SKT Launches 'ESG Korea' Alliance to Support Startups

[Asia Economy Reporter Seolgina Jo] SK Telecom has formed an alliance to support domestic startups in ESG (Environmental, Social, and Governance) management.

According to SK Telecom on the 29th, the accelerator alliance 'ESG Korea 2021,' which supports the challenges and growth of startups in the ESG field, includes eight companies: SK Telecom, Microsoft (MS), SAP, Sopung Ventures, HGI, Venture Square, SK Social Entrepreneur Center, and SBA Seongsu Hub.

These eight companies agreed that for domestic startups to grow into influential companies in the global market, they must quickly internalize ESG management capabilities and help create social value with industry-specific partners. Up to 15 teams will be selected through a public contest by June 6, and mentoring and workshops will be conducted for six months starting in the second half of the year.

Going forward, ESG Korea 2021 will support various ICT-based solutions for startups aiming to solve diverse social issues. It also plans to connect startups with expert groups, investment company officials, and ESG performance measurement institutions to help startups proactively lead from ESG goal setting to service development, market entry, and global expansion.

Specifically, SK Telecom will provide startups with ESG management strategy establishment and business information based on its ICT infrastructure and startup support programs. SAP, a global enterprise software company, plans to support startups aiming to enter the business-to-business (B2B) software market. Additionally, startup investment specialists such as Sopung Ventures and HGI will offer mentoring on social value creation methods, and SBA Seongsu Hub will provide office space to startups targeting ESG management.

Nam Bohyun, CEO of HGI, stated, “As an impact-focused investment institution, we plan to actively utilize our know-how in nurturing both the financial and social value of startup teams to support startups.” Yeo Jiyoung, head of SK Telecom’s Open Collaboration, said, “ESG Korea 2021 is a program that collaborates with companies possessing the highest level of expertise in startup ESG management both domestically and internationally. We plan to help ICT startups establish ESG management and expand their positive influence on society through healthy growth.”

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