South Korean companies in the palm oil industry
Aidenvironment recently released a report with Chain Reaction Research on the outsized impact of South Korean companies on the palm oil leakage market. The report reveals top South Korean buyers of palm oil do not have NDPE commitments. It finds that South Korean companies involved in the growing of palm oil, including Samsung C&T, LG Corporation, Korindo, Posco International, JC Chemical and Daesang have significant environmental, social, and human rights issues on their plantations.
In a webinar Sarah Drost, from Aidenvironment, and guest speaker Shin Young Chung, from Korean NGO APIL, discussed the findings of the report. Watch the discussion here.
Despite the adoption of NDPE being as high as 83% in Indonesia and Malaysia, other geographies, most notably South Korea, are lagging behind. Aidenvironment’s work and this report aim to bring this issue under the attention of the industry.
We have already seen positive results due to the report and webinar:
- RSPO will use the insights in a workshop with stakeholders involved in the South Korean palm oil industry.
- The Palm Scribe, an Indonesian news outlet about palm oil, published an article based on the findings.
- Chris Wiggs, Aidenvironment staff and co-author of the report, participated in a webinar co-hosted by three Korean NGOs, on the risks of biofuel demand in Asia related to palm oil.