Ⅰ. Industry Overview (Sector Overview)

 

1) Industry Definition (Why is ESG different in this industry)

The semiconductor components and small parts industry is a foundational industry that sustains semiconductor manufacturing .
ESG in this industry is not about environmental protection or social contribution, but rather a system for managing whether process accidents, chemical leaks, and regulatory violations can actually lead to production interruptions and lost sales .

When evaluating this industry, U.S. investors and global clients approach it this way:

  • "What are the chances that this company's failures in process and chemical management will lead to a shutdown of its semiconductor production line?"
  • “If an accident occurs, are there systems in place to speed up recovery and prevent recurrence?”

This perspective is also repeatedly emphasized in the SASB industry standards
for the semiconductor materials and equipment industry. ▶ https://sasb.ifrs.org/standards/materials/semiconductor-materials-equipment/

 

2) Korea's global position

Korea is a global semiconductor manufacturing country centered around Samsung Electronics and SK Hynix ,
and as a result, semiconductor material, component, and equipment companies are directly integrated into the supply chains of global customers .

Following Japan's export restrictions on semiconductor materials in 2019,
the Korean government pursued a policy of self-sufficiency in semiconductor materials, components, and equipment
. This process expanded the role of listed companies in the chemical materials, specialty gases, and process equipment sectors.
▶ Ministry of Trade, Industry and Energy Semiconductor Policy Data
https://www.motie.go.kr

Therefore, the ESG of Korean semiconductor small and medium-sized enterprises
goes beyond responding to domestic regulations and becomes a key evaluation criterion for whether they can maintain the reliability of the global semiconductor supply chain.

 

3) ESG issues are critical due to the nature of the industry.

  • Environment (E) : Perfluorocarbons (PFCs), special gases, energy-intensive processes
  • Society (S) : Industrial accidents caused by handling chemicals, accidents transferred to partner companies
  • Governance (G) : Violations of environmental and safety regulations, failure to respond to export controls

These items are not simply subject to management, but are classified as **material ESG issues**.
▶ https://sasb.ifrs.org/standards/materials/semiconductor-materials-equipment/

 

Purpose of provision

This report is an industry-level global ESG explanation material that ①  presents the US semiconductor industry ESG evaluation method as a baseline , ② explains the current status of the Korean semiconductor small and medium-sized equipment industry compared to the US, and ③ encourages Korean listed companies to write ESG in a way that US investors and global clients can understand .

II. Summary of the Industry-Wide ESG Structure

Environment (E)

The core environmental issue in the semiconductor industry is not a "carbon declaration," but process stability .
In particular, failure to manage perfluorocarbons (PFCs) and specialty gases can lead not only to environmental regulations but also to production disruptions
. ▶ U.S. EPA Semiconductor Gas Management
https://www.epa.gov/f-gas-partnerships


Society (S)

The core of the social sector is the likelihood of industrial accidents and the ability to respond after an accident .
Rather than the accident itself,  the speed of recovery and the system for preventing recurrence are the central focus of a company's evaluation.
▶ OSHA (United States Occupational Safety and Health Administration)
https://www.osha.gov


Governance Structure (G)

Governance is more about how the board and management respond to incidents and regulatory violations
than about what is declared. ▶ Internal Control and Disclosure Practices for U.S. Listed Companies
https://www.sec.gov

III. The US 'Baseline' – How Semiconductor Small Businesses View ESG

In the United States, the ESG practices of semiconductor component and small business companies are not assessed against a single regulatory standard
. Instead, an "Investor Practice" exists, which operates on three layers simultaneously:

 

1) Industry-specific criteria: SASB Semiconductor Materials & Equipment is the de facto starting point.

When evaluating semiconductor small and medium-sized companies, U.S. investors first look at risk items with proven financial impacts by industry
, rather than a general ESG checklist .

SASB는 반도체 소재·장비 업종에서 다음을 재무적으로 중요한 ESG 이슈로 명시한다.

  • 에너지 사용 및 온실가스 배출
  • 유해화학물질·가스 관리
  • 산업안전 및 중대사고
  • 공급망 중단 리스크

▶ SASB 업종 기준(반도체 소재·장비)
https://sasb.ifrs.org/standards/materials/semiconductor-materials-equipment/

ISSB는 산업별 중요 이슈 식별 시 SASB 체계를 참조 가이드로 활용하도록 명시하고 있다.
▶ IFRS Foundation – ISSB와 SASB 관계
https://www.ifrs.org/groups/international-sustainability-standards-board/

즉, **미국 기준선의 1차 언어는 ‘SASB 업종 KPI’**다.

 

2) 규제는 ‘변수’, 사고·중단·규제 위반은 ‘상수’

미국에서는 기후공시 규제(SEC Climate Rule)가 정치·법적으로 변동될 수 있으나,
반도체 소부장 업종의 ESG 평가에서 사고·중단·규제 위반 리스크는 항상 핵심으로 유지된다.

