CEO Message
We extend our deepest gratitude to everyone who has consistently encouraged and supported SK bioscience’s continuous growth. Since the publication of our first ESG report in 2022, SK bioscience has achieved significant milestones, including being the only company in the domestic bio industry to receive an MSCI A rating in 2023.
Our efforts toward a sustainable future continue this year. We have launched a dedicated website to share various ESG activities, growing as a company that simultaneously practices economic value (EV) and social value (SV).
Under the vision of becoming a "Global Innovative Partner of Vaccine and Biotech," SK bioscience will focus on the following three areas in 2024.
First, we will create both economic value (EV) and social value (SV) through our business.
SK bioscience, committed to contributing to human health through our core operations, is advancing our mid- to long-term business strategy called 'SKBS 3.0'. To realize our unique business model of simultaneous SV-EV creation, we continue to discuss new SV initiatives with global entities such as CEPI (Coalition for Epidemic Preparedness Innovations) and the Gates Foundation to enhance public health, and we are concretizing business models that link these initiatives to EV creation. Specifically, through the CEPI mRNA projects, we are securing an independent mRNA platform while preparing means to respond to emerging infectious diseases.
Additionally, our next-generation pneumococcal vaccine, co-developed with Sanofi, has successfully completed Phase 2 clinical trials in the US and is now preparing for global Phase 3 trials. Our SKYShield strategy, which builds vaccine production infrastructure in developing countries, is expanding its target countries beyond Thailand. The influenza vaccine, whose production was temporarily halted for the COVID-19 vaccine, has successfully returned to the market, and our SKYVAX products are opening up export paths with consecutive global approvals. Furthermore, we have signed a next-generation Ebola vaccine CDMO contract with MSD, and we are solidifying new research and production collaborations with numerous international partner organizations.
Simultaneously, we are expanding our infrastructure. Aiming to secure a production facility that meets U.S. cGMP requirements, we have begun expansion work on the Andong L House, and the construction of the Songdo Global R&PD (Research & Process Development) Center, which will become SK bioscience's new base, is proceeding as planned.
Second, we will further strengthen the execution of our ESG management.
2023 was the year we established the foundation for SK bioscience's ESG management. We published our second ESG report, ensuring our disclosure level meets international standards, and established a human rights management policy and due diligence system to elevate our human rights risk management to a global level. Additionally, to fulfill our RE100 commitment, we participated in a renewable Power Purchase Agreement(PPA) with the SK Group, and we proactively developed capabilities to respond to global regulations by diagnosing and managing our supply chain ESG management.
In 2024, we will focus on enhancing substantiality of ESG management. Our dedicated ESG and related departments will improve ESG information disclosure based on data systems to prepare thoroughly for upcoming non-financial information disclosures and external ratings. Moreover, we aim to expand the scope of the human rights impact assessments and supply chain management initiated in 2023 to encompass a broader range of stakeholders.
Third, we will establish a foundation for embedding ESG within our workforce.
In 2023, SK bioscience invited employees to submit new corporate philanthropy ideas and launched education programs on infectious disease prevention related to our business. We also began activities to share information and raise awareness about ESG management among our employees.
In 2024, to embed ESG more deeply, we plan to increase the participation of management in ESG activities and expand capacity-building programs for employees throughout the Company. Additionally, we will incorporate ESG-related KPIs more extensively within the departments responsible for these tasks and conduct regular reviews of their implementation, encouraging employees to take ownership of ESG management.
SK bioscience aims to become a partner in safeguarding global public health globally by accelerating the global reach of our self-developed vaccines, expanding our vaccine portfolio, strengthening our manufacturing and R&D infrastructure, implementing the SKYShield strategy, preparing for the next pandemic, and expanding into new bio businesses.
Furthermore, with all employees genuinely practicing ESG management, we will realize our vision of a "Healthier Life, Sustainable Future." We ask for your continued interest and support as SK bioscience strides toward a sustainable and healthy future.
Jaeyong Ahn President and Chief Executive Officer