SM "Sustainable Management"... First in Domestic Entertainment Industry to Join UNGC

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] SM Entertainment announced on the 12th that it joined the United Nations Global Compact (UNGC) on the 5th, becoming the first Korean entertainment agency to do so.

The United Nations Global Compact is the world's largest voluntary international agreement that applies the 10 principles in the core areas of corporate social responsibility?human rights, labor, environment, and anti-corruption?to business operations, providing practical measures for sustainability.

With this UNGC membership, SM plans to internalize global standards throughout its management activities, actively fulfill its corporate social responsibilities, and publish an annual Communication on Progress (COP) report.

On the same day, SM's "metaverse girl group" aespa appeared as a global speaker representing the future generation at the United Nations 2022 High-Level Political Forum for Sustainable Development (HLPE). On the 5th (local time), aespa delivered a speech titled "Next Generation to the Next Level" at the UN General Assembly Hall in New York, USA.

At the event, aespa emphasized, "The metaverse world reflects the real world, and if reality is only depleted, it will be difficult to preserve the infinite possibilities of the virtual world," adding, "If a real world that sustainably maintains the Earth's ecosystem and provides equal opportunities for a quality life does not exist, then the metaverse world reflecting it will not exist either."

Earlier, SM became the first in the domestic entertainment industry this year to establish an "ESG Council" to discuss challenges and practical measures for sustainable growth across all business areas, including content planning and production, distribution, artist activities, and promotion. The working council holds meetings at least once a month, and key initiatives proceed with board approval. To strengthen ESG expertise, SM plans to conduct ESG education sessions more than twice a year and publish an annual "ESG Report."

As part of these efforts, the repackaged album "Beatbox" from NCT DREAM's second full-length album, released in May, was produced using eco-friendly materials. Additionally, aespa's second mini-album "Girls," released on the 8th of this month, used FSC-certified paper and was printed with soy ink. Girls has surpassed 1.61 million pre-orders, setting the highest pre-order record for a K-pop girl group and expanding positive influence.

SM CEO Lee Sung-soo stated, "Since K-pop has a great influence not only on K-pop fans but also on people worldwide, we will continuously consider and implement practices for SM's 'sustainable management' so that it can have a positive impact beyond Korea to people around the world."