We have expanded the list of climate policies we assess company engagement with to incorporate land-use related policy, referring to legislative or regulatory measures to enhance and protect ecosystems and land where carbon is being stored. Assessments under this category are currently underweighted in terms of their contribution to the overall company metrics. This weighting will be progressively increased over the next 6 months.
We adjusted the terminology used to describe the queries running down the left-hand side of our scoring matrix and added additional explanatory text to the info-boxes. This has no impact on the scores and methodology. It has been done following user feedback to improve clarity.
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Kwak Noh-jung, co-CEO of SK Hynix, is the Chairman of the Korea Semiconductor Industry Association (KSIA Website, last accessed August 2022)
Kwak Noh-jung (곽노정)
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InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Kwak Noh-jung, co-CEO of SK Hynix, is the Chairman of the Korea Semiconductor Industry Association (KSIA Website, last accessed August 2022)
Kwak Noh-jung (곽노정)
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Kim Hyung-soo, the Vice President of SK Hynix, sit on the Environment and Climate Change Committee at KCCI (KCCI Website, last accessed August 2022)
Kim Hyung-soo (김형수)
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InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
Kim Hyung-soo, the Vice President of SK Hynix, sit on the Environment and Climate Change Committee at KCCI (KCCI Website, last accessed August 2022)
Kim Hyung-soo (김형수)
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InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
SK Hynix is a direct member of KBCSD. (KBCSD website, last accessed August 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
SK Hynix is a direct member of KBCSD. (KBCSD website, last accessed August 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
SK Hynix is a direct member of the Korea Enterprises Federation (SK Hynix 2022 Sustainability Report, last accessed August 2022)
not specified
--no extract--
InfluenceMap Data Point on Corporate - Influencer Relationship
(1 = weak, 10 = strong)
SK Hynix is a direct member of the Korea Enterprises Federation (SK Hynix 2022 Sustainability Report, last accessed August 2022)
not specified
--no extract--
In this section, we depict graphically the relationships the corporation has with trade associations, federations, advocacy groups and other third parties who may be acting on their behalf to influence climate change policy. Each of the columns above represents one relationship the corporation appears to have with such a third party. In these columns, the top, dark section represents the strength of the relationship the corporation has with the influencer. For example if a corporation's senior executive also held a key role in the trade association, we would deem this to be a strong relationship and it would be on the far left of the chart above, with the weaker ones to the right. Click on these grey shaded upper sections for details of these relationships. The middle section contains a link to the organization score details of the influencer concerned, so you can see the details of its climate change policy influence. Click on the middle sections for for details of the trade associations. The lower section contains the organization score of that influencer, the lower the more negatively it is influencing climate policy.
Open PDF file of Data Source
Climate Policy Engagement Overview: SK Hynix appears to have limited engagement with climate change policy in South Korea. The company appears to engage positively on renewable energy policy in South Korea, but takes a mixture of positive and negative positions on the transition of the energy mix away from fossil fuels.
Top-line Messaging on Climate Policy: SK Hynix has broadly supported the need for climate action and GHG emissions reductions. A March 2021 Joint Statement signed by SK hynix committed to achieving carbon neutrality in the semiconductor and display industry sectors by 2050, in order to contribute to the economy-wide 2050 carbon neutrality target. On its corporate website, SK hynix stated that it would provide “full cooperation” with the government to “contribute to the transition to becoming a low carbon economy”.
Engagement with Climate-Related Regulations: SK hynix. appears to have limited engagement with climate change regulations in South Korea, but has taken broadly positive positions on the need for renewable energy policy in the country. In October 2021, SK hynix attended a meeting with the Vice Minister of Trade, Industry and Energy (MOTIE) along with other industry representatives, and requested government support for improved implementation of Power Purchase Agreement (PPA) contracts. In March 2021, SK hynix joined the inaugural meeting of the ‘Semiconductor/Display Carbon Neutrality Committee’ with MOTIE, during which industry attendees requested “expanded incentives” for increased renewable energy use. In its 2021 CDP climate change response, SK Inc. disclosed that it supported the Korea emissions trading scheme (K-ETS) with minor exceptions around the guideline allocations for the semiconductor industry.
Positioning on Energy Transition: SK hynix shows high-level support for the transition of the energy mix away from fossil fuels, but has also supported the continued use of unabated LNG in the energy mix over renewables. As part of the Semiconductor/Display Carbon Neutral Committee in March 2021, SK hynix supported increased tax credits and R&D support for carbon neutral facilities and technology developments. However, Business Post reported in August 2021 that SK hynix supported building a new LNG power plant in Cheongju, South Korea, stating the “limit to diversifying power procurement with only renewable energy” and adding that “the emergent alternative is LNG power plants”. In October 2021, Yonhap News reported that SK hynix did not fully support the transition to a renewables-centred energy mix, with a company representative stating that renewable energy “is greatly affected by the climate, resulting in low power generation efficiency.”
Industry Association Governance: SK hynix has disclosed its membership in some industry associations in its 2022 Sustainability Report, published in August 2022. However, it provided no further details of the company's role within each organization's governing bodies nor influence over their climate change policy positions. SK hynix did not disclose or assess its relationship with other associations such as the Korea Chamber of Commerce and Industry (KCCI). SK Inc Chairman Chey Tae-won is the Chairman of the KCCI, which has actively and negatively engaged on a range of Korean climate policy including the 2030 GHG emissions reduction target, the Korea emissions trading scheme, and carbon tax and pricing mechanisms.