Part of the key theme to ESG, a drive to improve the environmental, social, and governance aspects of business, includes building a positive work environment where all can thrive and succeed. When a company invests in the well-being of its employees, their families, and the communities it affects, the drive to success increases tenfold. Employees become invested in the well-being of their company, creating a positive eco-system that benefits the company, its investors, and its partners. 

Samsung Biologics understood that in order to thrive throughout the pandemic, it had to create a caring environment for the minds that drove the company forward. Many partnerships and initiatives were put into place to make a better world for its employees, associates, clients, and the patients who relied on Samsung Biologics to provide them with quality medications, treatments, and vaccines. 

Samsung Biologics CEO John Rim said in the company’s first annual ESG report, “Samsung Biologics has a mission  to create a better world with high-quality biopharmaceuticals by creating a global logistics supply chain and expanded social responsibilities as a global company, while building a basis for sustainability.” 

The future of any industry lies in fostering young talent and encouraging it to join a company. Samsung Biologics has put in place many other initiatives to keep attracting and educating future prospects in order to maintain the company’s quality of work, aim for expansion, and passion for excellence. 

Job Creation and Focus on Education

Samsung Biologics recently announced that it was investing in its own company for future growth and development. Samsung, the parent company to Samsung Biologics, planned to invest 240 trillion won, or $205 billion, in all of its companies, including Samsung Biologics. The push includes adding 40,000 jobs to the Samsung Group’s affiliates  and looks to create at least 560,000 jobs through investment and production. 

With every expansion made by Samsung Biologics comes a need for new jobs and an economic boost to certain communities. At a J.P. Morgan healthcare conference, CEO John Rim outlined his plans to expand the company into major U.S. cities, parts of Europe, and eventually in other parts of Asia. 

“Our next decade will be marked by increased business expansion and portfolio diversification. While continuing to achieve best-in-class CDMO services and become a champion in the biosimilars business, we will also lay the groundwork for novel drug development, to ultimately become a full-service biopharmaceutical company,” he said. “The strategic investments and portfolio diversification outlined today signify the momentum in our business, as well as lay the foundation for the long-term growth opportunity ahead of us. We will look beyond the next decade and evolve as the global top-tier biopharmaceutical company by securing future growth engines with continued investment and expansion in capacity, portfolio, and global footprint.”

Furthermore, in June 2020, Samsung Biologics signed a memorandum of understanding with the Incheon Jaeneung University to attract and cultivate young and promising talent in the future biopharmaceutical industry. This program details a collaboration with the school to develop courses to train students, create field trips, and provide internships for those who wish to do more. 

Emphasizing the Social Part of ESG

Samsung Biologics understands that an emphasis on community creates a strong industry with a focus on excellence. The company has taken great strides to ensure a positive environment for its employees and the community at large. These steps include:

Safety: Its continuous efforts to create a safe environment for its employees. These efforts include an ‘ISO 22301’ certification for all of its facilities and plants. This certification ensures that the buildings meet the standards for fire safety and fire codes. 

Gender Equity:  Its certification from the Ministry of Gender Equality and Family as a family-friendly company, as well as its emphasis on a high percentage of female workforce. This also includes a commitment to appoint the first female director for the company. 

Health: Helping society throughout the COVID-19 pandemic by producing masks and offering them for free to local residents in Incheon Yeonsugu in 2020, when medical masks were hard to find for everyone. 

Community Presence: The company has also created and conducted multiple activities that improve the conditions within their local communities. These efforts include a youth scholarship and mentoring program called “Bio Dream Plus.” Two other programs created include, “Bio Health” that offers medical expense aid for disadvantaged patients and “Bio Happy More”, which focuses on offering childcare facilities in the local community. 

As part of the global logistics supply chain, Samsung Biologics understands that more is at stake than just profit and revenue. Therefore, it has plunged forward in all three parts of ESG, expanding its eco-friendly investment in project facility and energy reduction, participating in the Carbon Disclosure Project, growing with its local community, and taking part in the Korea National Institute for Bioprocessing Research & Training (K-NIBRT). 

By Manali

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