Hanmi Pharm has been Selected as the No. 1 Company for ‘Corporate Sustainability Management’ in the Pharmaceutical Industry


Hanmi Pharm has been evaluated to be carrying out the best corporate sustainability management among the domestic pharmaceutical companies.

Hanmi Pharm announced on the 16th that it was selected as the No. 1 company in the pharmaceutical industry and ranked No.6 company in the overall category in the ‘Korean Sustainability Index (KSI) 2020’ by the Korean Standards Association.

The Korean Sustainability Index (KSI) is a model that measures corporate sustainability based on the international standard for social responsibility, 'ISO26000'. It is an index that evaluates the improvement and management of corporate management activities that affect society, along with a relative evaluation within the same industry in 80 important criteria, such as consumer, environment, and future values.

The deliberation committee, composed of 9 experts selected from academia, civic groups, and public sectors, conducted a review for the past 10 months for 201 companies and institutions in 47 industries, including pharmaceuticals, steel, and trading, selected in consideration of sales figures.

KSI evaluates and indexes the current status of the company in the ‘trend section (issues between stakeholders)’ and the ‘impact section (7 core themes of ISO26000)’ which divide the company’s sustainability into 40 criteria each.

Regarding the result of the evaluation, Hanmi Pharm’s sustainability score was 59.65, which was the highest in the pharmaceutical industry and the 6th highest in the overall category. The average score of the pharmaceutical industry was 56.05, and the average of the overall category was 52.99.

Hanmi Pharm received excellent evaluations for mutual growth with partners, including local communities, customer satisfaction, and sustainable management. In particular, the company received remarkable evaluations in the ‘Mutual Growth with Customers and Partners’ in the trend section, and ‘Consumer Response and Community Development’ in the impact section.

In addition, Hanmi Pharm was highly praised for its continuous efforts for patients suffering from diseases, such as having the proportion of self-developed specialty medicine through R&D as 90% of the total sales and investing about KRW 200 billion in R&D for the development of innovative new medicines, as well as for its steady investment activities that are the foundation for sustainable growth.

Hanmi Pharm also received an integrated ‘A’ grade from the ESG, an index that evaluates the level of the corporate sustainability management system in the non-financial sector, by the Korea Corporate Governance Service (KCGS).

CEO Jongsoo Woo of Hanmi Pharm said that, "Hanmi Pharm has been creating innovation by steadily pioneering business models that Hanmi Pharm can contribute to future human lives, rather than focusing on short-term performance since the establishment”. He also mentioned that he will "continue to carry out all management activities with a sense of responsibility so that Hanmi Pharm can continue to be a model company of corporate sustainability management in the future”.

Source: Financial News