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Press ESG October 17, 2022

TYM to participate in government supported eco-friendly plant construction program

- TYM plans increase its investments in achieving net zero carbon emissions to 8.7 billion won, including 5.7 billion won from its own funds by 2023.

- TYM is in the process of upgrading the tractor production line at its Iksan plant and developing a system to reduce carbon emissions

- TYM will participate in the '2022 Net Zero EXPO' held in KINTEX in November to promote its achievements in reducing carbon emissions

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TYM announced on October 17th that it has been selected as a candidate for the government-supported Leading Carbon-Neutral Plant Construction Program.

Since TYM became the first in the industry to announce ESG (environmental, social, and governance) management last February, it has been stepping up efforts to upgrade its factories and develop eco-friendly products. As a part of these efforts, TYM is determined to participate in the aforementioned program to further reduce carbon emissions and solidify their position as a leading ESG management company.

In order to achieve carbon neutrality, one of its ESG management goals, TYM is increasing total investment to a total of 8.7 billion won by 2023, including 3 billion in government subsidies and 5.7 billion won from its own funds. This investment will be used to install LED lighting and high-performance air compressors to save energy in the factory, to upgrade paint shops with robotics, and installing assembly lines utilizing automated guided vehicles (AGVs).

TYM was selected as a program candidate thanks to efforts to promote its goals to reduce carbon emissions and its revamp of the Iksan plant tractor production line. Among other initiatives, the Iksan plant was modernized as a carbon-neutral plant by applying a plant-wide smart factory system. Additionally, TYM is taking the lead in upgrading the Factory Energy Management System (FEMS), which monitors energy usage and greenhouse gas reductions in real time.

In order to promote its efforts, TYM will participate in the 2022 Net Zero EXPO in November which is being held at KINTEX in Ilsan. TYM plans to solidify its position as a leading ESG management company by exhibiting an open lab and displays on carbon-neutral practices.

The “Leading Carbon-Neutral Plant Construction Program” is led by the Ministry of Trade, Industry and Energy and the Korea Institute of Industrial Technology to promote industrial carbon emission reduction. The main focus is to select and support exemplary companies that are reducing carbon emissions by applying the latest technologies.

We are doing our best to continue to earn the title of 'first in the industry' in the ESG management field," a TYM official said. "We will continue our trajectory as a leading carbon-neutral company with the goal of progressively establishing eco-friendly production line facilities.”

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