SEOUL, Oct. 31 (Korea Bizwire) – Hyundai Motor Group is quickly expanding its Chinese operations, and along with it, its corporate social responsibilities.
According to Beijing Hyundai Motor, a joint-venture between Beijing Automotive Group and Hyundai Motor Company, the Korean auto-group was given the highest CSR development index score this year among all automakers in China, at 87.5 points out of 100.
Hyundai was followed by Dongfeng Motor (85.54), FAW Group (80.22), SAIC Motor (78.4), and JAC Motors (78.1).
The index was compiled by the Research Center of CSR (China Academy of Social Sciences), and is considered one of the most important indices in terms of CSR in the country, an official said. It is derived by assessing a multitude of factors, including social contribution, employment, and employee welfare, of the leading 300 companies (all industries) in China.
Among the 300 companies, Hyundai nabbed a spot in the top-ten list for the first time, ranking 10th, a jump from 27th in 2015. In particular, the group was the only foreign firm that scored full points in the social responsibility sector among four major evaluation categories – liability management, market responsibility, social responsibility and environmental responsibility.
Hyundai was ranked 51st in 2014, and 150th in 2013.
The automaker has been rapidly expanding its CSR efforts in recent years. It signed a strategic agreement with the Communist Youth League of China in 2012, and became to first company to establish an in-house CSR department in the country.
Hyundai’s most recent CSR endeavor includes operating an afterschool activity center for children in rural areas with parents working in the newly-established Beijing China factory in Cangzhou.
Hyundai and Kia claimed 8 percent of the local market as of August 2016.
By Joseph Shin (email@example.com)