Hansae Co. Ltd. owns garment manufacturing facilities in a number of countries, including Vietnam. The recommendation is based on investigations into working conditions which uncovered that the norm violations at several of the company’s factories in Vietnam have been extensive and have gone on for a long time, and that the company has not previously proved itself capable of generating lasting improvements in working conditions.

On 23 June 2017, Norges Bank decided to place the companies under observation, and has asked the Council to follow developments in the case.
Please find the Council’s recommendation here.

On February 11, 2019, the Council submitted a letter to Norges Bank on the obsevation of the company.
Please find the 2018 observation letter here.