IPark Hyundai Development earns integrated ESG 'A' rating for third consecutive year

IPark Hyundai Development announced Wednesday that it received an integrated A rating for the third consecutive year in the Korea Institute of Corporate Governance and Sustainability's 2026 ESG Assessment and Rating Disclosure.

The Korea Institute of Corporate Governance and Sustainability (KCGS) evaluated 1,020 listed companies this year across environmental, social and governance categories. Ratings range from S to D across seven tiers, reflecting the extent to which companies have established and implemented risk management frameworks.

IPark Hyundai Development has held an integrated A rating for three consecutive years since 2024. The company received an A+ in the social category and was upgraded to an A in governance, achieving A or above across all three ESG pillars. Among major construction companies that earned A or above in every category, the A+ in the social category places IPark Hyundai Development among the top performers.

In the environmental category, the company earned an A by continuously strengthening its response frameworks for climate change and natural capital. IPark Hyundai Development has disclosed climate-related information in line with Task Force on Climate-related Financial Disclosures recommendations, getting ahead of mandatory ESG disclosure requirements. It has also built and operates a risk and opportunity management framework for natural capital based on the Taskforce on Nature-related Financial Disclosures framework. Alongside this, the company has cut waste generation for three consecutive years and has steadily expanded its eco-friendly sales share and green procurement ratio.

In the social category, the company maintained its A+ rating by reinforcing management systems centered on occupational health and safety and human rights. It has actively applied digital technology to on-site safety management, improving key safety indicators — including fatality rates and high-risk accident ratios — for three straight years. The company also broadened its social responsibility commitments by quantifying the monetary value of its business activities' social impact and conducting human rights impact assessments for employees. In governance, the rating rose one notch from B+ the previous year to A.

"Maintaining an integrated A rating for three consecutive years and the upgrade in governance reflect our sustained efforts to improve management systems across all ESG areas — including climate change response, occupational safety, human rights, governance and risk management," an IPark Hyundai Development ESG official said. "We will continue to refine our framework for mandatory ESG disclosure compliance and embed ESG as a core management system that underpins corporate value and sustainable growth."

Meanwhile, IPark Hyundai Development said it is raising its annual contract target to 10 trillion won ($7.44 billion) — up 4 trillion won from the original 6 trillion won — on the back of recent urban renewal project wins. The company has been building momentum since July, securing contracts that include the Seongnam Taepyeong Zone 3 public-participation redevelopment project worth 585.2 billion won, followed by the Uijeongbu Jangam Zone 2 project (900.2 billion won), the Busan Yeonsan Zone 13 project (281.2 billion won) and the Gyeonggi Province Gunpo Geumjeong transit-oriented area Zone 1 project (448.2 billion won).