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HHI Group Is Committed to Implement Human Rights Management

Hyundai Heavy Industries (HHI) Group steps up ESG management by establishing Human Rights Management Committee among its affiliated companies.

HHI Group has continuously promoted human rights management by establishing a roadmap in 2020 and stipulating an in-house code for the protection of human rights. Its recent efforts extend to making the Human Rights Management Committee and Declaration of Human Rights Management.

Korea Shipbuilding & Offshore Engineering, an intermediate holding company of HHI Group's shipbuilding business, made a declaration of human rights management on May 26. Its subsidiary Hyundai Heavy Industries also declared its commitment to human rights management and established the Human Rights Management Committee on May 16. Other major affiliates including Hyundai Oilbank and Hyundai Genuine have joined to engage in the human rights management, aligning with the group's vision.

The Human Rights Management Committee takes charge of human rights impact assessment, human rights education, and remedies for human rights violations. With the chief ESG officer as the chairperson, the committee also manages and monitors major human rights issues and reports material issues to the ESG committee under the board of directors.

The Declaration of Human Rights Management embodies HHI Group's resolve and upcoming plans for human rights management, including:

⦁ Respect for human rights of the stakeholders
⦁ Support for international human rights norms (e.g., Universal Declaration of Human Rights)
⦁ Efforts to prevent and remedy human rights violations
⦁ Constructing a human rights governance system
⦁ Establishing guiding principles for human rights management
⦁ Human Rights Impact Assessment

Each affiliate plans to conduct Human Rights Impact Assessment on a regular basis and publish the results in the human rights management report, promoting active communication with the stakeholders.

"We will fulfill our social responsibilities through business management that appreciates human dignity and values," said Sam H. Ka, HHI Group's chief ESG officer. "We will take the lead in strengthening human rights management so that it can be applied and complied with all stakeholders."