Social
Supply Chain Management
Supply Chain Management
Supply Chain ESG Management
Supply Chain ESG Policy
To support ESG management among our suppliers, SK bioscience provides ‘BP Ethical Practicd Pledge’ to our business suppliers before contracting with them, and we require a signed copy to ensure compliance. In 2022, we have established a Supplier Code of Conduct to guide ESG management practices for our suppliers and promote compliance by obtaining a signed pledge of adherence.
Supply Chain ESG Internalization Policy
| Supplier Code of Conduct | Adoption of supplier code of conduct which is comprised of four sections, Human Rights and Labor, Safety & Health, Eco-friendliness, and Business Ethics |
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| ESG Self-checklist | Self-inspection of check-list items such as fair trade/anti-corruption, safety issues, and partner transaction status for all purchase contracts |
| Compliance(CP) Agreement | Ensuring transparency in transactions and the practice of business ethics concerning business partners through
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| Code of Ethics for Purchasing |
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| Bid Evaluation Guide | Partner selection principles, bidding process, detailed guidelines containing ESG elements |
| Social-responsibility-based Purchasing Principles | Fulfillment of corporate social responsibility by pursuing shared growth in selecting trading partners and reviewing and supporting business partners’ non-financial status |
Supply Chain Management System
To ensure the sustainability of our supply chain, SK bioscience establishes strategic partnerships with our suppliers that share our ESG values and aim to strengthen capabilities together. We operate supply chain ESG assessments in the areas of ethics and anti-corruption, labor and human rights, safety and health, and environment, and have put in place various programs for shared growth. Based on our supply chain ESG policy and management system, we are committed to building a sustainable bio-ecosystem.
Sustainable Supply Chain Management Framework
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Supply Chain ESG Capacity Building
- Provision of guide to practice ESG
- Support for improving ESG management
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Shared Growth
- Activities for shared growth and winwin cooperation
- Communication with suppliers
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Supply Chain ESG Risk Management
- Assessment and improvement of ESG risks in the supply chain
- Reflection of evaluation results in the purchase process
Supply Chain Scope and Classification
As a company that researches, develops, and produces biomedicine such as vaccines, SK bioscience has established strict standards to evaluate and register suppliers.
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Main Suppliers
Companies with high strategic significance based on annual ordering costs or the nature of partnership in case of the key component suppliers, irreplaceable companies, and strategic procurement outsourcing suppliers
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Others Suppliers
Companies that require a systematic management approach due to a significant business relationship with us
Shared Growth of Supply Chain
Support Shared Growth
SK bioscience conducts business with suppliers based on the principle of fairness and strives for shared growth through coexistence. To this end, we protect the rights of our suppliers from the supplier selection phase to the conclusion of transactions. We strictly adhere to the applicable laws and regulations, such as the Monopoly Regulation and Fair Trade Act, and the Act on the Regulation of Terms and Conditions. Moreover, we operate desirable contract signing guidelines for shared growth.
Support and Training Programs for Suppliers’ Capabilities
SK bioscience supports various supplier education and training programs through the SK Shared Growth Academy and offers opportunities for participation in our own training programs. We also identify domestic material, component, and equipment companies and provide them with development cooperation, including access to our facilities for technology development, manufacturing innovation, and support for development testing. In the future, we will operate an Open-Lab at our Songdo Global R&PD Center to strengthen our support system for supplier growth.
Supplier Grievance and Communication Channels
To listen to and actively communicate with suppliers’ grievances, SK bioscience operates a grievance channel in the procurement portal, along with various communication channels such as mail, phone, and video conferencing. We also resolve disputes related to the Code of Ethics through the SK Group Ethical Management Reporting Channel and strictly guarantee the confidentiality of the content of the report and the identity of the informant. In addition, we plan to establish fair trade practices and enhance transparency throughout the supply chain by operating the Voice of Suppliers for secondary and tertiary suppliers.