Win-Win Partnership in the Supply Chain
Hankook Tire aims for win-win business management solutions with its subcontractors based on transparent and fair cooperation that can give rise to sustainable growth and development.
Issue Background & Management Status
Efficient supply chain management and shared growth with suppliers are essential for long-term competitiveness and sustainable growth. As our global supply chain consists of diverse suppliers, Hankook Tire & Technology specifically recognizes the importance of fulfilling its social responsibility to pursue win-win partnerships with its suppliers. As the requirements of external stakeholders such as OE car makers for carbon reduction or neutrality have increased recently, the importance of supply chain management is increasing. To respond to this, we provide support for suppliers to strengthen their ESG competitiveness through the Supplier Committee, and are carrying out various activities such as improving the management of natural rubber supply chains.
Hankook Tire & Technology intends to carry out various ESG activities for the purpose of managing our supply chain of natural rubber, which accounts for the most important portion of raw materials for tires, while concentrating our efforts on improving ESG competitiveness of supply chain to reinforce ESG purchasing strategies. In the short term, we want to induce active participation in ESG evaluation of critical partners, expand secondary identification, and request ESG improvement through on-site audits of suppliers with high risk. In the mid- to long-term, we will make it mandatory to participate in ESG evaluations at the time of purchase contracts and strengthen audits. From the perspective of shared growth, we plan to award awards to partners who have provided excellent ideas through the partner company Idea Award and send out ethical management letters. In addition, by simplifying the contents of the pledge to practice ethical management in the form of a declaration, we plan to operate the ethical management obligation pledge process efficiently. For the purpose of natural rubber supply chain management, a sustainable natural rubber policy is announced, and ESG evaluation is conducted for natural rubber suppliers by reflecting the guidance of the Global Platform of Sustainable Natural Rubber (GPSNR). Activities to give back to natural rubber farms and local communities and SNR activities will be reported through ESG Report, etc.
• Committee Chairs : Head of the Purchasing Department
• Supervised by : Purchasing Planning Team
• Cooperation Team : Purchasing Team 1, Purchasing Team 2, ESG Team,
Raw Material Development Project,
Chemical Safety&Legal Regulation Project