LG Sangsa Receives ESG Excellence Award Selected by Korea Corporate Governance Service

[Asia Economy Reporter Suyeon Woo] LG Corporation received the ESG (Environmental, Social, and Governance) Excellence Award selected by the Korea Corporate Governance Service (KCGS).

LG Corporation announced on the 27th that it received the Excellence Award at the '2020 ESG Excellence Awards Ceremony' held at the Korea Exchange in Yeouido, Seoul.

In this year's ESG evaluation, LG Corporation received grades of A in Environmental Responsibility, A+ in Social Responsibility, and A in Governance, resulting in an upgraded overall grade of 'A' compared to last year's integrated grade of B+.

On the 27th, at the Korea Exchange in Yeouido, Seoul, Shin Jin-young, President of the Korea Corporate Governance Service, and Kang Sung-chul, Head of Business Strategy at LG Sangsa (right in the photo), are taking a commemorative photo at the '2020 ESG (Environmental, Social, and Governance) Excellent Companies Awards Ceremony.' Photo by LG Sangsa

The ESG rating has been evaluated by the Korea Corporate Governance Service since 2011 for domestic listed companies, assessing their ESG (Environmental, Social, and Governance) levels. It aims to promote sustainable corporate management and serves as an indicator for capital market participants to recognize companies' ESG management levels.

This year, the rating evaluation was conducted for 908 listed companies. A representative from LG Corporation stated, "The reason we achieved excellent results in the ESG evaluation is that we recognized the importance of ESG as a non-financial factor in corporate management and have reviewed and responded to it throughout our management activities. The ESG rating is a criterion directly linked to corporate evaluation, and it acknowledges LG Corporation's efforts to create social value and establish a foundation for sustainable growth."

In this award, LG Corporation was highly evaluated for activities such as investing in renewable energy-related businesses, establishing an environmental dedicated organization to enhance environmental performance and management systems, and continuously expanding compliance management and promoting communication with partners, competitors, and local communities.

Kang Sung-cheol, Head of Management Strategy at LG Corporation, said, "ESG is an essential condition for sustainable growth and survival of companies. LG Corporation will do its best to build a high-level ESG management system based on transparent and sound governance. We will also strengthen communication with various stakeholders such as customers, shareholders, and investors regarding ESG-related management performance and information."