LOTTE Chemical-Samsung Fire & Marine Insurance signed an MOU for ‘Risk Control Partnership for Prevention of Critical Accidents.’

 

 

■ LOTTE Chemical executes ESG safety management with Samsung Fire & Marine Insurance to pursue social value.
■ “The MOU will trigger both companies’ ESG management,” said Yeon Sup Kim, the head of LOTTE Chemical’ ESG Management Headquarters. “Ongoing partnership of the two companies with the highest level of expertise and influence in the industry is expected to generate social value.”
■ “ESG management is the international norm beyond the mega trend of industry,” said Moon Hwa Lee, the head of Samsung Fire & Marine Insurance’s General Insurance Headquarters. “It is expected to be an exemplary case of ESG partnership for the chemical and insurance industries in terms of risk management.”
 

LOTTE Chemical signed an MOU for “Risk Control Partnership for Prevention of Critical Accidents” with Samsung Fire & Marine Insurance on the 6th.

At the ceremony that took place at LOTTE World Tower Jamsil, Yeon Sup Kim, the head of LOTTE Chemical’ ESG Management Headquarters gathered with Moon Hwa Lee, the head of Samsung Fire & Marine Insurances’ General Insurance Headquarters. Both companies agreed to employ their fullest capacities to execute ESG safety management to generate social value.

Through the MOU LOTTE Chemical and Samsung Fire & Marine Insurance are planning to ▲ diagnose risks of worksites and partners and provide consultation for accident prevention, ▲ share expertise and accident prevention knowhow for ESG safety management, and ▲ cooperate for seminars and social contribution campaigns.

LOTTE Chemical will learn from Samsung Fire & Marine Insurance’s expertise and knowhow to diagnose the fire and electrical safety and natural disaster (flood, earthquake) risks of Yeosu, Daesan, and Ulsan Factories. They are planning to make active investment for safety based on the results for substantial safety of worksites to secure the safety of employees and officers.

Also, both companies will support safety diagnosis of partners and share performance to discuss the results of diagnosis and spread the outcomes of ESG safety management. LOTTE Chemical will constantly expand support to help partners secure safety for sustainable business.

“For successful realization of ESG management, it is necessary for companies to share various knowhows and seek innovative ways through cooperation,” said Yeon Sup Kim, the head of LOTTE Chemical’ ESG Management Headquarters. “The MOU with Samsung Fire & Marine Insurance will trigger both companies’ ESG management and ongoing partnership of the two companies with the highest level of expertise and influence in the industry is expected to generate social value."

Samsung Fire & Marine Insurance will share the safety control knowhow of LOTTE Chemical to improve the risk control expertise of chemical industry. By doing so, they will support the companies’ ESG safety management to prevent accidents and stabilize damage rate in the long run.

“ESG management is the international norm beyond the mega trend of industry,” said Moon Hwa Lee, the head of Samsung Fire & Marine Insurance’s General Insurance Headquarters. “It is expected to be an exemplary case of ESG partnership for the chemical and insurance industries in terms of risk management.”

In addition, LOTTE Chemical announced the ‘Four Major Safety Environment Enhancement Measures’ to ▲ expand investment in safety environment, ▲ reinforce workforce, ▲ improve systems, and ▲ improve internal capacities last January and declared the ‘Innovative Measures for the Group’s Safety Management’ at the VCM (Value Creation Meeting) that held on the 1st to reinforce major industrial accident prevention activities and stress improvement of initial response capacities. LOTTE Chemical is planning to improve the safety control systems and manuals based on the innovation measures, diagnose the risk factors suitable for each worksite, and further reinforce safety support for partners.