Dongkook Lifescience, Veolia team up for energy efficiency initiatives

Dongkook Lifescience Co., established through a spin-off from Dongkook Pharmaceutical Co. in May 2017, announced on Tuesday that it has entered into an agreement with Veolia Environnement SA, a multinational environmental management services company headquartered in France, for the promotion of energy efficiency initiatives.

The agreement, signed on Aug. 23, is aimed at propelling Dongkook Lifescience's new leap through sustainable business practices. Both companies plan to lay the foundation for environmental management, including the recovery of waste heat from Dongkook Lifescience's production facility in Anseong, utility optimization, energy conservation and the introduction of green electricity generation.

Starting from the second half of this year, investments will be made to establish energy and greenhouse gas reduction systems, with plans to respond to market trends such as rising energy costs by the first half of next year. The anticipated outcomes include a 19% reduction in energy consumption and an 11% reduction in greenhouse gas emissions.

"Amid increasing global interest in ESG, we are focusing on building sector-specific ESG management systems encompassing environmental, social and governance aspects for the sake of future generations," CEO of Dongkook Lifescience Park Jae-Won said. "We will continue to collaborate with Veolia to sustain ESG practices, including waste recycling and resource utilization, for eco-friendly management."

Write to Ye-Na Kim at yena@hankyung.com