RISE OF ECO-FRIENDLY MANAGEMENT

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When releasing its new smartphone, Samsung Electronics announced plans to use parts made of discarded fishing nets, which pollute the marine environment. Other phone makers such as Apple are also emphasizing the importance of resource recycling. Eco-friendly management is now a decisive part of business competitiveness.

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Discarded fishing nets pose enormous threat to the marine environment. Samsung Electronics says it collected and utilized the disposed fishing nets in its new Galaxy S22 phones. They were used in making the button brackets and pen covers. The company plans to recycle 50 tons of fishing net waste this year to produce parts for various products.

[Soundbite] Choi Sung-eun(MX Marketing VP, Samsung Electronics)

Samsung's main competitor, Apple even publishes reports about its product components made from recycled materials. Most of the rare earth materials and gold used in iPhones are recycled materials. Hyundai Motor also uses discarded plastic bottles and low-carbon bio substances to produce sheets and interior materials for its Ioniq 5 and Nexo models. Corporations are increasingly emphasizing eco-friendly management because environmental, social and corporate (ESG) governance serves as a crucial factor in attracting investment. But in reality, some companies disguise environmental hazards as eco-friendly in their exaggerated advertisements.

[Soundbite] Oh Dong-jae(Solutions For Our Climate) : "We can avoid disagreements on Greenwashing by introducing consistent criteria on calculating greenhouse gas reductions by businesses."

Many say it's important for businesses to disclose accurate data on their actual carbon reduction efforts.