COWAY Co., Ltd. Establishes an Environmental, Social, and Governance Committee
August 10, 2021 at 04:25 am EDT
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Coway Co., Ltd. announced the establishment of its Environmental, Social, and Governance ("ESG") committee under the Board of Directors. This new committee will be solely dedicated to ensuring the company's practices are in alignment with its sustainability vision of enhancing long-term corporate values and promoting strategic ESG management. Among the responsibilities of the ESG Committee will be supervising environmental, social, and corporate governance-related policies. The committee will also provide accountability to board members on carrying out strategic ESG initiatives. In addition to this, the ESG committee will be the head decision-making panel on ESG managerial policies, long-term sustainability goals, and responding to major risks and opportunities. The committee consists of Jangwon Seo, the co-CEO of Coway, and two independent directors, Jin-Bae Kim and Da-Woo Lee. Jin-Bae Kim will also chair the committee to ensure impartiality.
Coway Co Ltd, formerly Woongjin Coway Co Ltd, is a company principally engaged in the provision of water purifiers. The Company's products portfolio consists of water purifiers, air purifiers, electronic bidets, non-electronic bidets, water softeners, vacuum cleaners, water dispensers, food waste treatment solutions and sewage treatment solutions for household and business uses. Its water purifiers include free standing, counter top and under sink types. It also involves in the mattress rental and related home care services. The Company mainly provides its products through rental and lump sum payment to its customers. The Company distributes its products in domestic and overseas markets.