Jinju City Council Launches ESG Promotion Research Group ... Research Activities Begin in Earnest

Launching ESG Policy Research
to Enhance Regional Business Competitiveness

The Jinju City Council member research group, "Jinju City ESG Vitalization Research Association," in Gyeongnam, has officially begun its research activities.

This research association, led by Jinju City Council member Choi Jiweon, and joined by Seo Jeongin, Yoon Seonggwan, Lim Gihyang, Kim Hyeongseok, and Choi Hoyeon, was established last month to conduct policy research related to ESG management, which has rapidly emerged as a key standard for evaluating the growth potential of sustainable businesses.

Group photo of the Jinju City Council ESG Activation Research Group inauguration ceremony.

ESG is a non-financial corporate evaluation standard, an acronym for "Environmental," "Social," and "Governance." It was first mentioned in a 2004 UN report and has gained increasing attention, especially following the COVID-19 pandemic. Larry Fink, CEO of the world's largest asset management firm BlackRock, has also stated that ESG management is a core factor in corporate investment decisions.

The research association plans to focus its efforts on developing mid- to long-term response strategies for Jinju City and local SMEs to meet ESG standards. Key activities will include ESG policy learning and discussion, exploring ways to introduce ESG administration linked to Sustainable Development Goals (SDGs), ESG administrative site visits to local governments, and hosting the Jinju City ESG Symposium. The emphasis will be on developing policies that can be immediately applied within the local community.

The launch ceremony held on the 14th also featured a special lecture by Professor Kim Taeyoung, Vice Dean of the College of Agriculture and Life Sciences and professor in the Department of Food and Resource Economics at Gyeongsang National University. Professor Kim spoke on "Climate and Natural Capital Disclosure and ESG Management," explaining the importance of ESG disclosure and response strategies for local governments and businesses.

Representative Choi Jiweon stated, "ESG is an essential factor for sustainable development, so local governments must take proactive and active measures. Together with my fellow council members, I will do my best to ensure that our research group develops and delivers effective ESG policies tailored to the characteristics of our region."