KOTRA-Dongbanwi Join Forces to Promote ESG Management and Support Global Expansion of SMEs

The Korea Trade-Investment Promotion Agency (KOTRA) and the Fair Trade Commission have signed a memorandum of understanding to support the expansion of ESG (Environmental, Social, and Governance) management among small and medium-sized enterprises (SMEs) and their global advancement.

This agreement is a reorganization of the "Cooperation Agreement for the Expansion of ESG Management in Partner SMEs" signed by the two organizations in 2022. Its purpose is to assist SMEs struggling to cope with increasingly complex global ESG regulations and to expand practical overseas support for companies excelling in ESG management.

Through the Fair Trade Commission's ESG support projects, the two organizations will give preferential treatment to outstanding SMEs selected for KOTRA's overseas expansion services, and jointly hold ESG education sessions and forums. They will also share ESG policy trends from major countries such as the United States and the European Union, and operate training programs to prepare for global supply chain due diligence.

In June, they will jointly conduct the "Europe ESG Supply Chain Benchmarking Overseas Training." The plan includes visiting leading ESG companies in Germany and devising supply chain due diligence response strategies with local experts centered around KOTRA's overseas trade offices.

KOTRA President Kang Kyung-sung said, "ESG management is an essential condition for corporate sustainability," adding, "We will actively support SMEs so that their ESG achievements can serve as a lever for overseas expansion through this agreement."

Fair Trade Commission Chairman Lee Dal-gon stated, "This agreement provides practical assistance to SMEs actively responding to ESG," and added, "We will continue to strengthen cooperation with KOTRA to enhance SMEs' global ESG response capabilities."