FKCCI Hosts ESG Management Seminar for K-Culture Companies
[Asia Economy Reporter Moon Chaeseok]
#tvN dramas such as 'Hospital Playlist Season 2' and 'Our Blues' have played a significant role in raising awareness about disabilities and organ donation. Last year, the 5th episode of the 12 episodes in 'Hospital Playlist Season 2' featured content related to organ donation. During the approximately six-week broadcast period, the number of organ donation registrations tripled compared to the same period the previous year.
#Entertainment agency JYP Entertainment (JYP Ent.) is not required to disclose ESG management information, yet it became the first domestic entertainment company to publish an ESG report and participate in K-RE100 implementation. Through JYP Entertainment’s social contribution brand 'EDM (Every Dream Matters!)', they fulfill wishes of children with incurable diseases and support medical expenses for low-income children both domestically and abroad. Since 2019, they have been practicing sharing by allocating as much as 3% of their operating profit.
On the 29th, the Federation of Korean Industries announced that it shared exemplary ESG management cases through the seminar 'The Present and Future of ESG Management in K-Culture Companies.' About 50 people attended the seminar, including Kwon Tae-shin, the full-time vice chairman of the Federation of Korean Industries; Lee Yong-ho, the People Power Party’s ranking member of the National Assembly’s Culture, Sports and Tourism Committee; Kim Yoon-duk, the Democratic Party’s ranking member; Ryu Young-jae, CEO of Sustainvest; Kim Jung-hoon, CEO of the UN SDGs Association; and executives from K-ESG Alliance member companies. The seminar aimed to share 'Excellent ESG Management Cases and Activation Plans in the Cultural Industry Sector.'
Lotte Chilsung Beverage (K-Food) has supported countries vulnerable to climate change and energy poverty. CJ ENM (K-Movie & Content) has spread the positive influence of content, and JYP Entertainment (K-Pop) has supported incurable diseases. These companies have been actively implementing ESG management to enhance the brand of South Korea among overseas consumers.
Vice Chairman Kwon said in his opening remarks, "The global content market, valued at $2.3417 trillion, about four times larger than the $595 billion semiconductor market, is a great opportunity as K-Pop, movies, dramas, and food attract worldwide attention." He added, "To further strengthen Korean soft power such as the Korean Wave, it is important for K-Culture companies to secure consumer trust through ESG management."
Lotte Chilsung Beverage is practicing 10 core ESG issues including carbon neutrality and eco-friendly packaging. Min Chang-yoon, head of the ESG team who presented, said, "Interest in K-Food is growing due to the spread of K-Content, and the growth of export flagship products such as Milkis and Soonhari continues." He added, "Under Lotte Chilsung Beverage’s ESG slogan of making the environment (E) better, society (S) new, and the company (G) healthy, we are practicing 10 core ESG issues."
Min emphasized, "We are developing health-functional products such as low-sugar and low-calorie to consider the health and nutrition of global customers, while gradually expanding ESG management not only domestically but also in overseas business sites." He also highlighted, "We continue various ESG campaigns for countries vulnerable to climate change and energy poverty, such as the 'Bangladesh Drinking Water Hygiene Improvement Project' and the 'Lighting Children Campaign.'"
CJ ENM plans content that meets social value standards based on the philosophy of 'ECO (Eco-balanced Content Production)' to elicit viewer empathy. They strive to bring about changes in awareness and behavior and improve social systems. By establishing eco-friendly studio centers that reduce carbon emissions and waste, and providing content that combines ESG and humanities, they also contribute to spreading environmental culture in daily life. Choi Kyung-jin, CJ ENM’s ESG officer, emphasized, "CJ ENM ESG’s goal is to create a more valuable world through attractive content."
JYP Entertainment plans to spread positive social influence together with its artists. Kim Hyun-ho, head of JYP Entertainment’s business team, explained, "Through EDM activities, we support the dreams of children with illnesses and expanded support overseas as well, providing medical expenses for 313 children in Vietnam, Mongolia, the Philippines, Bangladesh, and other countries last year." JYP Entertainment also conducts a music contest with social messages (SONGS THAT CARE), promotes environmentally friendly albums, and participates in the global environmental network '1% for the Planet.'
Experts emphasized the need to internalize the ESG spirit throughout content, as the cultural industry has a significant influence on the public. Kim Jung-hoon, CEO of the UN SDGs Association, a special consultative status organization to the UN Economic and Social Council, said, "With global governments and consumers showing high interest in ESG, issues such as supply chains, carbon reduction, industrial waste, and governance are impacting Korea’s cultural industry." He added, "Appropriate issue responses are necessary to gain trust not only in finance but also in overseas markets."
Ryu Young-jae, CEO of Sustainvest and moderator of the discussion, said, "ESG is the spirit of the global era," emphasizing, "To globalize K-Culture, it is necessary to internalize ESG in all cultural content."
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