Five Organizations Including SH Corporation Promote ESG Cooperation Model... Creating Green Spaces on Idle State-Owned Land

Contributing to Carbon Neutrality
Through Kenaf Cultivation

From the left, Sangha Hwang, President of Seoul Housing and Communities Corporation (SH Corporation), Jangseok Oh, Executive Director of Korea Asset Management Corporation (KAMCO), Seongmyeong Cho, Mayor of Gangnam District Office, Mikyung Lee, CEO of the Environmental Foundation, and Hyunsik Yoon, Headquarters Director of Korea Environment Corporation, are posing for a commemorative photo after signing an agreement on the 20th. SH Corporation

On May 20, Seoul Housing and Communities Corporation (SH Corporation) announced that it will actively pursue collaborative projects to promote Environmental, Social, and Governance (ESG) management through a memorandum of understanding (MOU) with Gangnam District Office, Korea Asset Management Corporation (KAMCO), Korea Environment Corporation, and the Environmental Foundation.

Through this agreement, the five organizations will create green spaces and operate environmental education and citizen participation programs by utilizing idle state-owned land in Yulhyeon-dong, Gangnam District.

In particular, they will cultivate Kenaf, an eco-friendly plant known for its excellent carbon absorption and fine dust reduction capabilities, on a site of approximately 5,434 square meters. Various citizen-participation environmental education programs, such as craft experiences using Kenaf, will also be offered. Kenaf is a representative eco-friendly crop with a carbon absorption capacity ten times higher than that of oak trees and a fine dust reduction effect sixty-six times greater than that of corn.

In addition, the organizations will cooperate in various ways, including donation support, participation of volunteer personnel, promotional activities, and community engagement initiatives. The project will officially begin at the end of this month, with plans to hold a Kenaf harvest event and community return activities in October.

Sangha Hwang, President of SH Corporation, stated, "This agreement is a model case of ESG cooperation utilizing idle state-owned land, marking a meaningful starting point for the public and private sectors to jointly create a sustainable city." He added, "We will continue to actively expand ESG projects that citizens can truly experience."