Hankook Tire’s materiality analysis is performed once a year based on stakeholder interest and business impact. The results are proactively addressed and reported back to our stakeholders and our management.
We identify material issues to be intensively managed in consideration of stakeholder interest and business significance and report our activities and performances in managing them. Those issues which are recognized to be relatively more important are strictly managed through the form of CSR Steering Wheel.
Materiality Analysis Process
STEP 1: Collecting Relevant Issues
The GRI1) Standard, DJSI2), RBA3), and SDGs which are global CSR frameworks were used for collecting our CSR issues. Media research, benchmarking of advanced companies, and analysis of in-company policies were conducted to reset the scope and redefine issues. And then, we formed an issue pool consisting of 25 material issues in 10 categories based on the results of internal and external environment analysis.
STEP 2: Identifying the Level of Interest and Significance
We investigated the level of stakeholder interest and business significance about 25 identified issues in 10 categories. Surveys were conducted to check the level of stakeholder interest. We also reviewed our internal corporate policies and norms & regulations while analyzing media articles and benchmarking global companies and industry peers to identify the level of business significance.
STEP 3: Prioritizing Identified Issues
We prioritized the above issues in line with the level of stakeholder interest and business significance. As a result, “reinforce R&D capability and expand investment,” “achieve excellent operating performance and expand employment,” and “manage and prevent safety accidents” were defined as the most material issues. The top 10 issues were reported in more detailed and transparent manner through this report.