SK Hynix to create 7.5845 trillion won in social value in 2022
This result is 20% less than the 9.4173 trillion won the company will generate in 2021. The "indirect economic benefits" amounted to KRW 7.7853 trillion, the "environmental benefits" to KRW -1.0423 trillion and the "social benefits" to KRW 841.5 billion.
In terms of indirect economic benefits, there was a 20% decrease year-on-year. This was due to a decline in tax payments as a result of the downturn in the semiconductor market that began last year. Nevertheless, SK Hynix accounted for 37% of the total indirect economic benefits of the SK Group as a whole, which amounted to approximately KRW 20.8 trillion.
In terms of social benefits, the company's achievements in improving the quality of life of its employees and expanding support for partnerships were recognized, with a 29% year-on-year increase. We are actively supporting our employees to balance work and family by implementing systems such as 'Happy Friday', 'expanded childcare leave' and 'restorative leave for family bonding and relaxation'.
In addition, the company has been making efforts to revitalize the Korean semiconductor ecosystem by selecting and supporting "technology innovation companies" among its partners every year and increasing technological cooperation for the localization of raw materials, components and equipment, which has also had a positive impact on the increase in social benefits.
The negative impact of "environmental benefits" increased by 9% year-on-year. The company explained, "The company recorded the highest sales in its history last year, and as a result, semiconductor production increased, and naturally so did resource consumption and greenhouse gas emissions. However, the company made efforts to transition to renewable energy by developing low-power products, investing in greenhouse gas reduction equipment, and procuring green power, thereby minimizing the negative impact."
SK Hynix is conducting the first social value measurement among SK Group companies this time, including partnerships. The company believes that creating social value and improving ESG management capabilities across the entire semiconductor ecosystem, not just companies, are necessary to respond to requests from domestic and international stakeholders to strengthen ESG on multiple fronts.
SK Hynix stated:
The results of benefits measured during consultations with 13 partnership companies* in the materials, equipment, logistics, and environmental services industries show that a total of 1.4698 trillion won in social value was created last year. This evaluation is an important opportunity for the partnerships to have their own systems for establishing and managing social value and ESG data.
The participating partnership said, "We will work together with SK Hynix to continuously improve and develop the management system and strive to create greater social value."
Kim Yun-wook, Vice President in charge of Sustainable Management at SK Hynix, said, "The company will also work together with diverse stakeholders, including the partnership companies, to create social value for the entire semiconductor ecosystem and strive to have a benevolent impact on society in the future."
In terms of indirect economic benefits, there was a 20% decrease year-on-year. This was due to a decline in tax payments as a result of the downturn in the semiconductor market that began last year. Nevertheless, SK Hynix accounted for 37% of the total indirect economic benefits of the SK Group as a whole, which amounted to approximately KRW 20.8 trillion.
In terms of social benefits, the company's achievements in improving the quality of life of its employees and expanding support for partnerships were recognized, with a 29% year-on-year increase. We are actively supporting our employees to balance work and family by implementing systems such as 'Happy Friday', 'expanded childcare leave' and 'restorative leave for family bonding and relaxation'.
In addition, the company has been making efforts to revitalize the Korean semiconductor ecosystem by selecting and supporting "technology innovation companies" among its partners every year and increasing technological cooperation for the localization of raw materials, components and equipment, which has also had a positive impact on the increase in social benefits.
The negative impact of "environmental benefits" increased by 9% year-on-year. The company explained, "The company recorded the highest sales in its history last year, and as a result, semiconductor production increased, and naturally so did resource consumption and greenhouse gas emissions. However, the company made efforts to transition to renewable energy by developing low-power products, investing in greenhouse gas reduction equipment, and procuring green power, thereby minimizing the negative impact."
SK Hynix is conducting the first social value measurement among SK Group companies this time, including partnerships. The company believes that creating social value and improving ESG management capabilities across the entire semiconductor ecosystem, not just companies, are necessary to respond to requests from domestic and international stakeholders to strengthen ESG on multiple fronts.
SK Hynix stated:
The results of benefits measured during consultations with 13 partnership companies* in the materials, equipment, logistics, and environmental services industries show that a total of 1.4698 trillion won in social value was created last year. This evaluation is an important opportunity for the partnerships to have their own systems for establishing and managing social value and ESG data.
The participating partnership said, "We will work together with SK Hynix to continuously improve and develop the management system and strive to create greater social value."
Kim Yun-wook, Vice President in charge of Sustainable Management at SK Hynix, said, "The company will also work together with diverse stakeholders, including the partnership companies, to create social value for the entire semiconductor ecosystem and strive to have a benevolent impact on society in the future."
