[Best Brand] Hyundai Mobis strives for sustainable management

Automotive Parts / Hyundai Mobis

Hyundai Mobis‘ research center in Yongin, Gyeonggi Province (Hyundai Mobis)

Hyundai Mobis, an auto parts arm of Hyundai Motor Group, has been recognized for its continued efforts for sustainable corporate management.

The Seoul-based company on Dec. 4 was awarded with the Prime Minister’s prize for striving for inclusive growth across the ecosystem of the local auto parts industry.

In April, when the country was in the midst of the first wave of the COVID-19 outbreak, the firm offered a helping hand to its partners, endorsing a three-month rollover on receivables and providing other emergency support.

The country’s largest auto parts manufacturer has in normal times built a strong relation with its partner companies, pursuing synergy across the supply chain. It has opened patented technologies or officially transferred some to partners on nearly 200 occasions, the company said.

Nearly 20 billion won ($18.3 million) was spent to support the partners to develop new technologies and products. On nearly 2,300 occasions, the company opened up its lab and testing facilities for them.

With such efforts recognized, Hyundai Mobis saw its scores in Dow Jones Sustainability Index rise to 76 this year from 69 in 2019.

“Even before the ESG (environment, social responsibility and governance) arrived here, Hyundai Mobis set up a task force in 2009 and has been improving non-financial values of our company,” the company said in a press release. “Recent feats show our efforts of the past years are bearing fruits.”

Hyundai Mobis, which has published an annual corporate sustainability report since 2010, will continue such efforts to be a responsible corporate citizen, it said.

On the environmental front, the company aims to contribute to the coming era of electric and fuel cell electric vehicles by developing key auto components and reducing its own carbon footprint while doing so.

At all of its factories and labs here, as well as those of its suppliers, ozone-depleting chemicals are banned. It also limits greenhouse gas emissions to under 50 percent of the legally allowed levels.

(khnews@heraldcorp.com)

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