  • 화학사고 → 공정 중단
  • 중대재해 → 생산 차질·보험·소송
  • 환경·안전 규제 위반 → 고객사 승인·계약 리스크

이러한 인식은 미국 규제기관·투자자 가이드에서 공통적으로 확인된다.
▶ 미국 EPA – 반도체 공정 가스 및 화학물질 관리
https://www.epa.gov/f-gas-partnerships
▶ 미국 OSHA – 산업안전·중대재해 관리
https://www.osha.gov

 

3) KPI + 사건 + 재무 연결이 핵심 판단 구조

미국 투자자는 다음 질문에 답하는지를 본다.

  • 사고가 있었는가?
  • 그 사고를 수치(KPI)로 관리하는가?
  • 사고가 매출·원가·고객 관계에 어떤 영향을 주었는가?

이 때문에 미국 기준선에서는
“무사고”라는 선언보다 사고 기록·복구 시간·재발 방지 체계가 더 중요하게 평가된다.

Ⅳ. 미국 대비 한국 반도체 소부장 산업의 현재 위치

아래 비교는 미국 투자자가 실제로 먼저 보는 항목을 기준으로 정리한 것이다.

구분

미국 기준선(Investor Practice)

한국 산업의 일반적 공시

갭(차이) + 근거

화학물질 관리사고·누출·저감 실적 KPI 공개관리 정책·인증 중심사고·누출 KPI 미공개 사례 다수▶ SASB 기준 요구https://sasb.ifrs.org
산업안전사고 건수·중대재해·손실 설명안전 방침·교육 위주사고–재무 영향 연결 부족▶ OSHA 기준https://www.osha.gov
에너지·탄소Scope1–3 + 강도지표Scope1–2 총량 위주강도지표·Scope3 미흡▶ ISSB S2 가이드https://www.ifrs.org
공급망협력사 실사 범위·결과 공개윤리강령·서약 중심실사 결과·중단 사례 미공개▶ OECD Due Diligencehttps://www.oecd.org
규제 대응위반·시정 이력 설명준법 선언위반·시정 과정 공시 부족▶ SEC 공시 관행https://www.sec.gov

이 갭은 기업의 ESG 의지 부족이라기보다, 공시 언어와 평가 언어의 차이에서 발생한다.

Ⅴ. 한국 제도·공시 구조에서 ‘갭’이 발생하는 이유

1. ISSB 정합 공시체계 전환기
한국은 ISSB 기반 지속가능성 공시 도입을 준비 중이며,
산업별 KPI·사건 중심 공시는 아직 의무화 이전 단계다.
▶ https://www.ifrs.org


2. 보고서 발간 중심 관행
국내 ESG 보고서는 체계·정책 설명에 강점이 있으나,
미국 투자자가 요구하는 사고·중단·손실 중심 정보는 상대적으로 적다.


3. 글로벌 고객 실사와 외부 공시의 언어 불일치
글로벌 반도체 고객사는 실사에서 사고·중단 이력을 확인하지만,
그 내용이 외부 ESG 보고서에는 축약되는 경우가 많다.

Ⅵ. 한국 대표 상장사 사례

동진쎄미켐

후성

ENF테크놀로지

롯데정밀화학

VII. Why Korean Companies Should Adopt US-Level ESG Practices

Here's why Korean semiconductor companies should prepare ESG reports based on U.S. standards.

 

1. Unifying language for understanding foreign investors 
→ Using SASB and ISSB standards reduces “explanation costs.”


2. Transition to a global customer due diligence response document 
→ ESG reports can be used as materials for customer due diligence.

 

3. Export/transaction risk mitigation
→ Documented incident/disruption management systems reduce transaction maintenance costs.

 

4. Securing defensive logic in the event of a regulatory or accident
→ Proof of prior management, not just after-the-fact excuses

Ⅷ. Summary of Foreign Investor Perspectives


Foreign investors often perceive the Korean semiconductor industry as a market with "technological competitiveness, but conservative risk descriptions."

  • Industrial safety, chemical accidents, and supply chain disruptions are risks that are immediately reflected in valuation .
  • Korean companies are evaluated as having a management system in place, but
    their explanations of events, KPIs, and financial connections are considered insufficient compared to those in the United States.
  • If ESG reports complement this,
    investors can use them as data to judge the reliability of supply chains .
Ⅸ. Notice

This document is a reference document that structured industry-level ESG information based on publicly available corporate disclosures, website data, and credible disclosure standards (e.g., ISSB/CSRD).
It is not intended for investment decisions, buy/sell recommendations, or valuations of specific companies. The final decision and responsibility for any use of this material lies with the user.

Ⅹ. Analyzable results

To utilize this sector report as a platform/overseas distribution/B2B, the final output can be efficiently separated into the following three types .

  • (A) 2-Page Sector Scorecard for Overseas Investors
    : Korean Industry Position vs. US Baseline + Top 5 Key Gaps
  • (B) Writing Kit for Listed Company Professionals
    : 6 Fixed Sections + KPI Template (Table, Definition, Formula)

(C) Evidence Pack
: Includes links to supporting evidence, regulations, and standards for each claim
(ISSB guides, SEC rule changes, Korea adoption roadmap, industry SASB topics, etc.)
▶ https://www.ifrs.org