[ESG Symposium] "Independent Corporate Governance Structure, Major Direction of ESG"

Kim Jong-hoon, Chairman of the Board of SK Innovation, is delivering a keynote speech on the topic "In the ESG Era, How Should We Respond?" at the '2021 Asia ESG Symposium' held on the 29th at the Westin Chosun Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporters Kim Hyewon, Jung Hyunjin] It was suggested that for Korean-style sustainable ESG (Environmental, Social, and Governance) management to take root in companies, boards of directors centered on outside directors must have strong authority and secure expertise.

Kim Jong-hoon, Chairman of the Board at SK Innovation, stated in his keynote speech at the ‘2021 Asia ESG Symposium’ held on the 29th at the Westin Chosun Hotel in Jung-gu, Seoul, "We need to quantify non-financial values such as ESG and establish evaluation standards to reach social consensus." ▶Related article on page 9

Chairman Kim emphasized, “Going forward, eco-friendly management is essential, and management that damages social values is unacceptable,” adding, “In particular, the major direction of ESG is to independently structure corporate governance.” The Asia ESG Symposium is an event recently expanded and reorganized from last year’s ‘Value-Up Symposium,’ which was first held by this publication to explore corporate social responsibility (CSR) management strategies, now focusing on the global hot topic of ‘ESG.’

Jo Hae-jin, co-chair of the National Assembly ESG Forum (Chairman of the National Assembly Education Committee), said in his welcoming remarks, "Over 140 ESG-related bills have been proposed in the 21st National Assembly," and added, "We will focus on legislation to ensure ESG is firmly established in our economy and corporate activities, enhancing global competitiveness and solidifying our position as a first-class economy by playing a positive role."

Following this, Lee Jeong-mi, Senior Counsel at Logos Law Firm (former Constitutional Court Justice), who gave the opening speech, stated, "Just as the constitution ensures the continuous preservation of values shared by the state and its people, it is important to maintain corporate sustainability through the ESG management paradigm," emphasizing, "The establishment of Korean-style ESG management will contribute to responding to and overcoming crises such as the current and future global environmental crises and the harms of capitalism, while securing the safety and freedom of the people."