Kiwoom Asset Management Establishes Internal Evaluation Method for ESG Ratings of Unlisted Companies
[Asia Economy Reporter Minji Lee] Kiwoom Asset Management announced on the 9th that it has established an internal ESG evaluation method for unlisted companies, enabling the operation of bond funds with various strategies.
Previously, Kiwoom Asset Management announced plans to expand investments through the launch of various strategy funds by upgrading its bond ESG evaluation system. The company explained that the ability to internally generate proprietary ESG ratings in the domestic market environment, where standardized ESG rating calculation is difficult, can be interpreted as having ESG capabilities comparable to those of global overseas asset managers.
Kiwoom Asset Management has assigned sector and credit analysts, who are well-versed in corporate analysis, to continuously evaluate the ESG levels of unlisted companies not assessed by external evaluation agencies. This is expected to help prevent greenwashing.
Kim Seong-hoon, CEO of Kiwoom Asset Management, stated, “We have reached a level where we can make comprehensive judgments related to ESG investment using our own system,” adding, “The core of ESG investment lies in internalizing ESG evaluation, and based on this, we plan to complete the ESG investment infrastructure within this year.”
The scale of Kiwoom Asset Management’s ESG-related investment funds is approximately 3.6 trillion KRW. As of the first quarter of this year, the company plans to secure additional specialized personnel to utilize ESG investment strategies and expand funds, and to operate a dedicated organization in the second quarter to further enhance expertise. Among public funds, it manages the ‘Kiwoom Olbareun ESG Fund’ (42.8 billion KRW) and the ‘Kiwoom Future Energy Fund’ (20.6 billion KRW), among others.
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Finally, CEO Kim added, “With the increase in long-term investments and the rapid industrial change cycle in the financial investment market, demand for investment in sustainable companies will continue to expand,” emphasizing, “We plan to continuously expand ESG managed assets based on strengthened risk management systems.”
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