Gas Safety Corporation Revamps Mid- to Long-Term Management Strategy... Includes 'ESG Management' in Key Strategies

Major Government Policies Reflected in 4 Strategic Directions and 12 Strategic Tasks, Including Energy Transition and Strengthening Public Service Ethics

[Sejong=Asia Economy Reporter Joo Sang-don] Korea Gas Safety Corporation announced on the 3rd that it has revamped its mid-to-long-term (2022?2026) management strategy to fully introduce ESG (Environmental, Social, and Governance) management based on the Korean New Deal and the 2050 Carbon Neutrality Promotion Strategy.

ESG management is a management strategy that emphasizes non-financial factors such as environment, society, and governance to ensure the survival and sustainability of a company. Recently, as ESG management has spread throughout society, both the private sector and public institutions are actively adopting it.

Through this revamp, the corporation raised the 2022 target for the fourth of its four mid-to-long-term management goals, "Achieving the Best Public Trust Institution," from grade 2 to grade 1.

Additionally, the previously established "4 Strategic Directions and 12 Strategic Tasks" were revised to reflect major government policies and environmental changes such as ESG management. The four strategic directions were renamed to appropriately reflect current trends like the post-COVID era and incorporate ESG management and eco-friendly principles, finalizing as ▲ New Normal Gas Safety Innovation ▲ Strengthening Inclusive Disaster and Social Safety Nets ▲ Leading Low-Carbon and Eco-Friendly Safety Industry ▲ Practicing Trusted ESG Management. The 12 detailed strategic tasks were revised by adding new tasks related to roles such as verifying carbon emissions trading and efforts toward eco-friendly energy transition, while strengthening areas like hydrogen infrastructure enhancement, public service ethics, and governance advancement.

To establish a foundation for ESG management, the corporation signed a joint declaration on ESG management with labor and management in September. In October of this year, it introduced a system allowing employee representatives to attend board meetings, breaking down barriers between labor and management and establishing a decision-making structure that enhances institutional transparency. Alongside this, in November, it enacted operational guidelines for the ESG Management Committee to promote the successful achievement and efficient operation of ESG management tasks.

A corporation official stated, "Based on this mid-to-long-term management strategy revamp, we will establish a stable governance structure, actively support government policies, and fulfill our role as a public institution to help spread ESG management to the private sector as well."