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Hankook Tire forms new group to address sustainability management

Hankook Tire has launched an ESG (environmental, social and governance) committee to strengthen the responsibility and the role of the board to practice sustainable management.

On July 30, Hankook Tire’s board of director decided to set up a new ESG committee within the board of directors to improve corporate governance. The creation of the ESG committee aims to strengthen ESG management policies, strategies and activities.

With the establishment of the ESG committee, the committees within the board will be expanded to five units, including the existing audit committee, outside director nomination committee, sustainable management committee and internal transaction committee. The company aims to strengthen board-centered management and achieve sustainable growth in the long-run.

The ESG committee will be responsible for consulting, deliberating, and recommending directions regarding environmental, social and governance businesses. In order to boost professionalism and its function, the committee shall be composed of more than three members with over half of the members from outside the board. The committee appoints its chairperson through a committee resolution.

As the first chairperson of the ESG committee, outside director Mira Lee has been appointed. The committee has been set to consist of seven internal and external directors, including the chairperson. Mira Lee is a female leader who has accumulated extensive experience and expertise from global companies with leading corporate governance practices such as General Electric Co. (GE) and Macquarie Group. She is also a graduate of Ewha Womans University’s specialized program for female outside director training.

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

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