[Asia Future Business Forum] Ju Youngseop "In the Era of Ultra-Change and Great Transformation... Holistic Change is the Way to Survive"

'Why Net Zero and ESG Matter Now' Lecture
"Both ESG and Net Zero Aim to Achieve Growth and Environmental Goals"

Professor Ju Young-seop, Special Appointment Professor at the Graduate School of Engineering, Seoul National University, is giving a lecture at the '2022 Asia Future Business Forum' held on the 27th at the Westin Chosun Hotel in Jung-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Yoo Hyun-seok] "The world is rapidly changing in all aspects such as the 4th Industrial Revolution, ESG (Environmental, Social, Governance) and social value management, and carbon neutrality. As adaptability to change becomes a condition for survival, comprehensive change is the way to thrive."

Joo Young-seop, Specially Appointed Professor at the Graduate School of Engineering, Seoul National University, said this on the 27th at the '10th 2022 Asia Future Business Forum' held at the Western Chosun Hotel in Seoul.

Professor Joo delivered a lecture titled "Why Net Zero and ESG Are Important Now." He evaluated that with the occurrence of digital transformation (DX), business models of companies are also undergoing a revolution. Professor Joo said, "The main impact of the 4th Industrial Revolution and DX on companies is the business models created by technological innovation," adding, "As business model innovation becomes the top priority, such as shifting from mass production and consumption to customized production, securing speed and flexibility competitiveness comprehensively is important."

He explained that digital transformation is closely related to net zero. In the past era of mass production, problems such as excess inventory occurred. However, with the shift to customized production, unnecessary items are reduced. In other words, it is about turning unsustainability into sustainability. He emphasized, "Only by moving in this direction can sustainability be enhanced, ultimately impacting net zero."

Professor Joo presented the directions for promoting business model innovation for companies as ▲Data ▲ESG ▲Collaboration. He especially emphasized ESG-based business model innovation. He said, "The MZ generation (born in the 1980s to 2000s) is rising, and they are sensitive to environmental and social issues and fairness," adding, "With the climate crisis and governments responding to social polarization through 'inclusive capitalism,' ESG is becoming a survival and success factor for companies as well as a new spirit of the times." He further added, "ESG management is the core of business model innovation."

Finally, he stressed that since both ESG and net zero aim to achieve growth and environment together, it is not something that anyone can do alone but must be done collectively.