Integrated Risk Management
Hankook Tire is maximizing its ability to respond proactively by building an integrated risk management system. By assessing and addressing the sources of potential danger, our desire is to ensure sustainable growth for our stakeholders and our communities.
Background of This Issue
As diverse natural disasters and safety accidents occur across the globe, businesses today are engaged in a wide array of activities to eliminate business-related risks. Furthermore, stakeholders are increasingly interested in how businesses respond and counteract to prevent such business risks.
Risks & Opportunities
If we can preemptively identify, manage and predict natural disasters, safety accidents and other business-related risks, this will then enable us to immediately respond to unexpected events and to ensure stability in our financial/non-financial business operations.
Hankook Tire’s Policy
In 2015, we established our own ‘crisis management system’ to address unexpected risks and we have implemented this as an organically-aligned integrated system based on the three functional pillars of risk management, emergency response and crisis management. As for risk management, we identify each and every risk that may pose threats to our business conduct and develop plans to manage such risks.
Management Responsibility & Governance
Risk Management System
• Risk Management: Corporate Strategy Team
• Emergency Response: Machinery Engineering Team 3, Infrastructure Operations Team
• Crisis Management: CSR Team
Compliance Committee [Legal Risk Part]
• Chaired by: Corporate Strategy Planning Division Director
• Supervised by: Legal Team
• Members: Audit Team, Purchasing Planning Team, Proactive University, CSR Team
Future Plans & Outlook
Building on the ‘crisis management system’ established in 2015, we aim to develop a sustainable risk management and monitoring system. We will also designate departments in charge of the respective risks that were identified so that these risks are monitored as part of our daily operations. If deemed necessary, such risks can be proposed as critical agenda items for our committees and will be managed accordingly. By identifying potential risks and continuously endeavoring to establish a risk response system, we will surely address any unexpected events in a flexible manner.