LG Uplus Selected as 'Excellent Governance Company' by KCGS

[Asia Economy Reporter Eunmo Koo] LG Uplus announced on the 3rd that it was selected as an excellent governance company at the 2021 KCGS Excellent Company Awards Ceremony hosted by the Korea Corporate Governance Service (KCGS).

KCGS is a leading ESG (Environmental, Social, and Governance) evaluation agency in Korea that has been assessing the sustainability management levels of domestic listed companies annually since 2003. This year, based on the evaluation results of the ESG Rating Committee, a total of 13 companies were selected, including 6 companies in the governance category and 7 companies in the ESG category.

LG Uplus was finally selected as an excellent company in the governance category. This is interpreted as a result of the high evaluation of its efforts to strengthen ESG management this year. Previously, LG Uplus received a comprehensive A grade in the ESG evaluation announced by KCGS, rising two levels compared to last year.

To strengthen ESG management this year, LG Uplus established an ‘ESG Committee’ within the board of directors and focused on enhancing governance by building a system capable of promptly responding to the company’s economic, environmental, and social issues. Under the ESG Committee, an ESG Working Council chaired by the Chief Financial Officer (CFO) was established to review mid- to long-term ESG issues across all departments and regularly report progress.

Additionally, to strengthen risk and crisis response management, LG Uplus appointed a Chief Risk Management Officer (CRMO) in June to oversee company-wide crisis management and established a Crisis Management Team under the CRMO. The Crisis Management Team operates the Crisis Management Committee and the Emergency Response Committee, playing a role in immediate crisis response. The company is also actively pursuing shareholder return policies. Following the acquisition of 100 billion KRW worth of treasury shares in June, LG Uplus diversified its shareholder return policies by introducing and implementing its first-ever interim dividend.

Park Hyung-il, LG Uplus CRO, said, “LG Uplus is proactively responding to potential risks and opportunities to systematically manage key ESG agendas,” adding, “We will continue to listen to and communicate with stakeholders for new growth and advancement.”