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PRESS RELEASE September 24, 2019

World Bank Group Announces Partnership with Hyundai Steel to Support Achievement of SDGs

WASHINGTON DC, September 24, 2019 – The World Bank Group (WBG) welcomed Hyundai Steel Co., Ltd as a new partner in the World Bank Group Partnership Fund for the Sustainable Development Goals (SDG Fund). Hyundai Steel’s $85,000 contribution will support the Fund’s core activities to strengthen countries’ capacity to achieve inclusive and sustainable growth paths toward the SDGs.

Hyundai Steel Company is the first private sector entity to partner with the SDG Fund, joining the governments of Sweden and the Republic of Korea. Hyundai Steel Company’s contribution exemplifies the Fund’s commitment and vision for public-private partnerships in implementing the 2030 Agenda.

“We are delighted to welcome Hyundai Steel as the first private sector partner of the SDG Fund,” said Mahmoud Mohieldin, WBG Senior Vice President for the 2030 Agenda, United Nations Relations and Partnerships. “There is a clear need to catalyze and crowd in private sector investment to support SDG action. Hyundai Steel’s partnership with the World Bank Group underscores our shared objectives to support sustainable and inclusive growth in client countries.”

“To date Hyundai Steel's global social contribution model has largely been around the staff's voluntary service,” said Ko Sun Jung, Corporate Social Responsibility Team, Team Manager, Hyundai Steel. “But by aligning the model with global standards, Hyundai Steel seeks to play a leading role as a global steel company.”

Established less than one year ago, the SDG Fund supports partnerships across the public and private sectors to strengthen countries’ capacity through analytical tools and data, knowledge products, and implementation support for achieving the SDGs. To date, the SDG Fund has enabled 46 country pilots in every region of the world, working in areas such as the digital economy, gender, inclusion, data, human development, in addition to capacity building and technical assistance efforts.

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About the WBG SDG Fund

The World Bank Group SDG Fund responds to the growing demand for strategic initiatives that drive the achievement of SDG17 on the means of implementation. By providing data, analysis, and tools directly to local, regional, and global stakeholders, the SDG Fund helps to inform policy and SDG implementation, while leveraging multi-stakeholder partnerships to share knowledge, experience, resources, and connections for our common goals. The SDG Fund develops unique tools, knowledge products, and partnerships that are imperative to maintain momentum on track to achieve the global goals by 2030.

For more information about The World Bank’s work on the 2030 Agenda, visit https://www.worldbank.org/sdgs.

About Hyundai Steel

Hyundai Steel Co., Ltd, is a steel company headquartered in Incheon and Seoul, South Korea. Established as Korea’s first steelmaker in 1953, Hyundai Steel is currently one of the major companies of the Hyundai-Kia Automotive Group. As a steel mill specialized in automotive materials, Hyundai Steel is heavily engaged in the development of next generation steel for the future automotive industry. Hyundai Steel has paved the way for sustainable growth by boosting blast furnace business as a new growth engine in addition to its existing electric arc furnace-based operation. Hyundai continues to prepare for a greater future with a vision of “Leading the New Era of Steel”.

For more information about Hyundai Steel and its work visit www.hyundai-steel.com


Contacts

Washington
Juliana Knapp
+1 (202) 473-6845
jknapp1@worldbank.org
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