediving in the ocean.