Sungshin Cement Co., Ltd.

Participation in and contribution to local communities

Sungshin Cement has established the strategic concept of “Sungshin Cement Social Contribution House” to return the trust and belief from customers and local communities to society and promote coexisting with the local communities. We continuously and actively sympathize with the issues of local communities and share the profits generated from our business activities with the local communities to promote coexisting with them. We ultimately aim to grow together with local communities based on the core values of empathy, sharing, and coexistence.

Sungshin Cement Social Contribution House

Empathy
Sharing
Coexistence

Sungshin growing together
with the local community

Social contribution management organization

Sungshin Cement has formed a dedicated organization for closer communication with residents residing in the areas where our management activities are being carried out, and, furthermore, we continue to participate in community events, councils, etc. Our General Affairs Team is dedicated to issues regarding participation in and development of communities, and our Management Team provides cooperation and support accordingly.

Sungshin Cement Neighborhood Sharing Group: Sungshin Cement is carrying out various volunteer activities through exchanges with local communities and related organizations, and, in particular, the 'Sungshin Cement Neighborhood Sharing Group' received a volunteer group logo (symbolic mark) from the Jongno-gu Office, which has jurisdiction over the area where our head office is located, through a program that produces BIs for volunteer groups that serve as models for others in Jongno-gu.

Major social contribution programs

Community volunteer activities
- Participation in volunteer activities in rural communities and purchase of local agricultural products
- Natural purification activities through the ‘Environment Day’ event
- Disaster recovery support
- Other volunteer activities
Donation
- Employee donation activity ‘Collecting penny’
- Other donation activities
Promotion of education/sports
- Establishment of a school corporation (Sungshin Academy)
- Operation of the wrestling team

Social contribution activities and achievements

Sungshin Cement is working with local communities to contribute to their economic development and fulfill our corporate social responsibilities.

In particular, we donated a scholarship fund of KRW 1 billion to the ‘Danyang Scholarship Association’ to foster local talents in Danyang-gun, Chungcheongbuk-do where our manufacturing factory is located. In addition, we are sponsoring various cultural events, such as 'Sobaeksan Royal Azalea Festival', 'Ondal Cultural Festival', etc., for the development of the tourism industry in Danyang-gun every year while sponsoring the local schools and educational facilities for young people on a regular basis.

In addition, we signed an autonomous agreement with the ‘Maepo Regional Association’ and have donated a total of KRW 2 billion for the regional development fund, KRW 200 million every year for 10 years since 2013.

We are participating in the ‘Coexistence Development Council’ to discuss measures for regional development with Danyang-gun, and we are working hard to activate the local economy by promoting sales of local agricultural products, purchasing Danyang love gift certificates, hiring local residents, etc. We also continue to try to come up with solutions for developing tourism resources and promoting the welfare of the local community with Danyang-gun.

Our social contribution activities are gradually expanding not only to Danyang-gun but also to Seoul where our head office is located and to other regions where our business sites are located.

Social contribution management organization

Participation in volunteer activities in rural communities and purchase of local agricultural products: Sungshin Cement participates in volunteer activities in villages near our manufacturing factory whenever garlic is harvested each year in Danyang-gun, Chungcheongbuk-do, where the factory is located, to help local farmers during the busy farming season.

These activities become an opportunity for Sungshin Cement employees to purchase the local specialties of merchantable quality while contributing to the increase in local farm household income and promoting the local specialties to the outside world. In addition to the garlics, we purchase more than KRW 100 million of other local specialties, such as apples, watermelons, etc., produced in Danyang-gun every year to contribute to the development of the local economy as its representative local company.

Natural purification activities through the ‘Environment Day’ event: In order to completely prevent damage to the environment, we are fundamentally blocking the inflow of wastewater and industrial water from our manufacturing factory into nearby rivers.

In addition, we are actively participating in nature purification activities through the ‘Environment Day’ event once a month. And, we reward excellent departments and employees at the end of the year to encourage employees to actively participate in that event.

