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 27 material issues in 11 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 27 identified issues in 11 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 27 issues reflecting the results in Step 2. Higher priority was given to topics including: achieving outstanding business performance and increasing employment; strengthening R&D capacity and promoting investment; and developing products and services considering customer health and safety. In CSR report 2018/19,
our performance and targets regarding ten key issues are described in a transparent manner.