Sustainability
Part 1. Framework Background of Establishment of Framework and Purpose
Part 2. Principles of Local Community Engagement
Prior engagement | A pledge to provide local communities or key stakeholders with information at the early stages of project development and to enable local communities to influence decision-making and strategy planning |
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Transparent information disclosure | Communication with local communities in which relevant information and data are provided to ensure transparency and effective consultation |
Inclusive engagement | Providing opportunities to all people for consultation on relevant issues in addition to the entire local community and key stakeholders |
Selection and execution of proper engagement methods | Communication with local communities in which relevant information and data are provided to ensure transparency and effective consultation |
Inclusivity of Information | Efforts by the company to consider all kinds of information before making a decision that can impact a local community and to provide honest feedback |
Period of local community engagement | The period during which a local community, its residents or their way of life could be impacted |
Part 3. Local Community Engagement Framework
Providing information | Providing objective information to help local communities understand the issues, measures or solutions proposed |
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Collecting opinions | Procedures to collect opinions from local communities regarding decisions made by the company |
Engagement activities | Engaging with local communities to identify its members’ opinions on major issues directly |
Cooperation | Including cooperation with the local community in each aspect of decision-making, such as the development of alternatives and the identification of preferred solutions |
Authorization | Giving local communities authority to make decisions directly in the final decision-making process |
Part 4. Communication Channels for Major Stakeholders in Local Communities
Major Stakeholders | Definition | Point of contact | Communication channel | Major issue | Communication cycle |
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Customer companies | The basis for the creation of economic and corporate value | Blast Furnace Business Division, Electric Furnace Business Division, AP Steel Pipe Business Division, Business Management Division, Innovation Strategy Division | Department meetings, technology seminars, customer satisfaction surveys, customer portal sites, websites, newsletters | Expanding customer communication, Enhancing customer satisfaction Protecting information | frequently |
Employees | Key members for sustainable growth | Business Management Division, Innovation Strategy Division | Intranet, GWP, Future Board, education programs, labor-management cooperation | Encouraging communication among employees and departments, Strengthening employee capabilities, Work-life balance | frequently |
Suppliers | Partner cooperation for win-win growth based on stability | Business Management Division, Procurement & Logistics Division, Major business sites(domestic/overseas) | growth agreements, meetings, procurement system, technology exchange meetings, websites, newsletters | Operating fair supply chain management process, Advancing activities to support win-win growth, Establishing a win-win growth culture | quarterly, frequently |
Shareholders and investors | Providing financial capital as a source of corporate management | Financial Management Division | General shareholders' meetings, performance presentations, NDRs and conferences, 1:1 meetings, visits to worksites, public announcement materials | Enhancing value of Hyundai Steel, Securing new growth engines | quarterly, frequently |
Local communities | Local communities and their members interacting through business operations | Business Management Division, Major domestic and overseas worksites | Major social contribution cooperatives, feedback discussions on CSR activities, webpage, integrated reports | Engaging in communication with stakeholders, Supporting socially disadvantaged and vulnerable people, Performing continuous social contribution activities | quarterly, before and after social contribution activities |
NGOs, government and media | Proposals for the company's direction | All domestic and overseas worksites | Worksite visits, press releases | Responding to and participating in government policy, Making transparent business announcements, Creating jobs | frequently |