Kakao Pay Joins UN Sustainability Pursuit Organization, First in Fintech Industry

Joining UNGC... Publication of Related Reports and Community Support

Shin Won-geun, CEO of Kakao Pay (left), and Yoo Yeon-cheol, Secretary General of the UNGC Korea Association, are taking a commemorative photo at the Kakao Pay headquarters in Pangyo, Seongnam-si, Gyeonggi-do on the 13th. (Photo by Kakao Pay)

[Asia Economy Reporter Minwoo Lee] Kakao Pay has become the first fintech company to join the United Nations Global Compact (UNGC), a UN sub-organization that emphasizes and pursues sustainability.

On the 14th, Kakao Pay announced that it held a certificate handover ceremony for joining the UNGC the previous day at its headquarters in Pangyo, Seongnam-si, Gyeonggi-do.

The UNGC is the world's largest voluntary corporate sustainability initiative under the United Nations, aiming to enhance sustainability and corporate citizenship awareness. Currently, over 20,000 companies and organizations from 177 countries worldwide participate as members.

With this UNGC membership, Kakao Pay plans to internalize the 10 principles across four key areas throughout its corporate management and transparently disclose an implementation report (COP) detailing sustainable management performance to stakeholders such as users and local communities. Additionally, it intends to support financial education and financial services for financially marginalized groups and small business owners within local communities.

Shin Won-geun, CEO of Kakao Pay, stated, "Starting with this UNGC membership, we will responsibly implement ESG management that meets global standards," adding, "We will continue to embed social value at the company-wide level and take the lead in achieving sustainable growth for society."

Yoo Yeon-cheol, Secretary-General of the UNGC Korea Association, said, "Amid the global acceleration of digital transformation, Kakao Pay's participation as the first fintech company to join the UNGC holds special significance," and added, "We hope this will serve as an opportunity to further strengthen social responsibility and sustainable management and become a leading company in the fintech industry."