Truston Asset Management Donates 65 Million KRW to Domestic ESG Organizations

Lee Sung-won, Vice President of Truston Asset Management (Chairman of the Fiduciary Responsibility Committee, left), is delivering a donation of 15 million KRW for ESG initiatives to Kim Dae-seop, Secretary General of the Scientists Without Borders Association, at the Truston Building in Seongsu-dong, Seoul, on the 27th.

[Asia Economy Reporter Minji Lee] Truston Asset Management announced on the 28th that it donated 65 million KRW, which is 10% of the management fees generated from the ESG Value Creation Fund, to four organizations including Scientists Without Borders. While asset management companies sometimes donate a portion of their net profits, it is considered unusual to donate 10% of the fund management fees as in this case.

The ESG Value Creation Fund, established in October last year, makes long-term investments in domestic stocks with attractive ESG factors, and currently manages assets worth 85 billion KRW. Truston Asset Management stated, “We have fulfilled the promise made to investors at the time of the fund’s establishment,” and emphasized, “This is not a one-time event; we plan to donate 10% of the fund management fees to ESG-related organizations every year.”

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This year, the recipients by category are Scientists Without Borders for the E (Environment) sector, Yeomyeong School and Smile Foundation for the S (Social Responsibility) sector, and the Korea Corporate Governance Forum for the G (Governance) sector, totaling four organizations.

Scientists Without Borders, established to support developing countries, is especially well known for providing water purification facilities to water-scarce countries such as Tanzania. Yeomyeong School is an institution that educates North Korean defectors and children of North Korean defectors, and Smile Foundation is a nonprofit organization established to support oral health for people with disabilities. The Korea Corporate Governance Forum actively conducts research and investigations related to improving corporate governance.

Separately from this 65 million KRW donation, Truston Asset Management has been donating 1-3% of the company’s net profits annually since 2003, and the donation amount for this year is 128 million KRW.

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