SEOUL, Sept 15 (Reuters) - Samsung Electronics announced on Thursday it joined the RE100 initiative, a group of global corporations committed to 100% renewable energy in the future.
Excluding Samsung, 22 out of the 379 companies that have joined RE100 are South Korean, or 6%, according to Reuters' calculation from a list by the CDP, an environmental non-profit organisation that brings together companies seeking to join RE100.
All 22 have joined since 2020.
Here is a rundown of its South Korean compatriots' environmental targets and announced initiatives.
HYUNDAI MOTOR
Hyundai Motor Co, its sister company Kia Corp and auto parts affiliates Hyundai Mobis and Hyundai Wia joined RE100 in 2022.
While all four companies aim to transition to 100% renewable energy by 2050, each will make independent efforts to achieve targets ahead of schedule, by as early as 2040, depending on energy supply and demand conditions at their respective overseas operations, Hyundai said in a statement in April.
Hyundai Motor Group, South Korea's third-largest conglomerate, is considering various ways to procure renewable energy, such as self-production through solar panels and power purchase agreements (PPA) with wind and solar energy producers, it said.
LG ENERGY SOLUTION
Battery maker LG Energy Solution Ltd (LGES) joined RE100 in 2021.
It said in August that it plans to complete the conversion of global production facilities to 100% renewable energy by 2025, and is targeting turning all value chains -- from raw materials, such as mines, to battery production -- to net zero carbon emissions by 2050.
The South Korean firm, which supplies electric vehicle (EV) batteries to automakers including Tesla Inc, General Motors Co, Ford Motor Co and Volkswagen AG , said it is on track to raise its conversion rate to renewable energy to 60% or more by the end of this year, up from 33% in 2020.
"Batteries are a tool for sustainable life for mankind and a key industry in the future," LG Energy Solution CEO Kwon Young-soo said.
"LG Energy Solution will do its best to realise 'carbon negative', beyond carbon neutrality, throughout management."
Affiliate LG Innotek, maker of camera modules and other device components, joined RE100 in 2022.
SK GROUP
SK Group, South Korea's second-largest conglomerate, has been enthusiastic concerning environmental initiatives.
Seven SK affiliates joined RE100 in 2020 and 2021, including SK Hynix, SK Telecom, battery component developer SK IE Technology, holding company SK Inc , chip materials maker SK Materials, chip wafer maker SK Siltron and battery material maker SKC.
The world's second-largest memory chip maker SK Hynix is aiming to procure 33% of the energy needed for its global operations from renewables by 2030, and targets 100% renewable energy by 2050.
"The international community is strengthening environmental regulations," SK Group said in a statement in 2020.
"Countries like Korea that heavily rely on trade do not have any other options but to adopt low carbon emission and eco-friendly management of business such as the RE100 initiative in order to bolster the country's export competitiveness."
OTHERS
Other South Korean companies that have joined RE100 are Korea Zinc, telecom company KT, cosmetics firm Amorepacific, Incheon International Airport, KB Financial Group, Korea Water Resources Corporation, Mirae Asset Securities, tech firm Naver and Lotte Chilsung Beverage.
(Reporting by Joyce Lee and Heekyong Yang; Editing by Ana Nicolaci da Costa)
