Corporate Social Responsibility
- Overview
- Fostering fundamental research
and talent - Cooperation with business partners
- Fulfillment of social responsibility
SK bioscience will devote the best effort to build up individual business units
and promoting combined growth of all units to create the Global Biopharma Ecosystem,
the key to the success of its future bio-pharmaceutical business
while carrying out consistent social
contribution activities to be sustainable and socially valuable.
Global Biopharma Ecosystem
SK bioscience is leading various joint vaccine development projects with international organizations
for the public health of the globe, sponsoring donations for projects to develop epidemic vaccines,
and operating programs to nurture and recruit talent for the expansion of the vaccine industry.
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The RIGHT Fund is the first non-profit, public-private mix foundation in Korea jointly invested by the Ministry of Health and Welfare of Korea, five domestic life science companies (SK bioscience, LG Chem, GC Green Cross, Chong Kun Dang, and Genexine), and the Bill & Melinda Gates Foundation (BMGF).
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The RIGHT Fund plans to invest approximately KRW 50 billion in R&D projects over the next five years to utilize Korea's excellent technological prowess to develop vaccines, therapeutics, and diagnostic technologies needed to solve health and medical problems in developing countries.
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We are sponsoring organizations that are involved in all stages of the value chain of vaccines, from development to distribution, contributing to increased public health
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We are using IVI's network and expertise to strengthen our business capabilities.
① ponsoring advanced courses of international vaccinology
② Man-Hoon Park Award
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Aims to recognize the entrepreneurship of Park Man Hoon, the former vice president who paved the road for SK bioscience's vaccine business
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Sponsors excellent students and nurture them to experts in the bioscience and vaccine industry
① Park Man Hoon Scholarship
- Department of Life Sciences, Seoul National University
- Andong University
- Boseong High School
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Aims to support the fundamental research fields
① Sponsored Samsung Medical Center for its liver cancer biomarker discovery researches
Supporting Bio Venture
SK bioscience has created an investment fund and expanded its investment in bio-tech for vaccinology and epidemiology,contributing to the growth of the ecosystem of bioscience start-ups while creating new profitable business opportunities
SK bioscience has operated the four guidelines of the Fair-Trade Commission since the first
adoption through the subcontract agreement signed in July 2012. After the agreement, it has operated an internal committee
dedicated to reviewing subcontract transactions to help all members recognize suppliers as true partners.
In addition, we are running a team dedicated to the partnership with suppliers to establish co-prosperity partnerships with our partners for shared growth.
Purpose of shared growth management
- Implement SK's basic philosophy of "pursuing happiness for stakeholders", which is the basis for win-win cooperation.
- Establish and operate "SK Shared Growth Management Committee" for continuous cooperation with partners
- Establish a trust-based co-prosperity system for improved productivity
- Reinforce mutual competitiveness by enhancing capabilities of business partners
- Innovate by advancing open, cooperative relationships
Establishing a trade order of fairness
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Guidelines for a desirable contract signing for shared growth between enterprises and SMBs
A. Define the delivery schedule through sufficient consultation with the contracting party and consult with the supplier if a shorter-than-usual delivery timespan has to be specified, e.g., in case of emergency orders.
B. Define and adjust the supplier prices in a rational pricing manner, e.g., by reflecting the changes in the raw material price, exchange rate, and inflation factors, etc.
C. Refrain from unreasonable reductions -
Guidelines for BP selection (registration)
: Specifies criteria for BP selection (registration) to ensure transparency and fairness in selecting business partners
A. Improving the objectivity and fairness of BP selection (registration) and cancellation criteria
B. Prior disclosure of the criteria, procedures, and results of BP selection (registration) and cancellation
C. Granting fair bidding opportunities to registered companies, etc. -
Guidelines for the establishment, and operation of an internal committee for subcontract transactions
A. The internal committee for subcontract transactions is composed of three or more members, including executives in charge of subcontract transactions, etc. and makes a contract with a minimum amount and determines pricing.