Disaster recovery assistance: Natural disasters, such as typhoons, etc., cause great damage to local residents. Sungshin Cement actively supports the restoration of damage when natural disasters occur in order to share the pain with them. We are commiting our heavy equipment resources to recover from flood damage such as typhoons, etc. We are doing our best to prevent damage from drought by providing support for water every summer. In addition, we are committed to assisting damaged farms through the involvement of our employees in such disaster recovery activities.

Other volunteer activities: Sungshin Cement is carrying out various volunteer activities by sharing with our neighbors. In particular, we aim to do volunteer activities on a regular basis.

To this end, we continue to work hard to provide benefits to communities and neighbors by creating special programs each year. We mainly carry out cooperative activities with local volunteer organizations in Jongno-gu, where our head office is located. We have been participating in the Eumseong Kkottongnae Pumba Festival for the homeless at Seoul Station every year since 2014 through our association with Seoul Kkottongnae. In addition, we regularly carry out various volunteer activities, such as providing free meals to the Seoul Senior Welfare Center, picnic activities with ‘Deokyurin’, a short-term residential facility for the disabled, donation activities to ‘Aeranwon’, a shelter for single mothers, supporting Korean language classes for multi-cultural families in Vietnam, etc.

Donation activities

Employees’ donation activity 'Collecting Coins': Employees of Sungshin Cement have been conducting their own fundraising activity, ‘Collecting Coins’, since 2010. They voluntarily raise the balance of less than KRW 10,000 from their salary to deliver donations to various social organizations, including welfare facilities for the disabled in Danyang, Seoul National University Children's Hospital, Seoul Kkottongnae, Deogyurin, a facility for the disabled, Korea-Vietnam Cultural Exchange Center (an educational institution for multi-cultural families from Vietnam), etc., every year.

In addition, we purchase local agricultural products and deliver them to social welfare facilities to help farmers in Danyang-gun every year. Furthermore, we purchased Danyang garlics in 2017 and Danyang apples in 2018 to deliver them to seven organizations, including the Jongno Welfare Center for the Disabled, and to low-income families in Jongno-gu, respectively.

In 2019, we purchased aronias, a local specialty in Danyang-gun, and donated them to a facility for single mothers. And, Danyang Factory purchases blankets and donates them to underprivileged families for heating in Danyang-gun every winter.

Other donation activities: Sungshin Cement donated KRW 50 million and quarantine items, such as facial masks, etc., worth KRW 10 million to Danyang-gun to overcome the difficulties faced by the local community due to the outbreak of COVID-19 in 2020.

In addition, we donated dehumidifiers worth KRW 30 million to help sufferers affected by flood damage from torrential rain in Danyang-gun last summer.

Moreover, Sungshin Cement continues to carry out various activities to share with neighbors and protect the environment, such as participating in environmental campaigns like ‘reducing the use of disposable plastics’, etc.

Cultivation of talents and promotion of sports

Establishment of the educational foundation ‘Sungshin Academy’: The late founder and former chairman Kim Sang-soo established ‘Sungshin Academy’ and opened ‘Sungshin High School’ in Ulsan in 1988 to nurture talents who will lead the future of the country.

Sungshin High School, which has become a prestigious one in the region since its opening, is contributing to the development of education in the community while actively cultivating talents.

Operation of the 'Sungshin Wrestling Team' as a sports promotion project: Sungshin Cement is running our own wrestling team to ‘return our corporate profits to society’. The wrestling team has contributed to the domestic sports development by producing many excellent players since its foundation in 1983. Since its foundation, it has been in the forefront of elevating the nation’s reputation by achieving excellent results in various domestic and international competitions, such as winning one gold medal, two silver medals, and one bronze medal at the 1986 Asian Games (Seoul) and Seoul 1988 Olympic Games.

We actively support our athletes so they can devote themselves to the sports wrestling. Sungshin VINA, our Vietnam Division, established a wrestling team in Hanoi, Vietnam in December 2016. We not only support the development of elite sports in Vietnam, but also contribute to the activation of private exchanges in the cultural and sports worlds.

Sustainability Management

Society