KCCI, KOSDAQ Association, and KOSDAQ Listed Companies Association Sign MOU for ESG Policy Development and Support

[Asia Economy Reporter Ki-min Lee] The Korea Employers Federation, the Korea Listed Companies Association, and the KOSDAQ Association have joined hands for the first time among economic organizations to spread a corporate-led ESG (Environmental, Social, Governance) autonomous management culture.

On the 15th, the three organizations announced that they signed a "Business Agreement (MOU) on Establishing and Supporting Corporate ESG Policies" at the Korea Employers Federation building in Mapo-gu, Seoul.

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This MOU signing was made to prioritize the needs of listed companies, which are most directly receiving ESG verification demands from asset management firms such as pension funds and global investors, and to establish a comprehensive cooperation system necessary for policy response and corporate support among representative economic organizations.

Taking this MOU signing as an opportunity, the three organizations plan to strengthen their policy response capabilities, actively discover and carry out specific joint tasks such as presenting government opinions on establishing domestic ESG evaluation standards and preparing manuals to support companies' voluntary due diligence.

Son Kyung-sik, Chairman of the Korea Employers Federation, said, "Although we have established a two-track response system with the recent launch of the ESG Management Committee and the opening of ESG practical training courses, collaboration among economic organizations is important for policy development and response. In a situation where there is a lack of social consensus on the concept of ESG, this will be an opportunity to unite the policy capabilities of economic organizations so that ESG management can lead to enhanced corporate value."

Jung Gu-yong, Chairman of the Korea Listed Companies Association, said, "In 2022, the obligation to disclose corporate governance reports was expanded to listed companies with assets exceeding 1 trillion won, and from 2025, the obligation to prepare and disclose sustainability management reports will be added. The demand for information disclosure on listed companies is increasingly strengthening, which is a considerable burden, but we sympathize with the global policy direction called 'ESG management,' and we will also strive to ensure that incentives are provided to companies that excel in ESG management."

Jang Kyung-ho, Chairman of the KOSDAQ Association, also said, "With the domestic spread of the global ESG trend, KOSDAQ companies, which are small and venture businesses, are feeling considerable confusion. Through this MOU, we plan to seek practical support measures for ESG management so that ESG acts not as a burden on business activities but as a good opportunity to improve corporate health and prepare for the future."