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During 2007, the world economy was mired by skyrocketing oil prices and the sub-prime mortgage crisis and this affected the Korean economy which was also suffering from a sluggish economic recovery. Despite these adverse management conditions, Korean Air realized KRW8,812.0 billion in operating revenue, KRW636.8 billion in operating income and KRW10.7 billion in net income. This remarkable performance was the result of our aggressive efforts to boost revenue sources through various activities including |
expanding routes to emerging markets such as China and Southeast Asia, strengthening overseas business network, increasing the portion of high-profitable sales as well as reinforcing risk management schemes against foreign exchange rates and interest rates.
In addition to sizeable growth, we remain committed to sustainable management efforts through harmonizing economic, social and environmental values.
Sustainable corporate growth encompasses a great deal more than merely fulfilling economic responsibilities. Well aware of this, we are fulfilling our responsibilities to the community and the environment through activities designed to protect the environment and systems such as ethical management, and transparent and sharing management. These efforts culminated in July 2007 when Korean Air joined the UN Global Compact making a commitment to the Compact’s 10 principles regarding human rights, labor, environment and anti-corruption.
In addition to this commitment, we are building partnerships with our stakeholders including shareholders, suppliers-or business partners, as we dub them-, customers, employees and the community while sharing our vision for a better future with them. At the same time, we will continue to fulfill our social responsibilities as a respected corporate citizen by expanding the company’s social contributions, while also encouraging our employees to actively participate in social services.
Above all, we are committed to protecting the environment.
We are currently promoting environmental management in our daily business activities. Increasing awareness of environmental issues such as global warming and the depletion of fossil fuels has led to a call for fundamental changes within the aviation industry. Korean Air is also faced with this issue, but we believe that change is a vehicle for improvement. Consequently, we are replacing our old fleet with environmentally-friendly next-generation aircraft which feature high fuel-efficiency and low CO2 emission.
We have also developed fuel-saving operational procedures. Through these efforts to mitigate climate change, Korean Air is committed to preserving a clean and clear method of flying.
Korean Air’s 2008 Sustainability Report is a balanced publication containing the efforts and results of the company’s economic, social and environmental initiatives prepared in accordance with the GRI Guidelines (G3).
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Environmental Management /Greeting of Chief 
Mileage Inquiry