SC Jeil Bank, Awarded 'KCGS Governance Excellence Company' for 2 Consecutive Years

On the 3rd, at the 2021 KCGS (Korea Corporate Governance Service) Governance Excellence Awards ceremony held at the Korea Exchange main building conference hall in Yeouido, Seoul, Park Jong-bok, CEO of SC First Bank (right), is taking a commemorative photo after receiving the Governance Excellence Grand Prize from Sohn Byung-doo, Chairman of the Korea Exchange. Photo by SC First Bank

[Asia Economy Reporter Song Seung-seop] SC First Bank announced on the 6th that it received the sole Grand Prize as an excellent governance company at the ‘2021 KCGS Governance Excellence Awards’.

The awards ceremony held on the 3rd at the Korea Exchange in Yeouido, Seoul, was conducted targeting a total of 1,005 companies (894 general listed companies and 111 financial companies). SC First Bank received the highest evaluation among these companies and was selected as the overall governance grand prize winner. The Korea Corporate Governance Service (KCGS) explained the reason for the award selection, stating, “SC First Bank has established a stable ESG (Environmental, Social, Governance) management system centered on a board of directors with high independence, expertise, and dynamism.”

Specific grounds included ▲ ESG expertise of the board ▲ establishment of a board-centered ESG management system such as ESG risk management at the risk management committee level ▲ appointment of a female board chair and a high proportion of women on the board, laying a mid- to long-term foundation for board diversity ▲ activation of a discussion culture within the board ▲ active support from the company for outside directors to fully demonstrate their expertise in board activities ▲ active and independent board operation ▲ establishment of a sustainable management incentive system for the CEO ▲ stable board succession to continuously promote a sound board culture.

SC First Bank won the overall grand prize in the governance category for two consecutive years following last year. It also became the only commercial bank to receive an A+ governance rating for three consecutive years.

Park Jong-bok, President of SC First Bank, emphasized, “As a bank where customer trust is life itself, winning the governance grand prize for two consecutive years is more valuable than any other award,” and added, “As a company leading proper governance and sustainable management culture, we will take pride and responsibility and continue to strive to establish a desirable governance culture and a stable ESG management system.”

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