B. Deliberation on the adequacy of BP registration/cancellation standards and procedures, etc. -
Guidelines for good practices of documentation and preservation
A. Issuance of any of 7 documents as required depending on the nature of the agreement concluded with the subcontractor: the contract or agreement (including additional/modified contracts), statement of contractor agreement, receipt of objects, etc., letter of inspection results, written notice of price reduction, request for technical data, and notice of changes to the contract.
Mixed Support
| Purpose | Raise a group-level fund for shared growth to provide financial support to small and medium-sized business partners to be in line with the central government’s policy for shared growth and comply with its shared growth management policy. |
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| Loan qualifications | Subcontractors and excellent-grade business partners acquired a recommendation from SK bioscience (first recommendation by the field department) |
| Loan limit | up to KRW 300 million (determined by the transaction amount), lump-sum, subject to the credit rating by IBK |
| Loan period | 1 year, renewable only once for an additional year |
| Loan interest | The interest rate may vary and can be as low as 3.2% (1.7% + 1.5%) |
| Loan Procedure |  |
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* Required documents: all documents required by IBK * Interest, term, and the amount of loan may be changed with the situation. * Loan confirmation may be delayed depending on the allowance for loan losses. |
Direct Support
| Purpose | Raise a group-level fund for shared growth to provide financial support to small and medium-sized business partners to be in line with the central government’s policy for shared growth and comply with its shared growth management policy |
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| Loan qualifications | Subcontractors and excellent-grade business partners acquired a recommendation from SK bioscience (first recommendation by the field department) |
| Loan limit | up to KRW 300 million (determined based on the transaction amount), lump-sum, subject to the credit rating by SK bioscience |
| Loan period | 1 year, renewable only once for an additional year |
| Loan interest | Equivalent to the lowest open market interest rate |
| Loan Procedure |  |
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* Submit application to the Procurement Department * Interest, term, and the amount of loan may be changed with the situation. |
Indirect Support
| Purpose | Provide a guarantee or collateral as financial support for its small and medium-sized business partners to be in line with the central government’s policy for shared growth and comply with its shared growth management policy. |
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| Product Name | IBK Network Loan |
| Loan qualifications | Subcontractors and excellent-grade business partners acquired a recommendation from SK bioscience (first recommendation by the field department) |
| Loan limit and interest | to be determined through a consultation with the bank |
| Loan period | 1 year, renewable only once for an additional year |
SK bioscience provides suppliers and partners with various education programs led by SK Shared Growth Academy and
the education and training programs are expanded.
In addition, our suppliers and partners are seeing more education opportunities in the education programs led by SK Chemicals.
| Target | Excellent-grade partners and subcontractors of SK bioscience |
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| Contents | Discuss trending national and international management practices to widen the management perspectives and build a community for shared growth. |
| Venue | SK Shared Growth Academy |
| Schedule | last Wednesday of every month in the first half (Mar to Jul) and the second half (Aug to Dec) |
| Application | Apply after checking the training schedule (partners will be informed monthly via email), through either a membership or a voluntary participation |
| Target | Middle managers and key business leaders of excellent-grade partners and subcontractors of SK bioscience |
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| Contents | Courses on management essentials (management strategies, accounting, finance, marketing, leadership, etc.) and generals (management-related trends, cultures, and liberal arts) |
| Venue | twice a year, every Friday for 8 weeks, each in the first and second half |
| Schedule | last Wednesday of every month in the first half (Mar to Jul) and the second half (Aug to Dec) |
| Application | Apply after checking the training schedule (targets will be informed of each course in advance via email) |
| Target | All members of all partners of SK bioscience |
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| Contents | Provide a comprehensive online education program consisting of approx. 100 courses on diverse subject matters (management generals, IT, self-development, etc.) to help our partners establish future competitiveness. |
| Registration | online self-registration, available at: www.skwinwin.com |
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01 Membership application (Registered by HR representative) Apply with application and consent form after applying for membership from website02 Member registration (Register by members of registered companies) Input basic information for member registration03 Class application (Direct application) Enroll for classes out of 100 courses |
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| Target | Excellent-grade partners and subcontractors of SK bioscience |
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| Contents | Discuss trending national and international management practices to further develop marketing perspectives and build a community for shared growth. |
| Venue | SK Chemicals Eco Lab |
| Schedule | Twice a year, each on the first and second half |
| Application | Apply after checking the training schedule (targets will be informed of each course in advance via email) |
Analytics Support
The Analytics Team of SK bioscience provides production-related analysis services and insights that our business partners need.
