Ahn Cheol-soo "Efforts to Support New Government's ESG Management" Choi Tae-won "Government and Companies as One Team" (Comprehensive)

KCCI ESG Innovation Growth Special Forum

The Korea Chamber of Commerce and Industry held a special roundtable on ESG innovative growth on the 29th at the Korea Chamber of Commerce and Industry Hall on Sejong-daero. Ahn Cheol-soo, Chairman of the Presidential Transition Committee (third from the left), and Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry (fourth from the left)

[Asia Economy Reporter Oh Hyung-gil] Ahn Cheol-soo, chairman of the Presidential Transition Committee, stated on the 29th that he will strive to achieve results in corporate ESG (Environmental, Social, and Governance) management under the new government, meeting with business leaders including Choi Tae-won, chairman of the Korea Chamber of Commerce and Industry.

Chairman Ahn made these remarks while attending the 'ESG Innovation Growth Special Roundtable' held at the Chamber of Commerce and Industry building in Jung-gu, Seoul, on the morning of the same day.

The roundtable was attended by CEOs of Korea's top 10 conglomerates, including Chairman Choi Tae-won, Samsung Electronics President Lee In-yong, Hyundai Motor President Gong Young-woon, SK SV Chairman Lee Hyung-hee, Hanwha President Jo Hyun-il, as well as financial sector representatives such as KB Kookmin Bank President Lee Jae-geun and Shinhan Bank President Jin Ok-dong.

Chairman Ahn said, "My initial interest in corporate social responsibility and sustainability began 26 years ago when I founded a small company called 'AhnLab,'" introducing, "We developed the computer virus vaccine 'V3' and distributed it free of charge to the public as a public good, while charging companies to cover software development costs."

He added, "From the mid-2000s, the concept of CSR (Corporate Social Responsibility) became widespread. Seeing that, I thought, 'Ah, this is what I wanted to do,' and I felt a sense of fulfillment."

He continued, "Compared to past CSR, ESG has great significance in that its outcomes can be quantified. Companies that demonstrate outstanding ESG performance gain consumer trust, which helps profitability, and it is an excellent tool that can also increase returns for investors," he emphasized.

The Korea Chamber of Commerce and Industry held a special roundtable on ESG innovative growth on the 29th at the Korea Chamber of Commerce and Industry Hall on Sejong-daero. Ahn Cheol-soo, Chairman of the Presidential Transition Committee (left), and Choi Tae-won, Chairman of the Korea Chamber of Commerce and Industry

Chairman Ahn expressed his views on ESG, saying, "I believe there is still much room for development. The transition committee is also paying close attention. If you tell us how to provide institutional support, the committee will actively reflect it to ensure the new government can achieve proper and good results," promising.

Chairman Choi stated, "In the past, companies that exported a lot and paid a lot of taxes were considered good companies, but the role of companies has changed with the times. That is the topic called ESG," emphasizing.

He added, "ESG needs to be transformed from a regulatory burden into an opportunity to create new businesses," and "I hope the government and companies work as one team to enhance the sustainability of the Korean economy."

During the subsequent closed-door free discussion, business leaders reportedly requested the establishment of ESG policies focused on institutional support and incentives rather than regulation-centered policies. Specifically, they proposed expanding tax support for spreading ESG management, increasing ESG management support for small and medium-sized partner companies, establishing a permanent public-private communication channel, and reflecting corporate opinions when applying global ESG disclosure standards domestically.

Na Seok-kwon, director of the Social Value Research Institute, said, "Existing ESG subsidies are uniform in approach," adding, "There are no incentives to encourage earnest efforts. If proportional performance bonuses are provided based on positive outcomes, more companies and economic actors will contribute to carbon neutrality."

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