[ESG Symposium] Lee Jung-mi "ESG Management Aligned with Constitutional Spirit Requires Standard Discussion"

Lee Jung-mi, Senior Counsel at Logos Law Firm (former Constitutional Court Justice), is delivering the opening speech 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 Reporter Jeong Hyunjin] Lee Jung-mi, Senior Counsel at Logos Law Firm (former Constitutional Court Justice), stated that ESG (Environmental, Social, and Governance) management aligns with the spirit of the Constitution, emphasizing the necessity of contemplating and discussing Korean-style ESG management standards to sustain corporate sustainability through the ESG management paradigm.

On the 29th, Lee made these remarks during the opening speech at the '2021 Asia ESG Symposium' held at the Westin Chosun Hotel in Jung-gu, Seoul. She evaluated, "As financial institutions begin to consider ESG, companies that ignore ESG may face difficulties in financing such as loans. It is no exaggeration to say that an era where non-financial factors like ESG are as important as financial factors has dawned."

Lee said, "The preamble of our Constitution declares that based on autonomy and harmony, the free democratic basic order is to be further solidified, ensuring equal opportunities for all in political, economic, social, and cultural spheres, enabling the fullest development of abilities, fulfilling responsibilities and duties accompanying freedom and rights, thereby contributing to the equal aspects of citizens' lives, permanent world peace, and the common prosperity of mankind." She added, "This is not different from the ultimate direction that each ESG component?environment, society, and governance?should pursue, and I believe ESG is closely connected to the spirit of our Constitution."

She continued, "Korean-style ESG management can be seen as aiming to improve citizens' lives, contribute to permanent world peace and common prosperity of mankind as proclaimed by our Constitution, thereby eternally securing our safety, freedom, and happiness." She stressed that the form, content, and evaluation criteria of Korean-style ESG management must be shaped through continuous review and discussion.

Lee also stated, "The establishment of Korean-style ESG management will contribute to responding to and overcoming the current and future global crises, including those caused by capitalism's drawbacks, and securing the safety and freedom of the people." She emphasized, "It is very important to maintain corporate sustainability through the ESG management paradigm." She added, "It is essential to contemplate and discuss Korean-style ESG management standards. I hope that discourse on Korean-style ESG will contribute to establishing ESG management in our country and that today's discussions will eventually be recognized as global ESG standards."