| Target | Various organic matters including polymers |
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| Instrumen | IR, NMR |
| Analysis items | Analysis of various foreign substances, Q/C of raw material quality, analysis of the molecular structure |
| Target | The physical properties of polymers (molecular weight, intrinsic viscosity, thermal properties, moisture content, and crystallinity) |
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| Instrumen | IV, GPC, TGA, karl Fisher, XRD |
| Analysis items | Molecular weight, intrinsic viscosity, thermal properties, moisture content, and crystallinity |
| Target | The physical properties of polymers (molecular weight, intrinsic viscosity, thermal properties, moisture content, and crystallinity) |
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| Instrumen | IV, GPC, TGA, karl Fisher, XRD |
| Analysis items | Molecular weight, intrinsic viscosity, thermal properties, moisture content, and crystallinity |
| Target | Conductive solids and general solid matter |
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| Instrumen | SEM (electron microscope), EDX, AFM |
| Analysis items | Surface phenomenon and microstructure |
| Target | Inorganic matters |
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| Instrumen | ICP |
| Analysis items | Qualitative and quantitative analysis of inorganic substances |
Patent Support
The Analytics Team of SK bioscience provides patent-related support that our business partners seek.
| Analysis/patent request Flow |  |
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Legal Support
SK bioscience provides legal consultation support to our business partners.
| SK bioscience has a dedicated task force team for a systematic and active performance of our Shared Growth initiatives and tasks. |
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| Shared Growth Promotion Team: ☎ 02-2008-2326 / 2757 |
SK bioscience is continuously and consistently promoting social contribution programs
to realize social values and social contribution activities for shared growth with local communities.
Community Sponsorship
SK bioscience is serving as a model for society with a successful business modelof cooperation and win-win growth that develops the local community through consistent social contribution
activities and strengthens the business environment through this.
Donation to the culture and art associations based in Andong
- Donated KRW 50 million to The 21st Century Human Values Forum held by Andong & Korean Foundation for Cultures & Ethics
Donation to recover Andong wildfire damage
Donation to military bases at Andong
Hope Maker is a social welfare program that supports children and teenagers in low-income families and sponsors mentoring programs. Hope Maker is SK bioscience’s representative social outreach program that has been in place since 2012.
It sponsors economic and cultural activities for 150 children and teenagers in 11 social welfare institutions across the country.
It also promotes the employees’ volunteer activities in welfare institutions. In addition, “Hope Maker School,” which focuses on career education and mentoring for students, continues to provide step-by-step and systematic career education and consulting for students in each grade of elementary, middle, and high school.
SK bioscience formed the “SK bioscience Volunteers Group” in 2004 to fulfill its mission as a good corporate citizen, All of its members are participating in volunteer programs in the community. The SK bioscience Volunteers Group consists of volunteer teams at each business site and the CEO of the company serves as the head of the volunteer group.
Each group participates in the types of volunteer work they want, such as family, in-house and educational, activities, depending on the characteristics and needs of each business site.
We support the growth of social enterprises that lack talents in the areas of marketing, labor and business support through volunteer activities that utilize the expertise held by the employees.
Happy Green School is an environment education program for children, it is a social outreach activity in which our employees directly participate as guest speakers at nearby elementary schools to provide Environmental sustainability education tailored to children. We are helping elementary school students understand the importance of the environment in an easy and fun way by using customized textbooks and board games. Running since 2012, Happy Green School teaches the importance of environment protection and raises environmental awareness.
In 2019, it was certified as an excellent educational charitable institution (No. 2019-002) by the Ministry of Education in recognition of its outstanding work in providing environmental education.
Since 2005, we have encouraged our employees to purchase Environmental sustainability organic products. The goal is to build trust in urban-rural co-prosperity and support advanced distribution network projects, thereby promoting the conversion to Environmental sustainability farms and increasing farm incomes.