GKL Launches ESG Committee

Grand Korea Leisure (GKL) is holding an ESG Committee meeting.

[Asia Economy Reporter Donghyun Choi] Grand Korea Leisure (GKL) announced on the 28th that it held the '1st GKL ESG (Environment, Social, Governance) Committee' meeting on the 27th and will embark on full-scale ESG management with the launch of the committee.

The ESG Committee is part of board-centered responsible management aimed at expanding the participation of outside directors and strengthening their roles. The GKL ESG Committee is chaired by GKL President Kim Young-san and consists of six members, including internal and external directors and external experts related to ESG. Going forward, the ESG Committee will carry out tasks such as ▲ deliberation on ESG policies and related matters ▲ consultation on ESG management strategies and implementation plans.

Prior to the meeting, GKL also held a certificate presentation ceremony for joining the United Nations Global Compact (UNGC). The UNGC is a voluntary corporate citizenship initiative under the United Nations launched to promote sustainable development of the global economy through ESG management by global companies. It encourages companies to internalize the ten principles in the areas of ▲ human rights ▲ labor ▲ environment ▲ anti-corruption into their operations and management strategies to participate in enhancing sustainability and corporate citizenship awareness. More than 18,000 companies and institutions from 162 countries worldwide participate, and GKL became the 282nd member company in Korea.

President Kim Young-san stated, “ESG is not a choice but a timely challenge for public enterprises,” adding, “As a leading public enterprise in the tourism and leisure sector, GKL is fully prepared for ESG management and will lead ESG efforts in the industry.”

Earlier, in September, GKL jointly declared a labor-management win-win vision reflecting the commitment to ESG management. In October, together with the Korea Tourism Organization, it also made a joint declaration to practice ESG management, pledging eco-friendly practices in the tourism industry, strengthening win-win cooperation, and compliance management. This month, GKL laid the foundation for ESG management by becoming the first in the tourism industry to declare RE100 (Renewable Energy 100), replacing 100% of the electricity needed for corporate activities with renewable energy.