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Stakeholders comm.

We enhance the sustainability of our company through active
communication with our stakeholders.

“ SK considers maximizing the happiness of its stakeholders as its business value, which implies that all business activities have the ultimate aim of happiness. ”

Stakeholder Engagement Policy

Scope

ㆍThis stakeholder policy (“the Policy”) applies to SKI’s affiliates (all business divisions including overseas subsidiaries and local places of business*).
*SK innovation (SKI), SK energy, SK geo centric, SK lubricants, SK incheon petrochem, and SK trading international


ㆍThe Policy covers all stakeholders directly or indirectly communicating and interacting with the aforesaid companies.

Purpose

The purpose of the Policy is for SKI to collect comments from stakeholders, and to define a standard procedure reflecting such comments into its managerial decision-making.

Goal

SKI, through implementation of the Policy, shall obtain support and trust from external stakeholders, and enhance transparency and efficiency of its management through stakeholder engagement.

Engagement & Communication

  • Obligation to
    implement
    the Policy     All business divisions of SKI, in accordance with the Policy, shall endeavor to ensure there is harmony and balance between stakeholders, and consider both present and future happiness to secure the long-term sustainability thereof.
  • Definition of
    stakeholder     SKI’s stakeholder shall be defined as any organization or individual who can be affected by SKI’s managerial decision-making or affect SKI’s managerial decision-making.
  • Classification of
    stakeholder     SKI shall classify key stakeholders into 1) employees, 2) shareholders, 3) customers, 4) suppliers, and 5) local community stakeholders.
  • Prioritizing
    stakeholders     SKI’s stakeholders shall be prioritized by consideration of the degree of 1) impact on managerial decision-making, and 2) impact from SKI’s managerial decision-making. However, important stakeholders may be selected at each business site according to the nature and content of stakeholder-raised issues.
  • Channels of
    stakeholder
    engagement     Regular and emergency engagement channels for stakeholders shall operate as follows.
    Channels of stakeholder engagement table
    Engagement method Engagement activities
    Employees ㆍIntranet
    ㆍLabor union
    ㆍSurvey of employees     		The company shall ensure that employees can gain satisfaction and advance in their fields through work, and employees shall contribute to the respective company’s development.
    Shareholders ㆍAnnual shareholders meeting
    ㆍInvestor seminar
    ㆍConference call     		The company shall win customers’ trust by continuing to give them satisfaction, and ultimately advance hand-in-hand progress with the customers.
    Customers ㆍCompany homepage
    ㆍCustomer center
    ㆍSNS (Facebook, blog)     		The company shall win customers’ trust by continuing to give them satisfaction, and ultimately advance hand-in-hand progress with the customers.
    Suppliers ㆍShared-growth programs (e.g., CEO seminars, MBA practical training, technical seminars) The company, for the customers’ interest, shall cooperate with its suppliers.
    Local Community ㆍTalkfest or talking meeting
    ㆍ Residents council
    ㆍ NGOs     		The company shall not only contribute to economic development, but grow along with the community to create social values.
  • Strengthen
    stakeholders’
    capacity     The company shall make efforts to collect the ideas of stakeholders who lack the capacity or resources to present comments to SKI.
  • Internal sharing
    of results
    of stakeholder
    engagement     Stakeholder comments collected at each business site through stakeholder engagement activities shall be notified to headquarters at least once per quarter.
  • Stakeholder
    feedback     Regarding any comment directly presented by a stakeholder through the grievance resolution channel, its progress of handling and result shall be notified in writing or in person within one week, and if such notice is delayed, such fact shall be notified.
  • Stakeholder
    engagement
    performance     Stakeholder engagement results shall be reflected in the performance of stakeholder engagement personnel at the business site.
  • Education
    /training     The stakeholder engagement personnel at the business site shall receive education/training on the procedure of the policy at least once a year.
  • Performance indicators In connection with the execution of the policy, 1) stakeholder-raised issues confirmed through official channel, 2) number of raised issues handled, and 3) annual result of stakeholder investigations shall be managed as key performance indicators.

Risk Managing Process

“Searching for local-level solutions

If the relevant local department with initial contact of the problem decides that it is impossible to come up with solutions in terms of the issue’s urgency, importance, impact, and solution at the local level, the problem shall be transferred to the department at headquarters.

“Transfer to the department at headquarters

If it is deemed that the problem can be solved through the injection of additional R&C and delegation of authorities or that a response with a company-wide perspective is necessary, the department with company-wide responsibility for the matter shall directly solve the problem.

Engagement Framework

SKI actively endeavors to solve CSR issues by operating channels for stakeholders’ CSR grievances/complaints. SKI is working to fulfill its responsibilities as a corporate citizen, and position itself as a ‘beloved company’ through engagement of, and communication with, various stakeholders.

If you have any comments, encounter cases contradicting our social responsibility, or incur damages in connection with social responsibility we promise the stakeholders in our business, please send us your comments in the channel mentioned below. For comments and complaints received through such a channel, a solution process will be actively conducted through monitoring, due diligence, etc. by our relevant department, after checking the facts. Also, we assure you that identities of commenters and contents of the comments will be kept confidential.

Regarding the material, CSR issue-related cases received in the channels mentioned before, their content and handling process will be reported to the ‘CSR Committee’ under the board of directors (SKI’s top decision-making body), and actively reflected in management activities, so that similar cases will not occur in the future.

Based on stakeholders’ valued comments, SKI promises to continue making efforts for sustainable growth and development by fulfilling its social responsibility to the highest degree. Thank you very much.

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