"Embedding Social Value in Daily Tasks"... LH Conducts Comprehensive Internal Regulation Survey

417 Regulations Including Company Rules and Guidelines, Social Value Evaluation
Identifying and Addressing Improvements to Realize Social Value

[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 5th that it conducted a 'Social Value Impact Assessment' on a total of 417 internal regulations, including company rules and guidelines.

The Social Value Impact Assessment is a system that systematically analyzes and evaluates internal regulations from the perspective of realizing social value, which LH first introduced among public institutions in July 2018.

For this assessment, LH constructed an evaluation model based on 12 social values: ▲Human Rights Protection ▲Disaster Safety ▲Health and Welfare ▲Labor Rights Guarantee ▲Social Integration ▲Win-win Cooperation ▲Job Creation ▲Community Restoration ▲Contribution to Local Economy ▲Ethics and Responsibility ▲Sustainable Environment ▲Citizen Participation.

Subsequently, a total of 96 evaluation items were derived to assess the social value impact factors of internal regulations. Based on the evaluation, 252 internal regulations were classified according to the 12 types of social values and their connectivity was enhanced to internalize social values in everyday work processes.

For 55 internal regulations, improvement measures for realizing social value were identified and implemented. Major improvements include ▲Expanding the scope of housing repairs when supporting rental housing for vulnerable groups such as youth-headed households ▲Expanding safety and welfare facilities at construction sites ▲Ensuring anonymity for whistleblowers ▲Prioritizing the purchase of products from social economy organizations ▲Adding a code of ethical conduct for technical evaluation committee members, among others.

LH plans to continuously improve the evaluation system to ensure effective implementation of the identified improvements and to spread its own impact assessment system for realizing social value throughout the public sector.

Park Dongseon, Head of LH Future Innovation Office, stated, "We conducted this impact assessment to review and internalize all LH work processes from the perspective of realizing social value in order to achieve sustainable social value." He emphasized, "We will continue to realize social value for a better life and a better tomorrow for the people."

This content was produced with the assistance of AI translation services.