Hyosung Chairman Cho Hyun-joon directly takes part in strengthening suppliers’ ESG management capabilities

[이데일리 하지나 기자] Hyosung Chairman Cho Hyun-joon will directly step forward to strengthen ESG management capabilities to enhance the global competitiveness of small and medium-sized suppliers in the domestic textile industry.

Hyosung TNC announced on the 16th that it has decided to promote △education and consulting support for strengthening ESG capabilities of its suppliers and △support for eco-friendly certification costs.

This support project is based on the judgment that it is essential to enhance the global competitiveness of suppliers as the importance of ESG management of suppliers increases due to the ‘Supply Chain Due Diligence Act’, which will be implemented worldwide, including the EU, from next year. The Supply Chain Due Diligence Act mandates regular due diligence on ESG factors, such as the environment, labor, human rights, and governance, throughout the entire supply chain of target companies, and discloses and corrects problems found during due diligence, such as worker human rights and environmental pollution of partner companies. system that must be

Hyosung Chairman Cho Hyun-joon

To this end, Hyosung TNC provides △employee ESG training △ESG diagnosis and guide △improvement consulting for 11 partner companies on four occasions from March to June this year with ESG consulting companies.

In addition, Hyosung TNC is the first in the domestic textile industry to support small and medium-sized suppliers in issuing eco-friendly certifications. The acquisition of global eco-friendly certification is expected to help suppliers improve their ESG competitiveness, such as responding to ESG regulations.

Hyosung TNC’s representative recycled polyester fiber ‘Regen’ and ‘creora BioBased’, the world’s first bio-fiber made from corn extract, are used for △GRS △SGS Eco Product Mark certification for 21 small and medium-sized suppliers that manufacture fabrics. We plan to support costs, etc. The eco-product mark is a certification for products that are △using eco-friendly raw materials, △harmless to the human body, and △produced in an eco-friendly way through ESG management.

Regen, a recycled polyester fiber developed by Hyosung TNC for the first time in Korea in 2008, became the first in the world to acquire the global recycling standard certification, GRS, in 2009. In June of last year, ‘creora BioBased’ obtained the ‘Eco Product Mark’ from SGS, a world-class inspection, verification, testing and certification agency headquartered in Geneva, Switzerland.

Hyosung Chairman Cho Hyun-joon said, “ESG is becoming a corporate value standard that encompasses the present and future,” and “We will lead the global eco-friendly textile trend by strengthening ESG management of Hyosung and other partners.”