Effectiveness of ESG Management in Korean Companies
Author : Minseo Cho
Advisor : N/A
Daewon Foreign Language High School, Gwangjin-gu, Seoul, South Korea
Abstract
This study was conducted for the purpose of proving ESG management can help boost company wealth not only for multinational companies but also domestic ones as well. By evaluating the increasing global trend of ESG implementation and unique characteristics of Korean society that may affect the domestic ESG scene, This study has identified the roots of the widespread misconception of ESG being harmful to company performance. It has analyzed two companies, Naver and SK Innovation, as examples of showing increased financial performance followed by the implementation of ESG management. Through this study, company owners, stockholders, or any other stakeholders in the economy realize that ESG management, unlike its misunderstanding of being accomplished at the sacrifice of profit, is rather helpful for a company’s wealth. Also, this study will hopefully contribute to the dispersion of ESG implementation to Korean companies and ultimately carry out a truly sustainable society that lives up to the fundamental purpose of ESG.