Lotte Hi-Mart Signs Agreement with the Win-Win Growth Committee... "Supporting Partner Companies' ESG"

Contribution of 100 Million Won to Win-Win Cooperation Fund... Support for Over 20 Organizations

[Asia Economy Reporter Lim Chun-han] Lotte Hi-Mart announced on the 17th that it has signed an agreement with the Korea Commission for Corporate Partnership to participate in the ‘2022 Partner Company ESG (Environmental, Social, and Governance) Support Project.’

Following last year, Lotte Hi-Mart will contribute 100 million KRW to the Win-Win Cooperation Fund and select about 20 outstanding small and medium-sized partner companies to support the strengthening of their ESG capabilities. Based on the SME ESG standard guidelines developed by the Commission for Corporate Partnership reflecting the latest ESG trends such as the K-ESG guidelines and the Serious Accidents Punishment Act, customized ESG indicators will be developed by industry and company. ESG education and capability diagnosis will also be conducted for partner company employees. Subsequently, ESG management consulting and evaluation will be carried out through on-site inspections in connection with experts.

Partner companies with excellent compliance rates for ESG evaluation indicators will be issued a certificate of outstanding SME ESG performance under the name of the Commission for Corporate Partnership. Preferential interest rates from four banks including Shinhan Bank and Industrial Bank of Korea, export support services from the Korea Trade-Investment Promotion Agency (KOTRA), and environmental and energy technology support incentives from the Korea Institute of Energy Technology will be provided. Additionally, preferential benefits such as fund interest rate discounts operated by Lotte Hi-Mart, support for market development programs, and bonus points in regular partner company evaluations will also be offered.

A Lotte Hi-Mart official said, “We hope this support project will help small and medium-sized partner companies establish a foundation for ESG management activities,” adding, “We will continue win-win activities to help SMEs enhance their competitiveness.”