Korea’s leading electronic component manufacturing company, LG Innotek, announced on July 5 that it officially joins the global "RE100" initiative. Their goal is to use only renewable energy including domestic and overseas establishments by 2030.
RE100, standing for "Renewable Electricity 100%," is a global initiative in which member companies are committed to go 100% renewable electricity by 2050.
To achieve the RE100 goal, LG Innotek has already adopted various energy-saving strategies including utilize high-efficiency facilities and recycling waste heat that is generated during the production process. The company also announced in last February through its ESG committee that it would become carbon-neutral by 2040.
Further, LG Innotek will also pay extra fee to the Korea Electric Power Corp. (KEPCO), through a Green Premium system to receive electricity produced with renewable energy. It plans to receive 192 GWh, accounting for one-third of the annual electricity consumption of its domestic business this year.
LG Innotek CEO Jeong Cheol-dong said that joining RE100 makes LG Innotek become an eco-friendly leader in the local industry. It will also make a company-wide effort to create a sustainable future by making environmental, social, and corporate governance (ESG) management sound.