South Korean direct selling company Coway, which specializes in home appliance rentals, was honored by the Business Integrity Society at its BIS Summit 2021 Anti-Corruption Awards. The award ceremony was held by the UN Global Compact and the Korea Social Responsible Investment Forum at the Four Seasons hotel in Seoul.
Coway was chosen as an “Excellent Anti-Corruption Company” and recognized for its “continuous commitment to a framework for environmental, social and governance, or ESG, standards as well as corporate transparency.”
“We have been selected as an excellent anti-corruption company in recognition of our efforts to improve corporate transparency and risk management based on ESG,” said Lee Hae-sun, CEO of Coway. “We will continue to strive to strengthen our sustainable business system by actively fulfilling our responsibilities to our stakeholders.”
Coway’s commitment to corporate social responsibility includes its Safe Ground Water Project, which provides water purifiers to rural areas with contaminated water. The company also unveiled plans to reduce its greenhouse gas emissions by 50% by the year 2030. By 2050, the company plans to be fully carbon neutral by 2050 and rely 100% on renewable energy.