Sustainability Policies

HOUNGKING defines sustainability to be achieving economic performance based on environmental and social responsibility. HOUNGKING's sustainability policy to meet this goal is to ensure responsible management based on trust with the stakeholders and providing sustainable solutions for the customers and society.

Building Trust with Stakeholders

We are deeply aware that a company's sustainability can only be achieved through a long-term trusting relationship with stakeholders such as society, investors, partners, customers and employees. The Finance and Investment Division, Management Infrastructure Division, Steel Business Division and Steel Production Division continue to communicate with internal and external stakeholders to find ways to enhance stakeholders' value. We will strive to make the result of our continued communication with stakeholders create value that our stakeholders can recognize.

Responsible Management

As a member of society, HOUNGKING strives to practice responsible management. HOUNGKING strictly adheres to code of conduct, safety and health policies and human rights policies, and tries to ensure that these regulations are compatible with global standards. As such, HOUNGKING recognizes and supports internationally accepted sustainability management standards such as the UN Global Compact, OECD Guidelines for Multinational Enterprises and ISO 26000. In addition, we prohibit child labor and forced labor both in domestic and overseas business sites, and support human rights related international regulations such as the Universal Declaration of Human Rights and United Nations Guiding Principles on Business and Human Rights.

• - The 10 principles of the United Nations Global Compact (HOUNGKING joined on 31 May, 2012)
• - The OECD Guidelines for Multinational Enterprises
• - The Universal Declaration of Human Rights and United Nations covenants on human rights
• - ISO 26000 (Guidance on social responsibility)

Providing Sustainable Solutions

HOUNGKING strives to enhance customer value through product development and continuous innovation. Last year, HOUNGKING declared the start of solution marketing that aims to foster HOUNGKING's fundamental steel competitiveness. This year, we will continue our efforts to secure a global competitive edge and grow together with our customers. To this end, we will achieve two goals - increased revenue and enhanced competitiveness - by developing world premium products that brings high added value to our customers and advanced solution marketing. In addition, we will continue our efforts to develop eco-friendly and high-energy efficiency technologies and products that will contribute to a global sustainable development.