SPC Group to focus on environmental, social and corporate governance
SPC Group Chairman Hur Young-in / Courtesy of SPC
By Kim Jae-heun
SPC Group Chairman Hur Young-in sent out a New Year message to his executives and staff members around the world this week, promising the company, which specializes in bread and confectionery products, will surpass the expectations of its customers and fulfill its social responsibility.
He suggested three important keywords to achieve his goal: brining the quality of SPC products to a higher level, innovating the corporate culture and pursuing environmental, social and corporate governance (ESG).
In his video message, Hur said the company has to expand its investment in research and development (R&D) to secure top-level technology while accelerating its digital transformation process.
To achieve this, he said that they need to prepare a “global R&D hub system” and a “mid-to long-term research technology roadmap” that can quickly apply global good culture trends.
The confectionery and bakery giant has expanded operations in overseas markets during the COVID-19 pandemic in countries like the United States, France, China and Singapore by increasing the presence of its biggest bakery franchise, Paris Baguette, there.
“SPC also needs to reform its corporate culture boldly. Let's create SPC's unique culture that can execute fast decision making,” Hur said.
The chairman believes this will help maximize the operational efficiency of the company's global business in seven countries, while ensuring stable growth in the domestic market.
Hur emphasized the importance of carrying out ESG as a company that is loved by customers and which contributes to society.
“We have our 'SPC Happy Win-Win Project' that seeks mutual growth with the local farmers. However, let's develop a breed that works well with our products and grow them together with our partner farms. This will improve our competitiveness in the market,” Hur said.
SPC Happy Win-Win Project is a mutual growth model that develops food materials using agricultural products grown by farms here.
Until now, SPC has signed a business agreement to collaborate with farmers of ginseng in Punggi, potatoes in Pyeongchang, carrots on Jeju Island, strawberries in Nonsan and onions in Muan.
The firm has promoted Punggi ginseng at 6,000 stores nationwide, raising consumers' interest for the product and promoting its herbal qualities. It plans to sell ginseng at SPC stores in the near future after gauging customer preferences.
Lastly, Hur asked all staff members to join in with his plan for eco-friendly activities such as carbon reduction and recycling as well as supporting the underprivileged.