Hyundai Heavy Group sets up ESG committees under 5 affiliates
Posted : 2021-04-28 18:43
Hyundai Heavy Industries Ulsan shipyard / Courtesy of Hyundai Heavy Industries
Hyundai Heavy Industries group, the world s biggest shipbuilder by orders, said Wednesday that it has established environmental, social and governance (ESG) committees under its five affiliates to develop eco-friendly technologies.
The committees are meant to support environmental protection, social justice and ethical management practices.
The five affiliates are Hyundai Mipo Dockyard Co., Hyundai Construction Equipment Co., Hyundai Electric Energy Systems Co., Hyundai Heavy Industries Co. and Hyundai Samho Heavy Industries Co.
The other four affiliates ― Korea Shipbuilding Offshore Engineering Co., Hyundai Heavy Industries Holdings Co., Hyundai Oilbank Co., Hyundai Energy Solutions Co. ― will set up the ESG committee down the road, the group said.
Hyundai Heavy IPO plan faces feasibility doubts
Posted : 2021-02-01 16:21
By Nam Hyun-woo
The feasibility of the scheduled initial public offering (IPO) of Hyundai Heavy Industries is facing doubts as the plan may undermine the value of its parent firms.
Some concerns are already growing that the company s 5 trillion won ($4.48 billion) valuation of itself may have been overhyped, casting a gloomy outlook on the pricing process of its new shares.
Hyundai Heavy said earlier it will launch an IPO and raise 1 trillion won by selling the company s new shares accounting for 20 percent of the total to the bourse. The shipbuilder said it will invest the money for eco-friendly future businesses.