NEWS

HD Hyundai Heavy Industries and IBK Industrial Bank signed a 'Collaborative ESG Consulting Agreement' on May 19 at the HD Hyundai Heavy Industries headquarters in Ulsan, with the attendance of HD Hyundai Heavy Industries' ESG Chief Officer Vice President Lim Yeong-ho and IBK Industrial Bank's Innovation Finance Group Head Vice President, Kim In-tae.

Under this agreement, HHI recruited and selected supplier companies that require ESG management practices and devised measures to incentivize ESG compliance among these firms.

IBK Bank, on the other hand, conducted ESG change management training for HHI's supplier companies and provided detailed ESG assessments for the selected 20 supplier companies.

IBK Bank's "ESG Consulting with Detailed Assessment" specializes in assessing ESG levels, identifying critical factors, urgent improvement areas, and providing specific execution guidelines and best practices tailored for small and medium-sized enterprises.

This initiative is expected to prepare supplier companies for imminent ESG risks such as upcoming EU corporate sustainability due diligence and to strengthen their ESG management foundations.

HHI has been actively promoting ESG management culture across the shipbuilding industry by partnering with the Korea Commission for Corporate Partnership since last year, undertaking initiatives such as the "ESG Support Program for Contractors" and supporting the use of Co-Prosperity Funds for outstanding ESG supplier companies.

Mr. Lim Young-ho, Vice President and Chief ESG Officer of HHI, stated, "Given the increasing significance of ESG management, we will continue to provide ongoing support to enable supplier companies to actively implement ESG practices."