SOLUM Begins its Journey into ESG Management, Paving the Way for a Sustainable Future

March 26, 2024, Korea – SOLUM, led by CEO Jeon Seong-ho, has taken its first step into ESG (Environmental, Social, Governance) management.

On the 26th, along with its shareholders' meeting, SOLUM held a declaration ceremony for ESG management, proclaiming a vision of "Creating Solutions for Sustainable Tomorrow." 
Additionally, SOLUM presented seven goals to achieve its ESG management vision, including:  

• Operating eco-friendly facilities equipped with renewable energy while enhancing energy efficiency, 
• Developing eco-friendly products through low-power production and safe material management, and:
• Improving employee working environments to foster a positive corporate culture. 

Based on these objectives, SOLUM derived specific action items and targets for each ESG goals in order to provide customers with products and services that contribute to enhancing social values. 

Preceding the declaration ceremony, SOLUM established a dedicated ESG team last year and officially launched an "ESG Committee" under the board of directors on the 7th of this month, with plans to publish a "Sustainability Report" in the latter half of this year.

During the ceremony, CEO Jeon Seong-ho emphasized, "ESG management is the foundation on which companies can firmly establish themselves in society and lead future growth." He further stated, "This year marks the inception of ESG management, and we will systematically expand our ESG activities to grow into a company trusted by stakeholders." Prospects suggest that SOLUM's eco-friendly initiatives will gain momentum. The company has long strengthened its eco-friendly product line. 

The new Mexico plant, which started operating earlier this year, is expected to primarily produce eco-friendly or GREEN products such as power modules for electric vehicle chargers and smart streetlights.

A SOLUM official stated, "We will refine our product portfolio and operate our productions by improving energy saving and greenhouse gas emissions reductions, thereby, allowing customers to contribute to the environment simply by using our products." 
 

Dear Respected Stakeholders,

We extend our deepest gratitude for your unwavering support and encouragement toward Solum.

This year marks the 9th anniversary of our establishment at Solum. Looking back, it has been a journey of constant challenges, transformations, and innovations. Through our commitment to delivering superior products and faster services, we have leaped forward as a global provider of electronic components and smart solutions, leading the industry's growth.

Now, as we look toward a sustainable future, Solum declares 2024 as the inaugural year of ESG management. To this end, we have established a vision and a long-term goal embodying our core values, along with the creation of an ESG Committee under the board of directors. We will commit to ESG management by pursuing the three key goals, ensuring that Solum's ESG vision makes real change, helping our customers and their customers achieve the world-wide goal of green transition and enhancing social value.[S1] 

First, we will enhance our portfolio of eco-friendly and green products and strive for greenhouse gas reduction.

Carbon neutrality has become a social imperative. We will expand the production of eco-friendly and green products that significantly enhance energy savings and high efficiency, such as ESLs featuring solar panels for effective carbon emission reduction. Additionally, we will support energy savings in everyday life through the advancement of electric vehicle charging businesses and the expansion of home ESS product lines. Moreover, we will invest in energy efficiency improvements in our production processes and embark on a substantial transition to renewable energy, including the expansion of solar facilities.

Second, by building a happy and healthy corporate culture, we will lead in social contributions and shared growth.

Solum, which has always aspired to create a joyful and healthy workplace for all our members, will continue to do its utmost to enhance the human rights and quality of life of our employees. Furthermore, we will engage in various social contribution activities that contribute to the development of local communities, and carry out our duty of corporate social responsibility. Additionally, we will practice shared growth by establishing clear guidelines for our suppliers to take part in managing ESG risks while exploring new opportunities for green transition.

Third, we will internalize ESG through a trustful, integrity management and transparently disclose our ESG performance.

We will not only passively comply with laws and corporate ethics, but also proactively advance integrity management. As employee shareholders, all members of Solum will thoroughly comply with relevant regulations in all aspects of management and operations and internalize ESG by having our ESG Committee and the ESG Council work closely together. Furthermore, we will transparently disclose our ESG performance and progress.

ESG management is not only the foundation upon which companies can firmly establish themselves in society but also the future driving force for leading industries. We earnestly ask for your continuous encouragement and support as Solum endeavors to realize the vision of "Creating Solutions for Sustainable Tomorrow."

Thank you.