Hankook Tire establishes ESG committee

Hankook Tire is introducing an ESG (Environment, Social, Governance) committee to strengthen its Board of Directors’ responsibility and activities in the area of sustainable management. The ESG committee will be responsible for consulting, deliberating, and recommending directions regarding environmental, social and governance businesses.

The committee will be composed of more than three members of the board and over half of its members shall be outside directors; the tyre maker says the selection of outside directors will boost professionalism as well as the board’s function. The committee will appoint its chair through committee resolution.

The ESG committee will include all members of the Board of Directors, and outside director Mi-ra Lee is the committee’s first chair. Lee has accumulated various experiences and expertise from global companies with leading corporate governance practices such as GE (General Electric) and Macquarie Group. She is also amongst the first graduates of Seoul-based Ewha Womans University’s specialised programme for female outside director training.

With expertise in finance from global companies as well as in strategic planning, investment, personnel management, organisational culture innovation, and diversity and inclusion, Lee is expected to represent the various interests of stakeholders and the public while also contributing to resolving key management issues to maximise the company’s long-term growth and corporate value.

5 BoD committees

The establishment of an ESG committee increases the number of committees within the board to five units, including the existing audit committee, outside director nomination committee, sustainable management committee and internal transaction committee. Hankook Tire says it aims to strengthen “board-centred management” and achieve sustainable growth in the long run.