Korea Investment & Securities and KANTU Trust Establish 'ESG Committee'

Jung Il-moon, President of Korea Investment & Securities

[Asia Economy Reporter Junho Hwang] Korea Investment & Securities, a subsidiary of Korea Financial Group, announced on the 10th that it has established an ESG (Environmental, Social, Governance) Committee under the board of directors to strengthen sustainable management.

Korea Investment & Securities held a board meeting on the 7th and resolved to establish the ESG Committee. The ESG Committee is the highest decision-making body that establishes basic strategies and policies for ESG management and oversees their implementation.

The goal is to realize eco-friendly corporate investments, underwriting and launching ESG-related bonds and products, achieving shared growth and co-prosperity values, expanding inclusive finance and social contributions, and developing and investing in products of companies with excellent governance.

The ESG Committee is composed of President Ilmoon Jung, an inside director, Kim Taewon, former Managing Director of Google Korea (Chairman), an outside director, and Professor Youngtae Cho of Seoul National University Graduate School of Public Health. President Jung was appointed as a committee member to actively reflect ESG-related matters throughout management.

Korea Investment & Securities declared the suspension of coal-related investments in August last year. Subsequently, in September, it formed a consortium with Korea Hydro & Nuclear Power and others to acquire a 49.9% stake in four U.S. wind power plants, embarking on renewable energy development. In response to the financial market crisis caused by COVID-19, it has invested in financial market stabilization funds and supported the growth of innovative and venture companies, promoting social responsibility investments totaling KRW 482.6 billion. Recently, in April, it was selected as a greenhouse gas emissions trading market operator.

President Ilmoon Jung said, "While continuing the company's financial growth, we have strived to fulfill our responsibilities in non-financial areas such as social and environmental issues," adding, "Through the launch of this ESG Committee, we will implement more consistent and systematic policies and establish ourselves as a financial company leading the creation of social value."

Meanwhile, Korea Investment Trust Management, a subsidiary of Korea Investment & Securities, also established an ESG Management Committee on the 7th. Kim Namgoo, Chairman of Korea Investment Financial Group, plans to expand the ESG framework to the entire group in the future.