"CJ OnStyle, Partnering for Growth: Launch Ceremony of New ESG Management Policy 'YesGo'"

Expressing Commitment to Building ESG Industrial Ecosystem by Inviting Outstanding Partners
Establishment of Support System to Strengthen Partners' Own ESG Management
Continuous Expansion of Co-Growth Projects Including R&D Support and Incentives

On the 8th, CJ OnStyle held the 'Partners Club 2022' and hosted the inauguration ceremony for the new ESG management policy, 'Yesgo.' Yoon Sang-hyun, CEO of CJ OnStyle (fifth from the left in the back row), and executives from partner companies are posing for a commemorative photo.

[Asia Economy Reporter Yuri Kim] CJ OnStyle announced on the 9th that it held a ceremony on the 8th to launch its new ESG (Environmental, Social, Governance) management policy called 'YESGO.' Through this ceremony, CJ OnStyle announced detailed policies for co-growth with its partners and promised active support to strengthen the ESG management self-sufficiency of its partners.

The event was attended by Yoon Sang-hyun, CEO of CJ OnStyle; Lee Woo-jin, Head of Management Support Office overseeing CJ OnStyle's ESG strategy; and executives from about 20 outstanding partner companies of CJ OnStyle.

YESGO signifies the commitment of society ('Y'OU) and OnStyle ('O'NSTYLE) to jointly practice ESG management. Starting from the YESGO launch ceremony, CJ OnStyle plans to carry out activities to advance ESG management within the industrial ecosystem. YESGO includes establishing systems to support partners' independent ESG management and expanding support for co-growth between CJ OnStyle and its partners. The plan also encourages customers' socially responsible consumption and promotes the sale of eco-friendly products by partners to expand the ESG consumption ecosystem.

YESGO includes a support project worth approximately 10 billion KRW for small and medium-sized enterprises (SMEs). A support system has been established to help SME partners independently practice ESG management. Through an integrated ESG support project that provides comprehensive education and consulting on ESG management to SMEs, eco-friendly packaging support that encourages the use of environmentally friendly packaging materials through cost reimbursement, and an ESG certification support project that assists in obtaining standard ESG certifications such as 'ISO14001,' CJ OnStyle aims to improve SMEs' awareness of ESG management and strengthen their capabilities.

Additionally, for co-growth with partners, CJ OnStyle will support ▲R&D cost assistance ▲strengthen ESG evaluation factors when selecting companies eligible for performance-sharing incentive programs. The company will also increase support for ▲startup and entrepreneurship support for nurturing excellent companies, and participation in global conventions such as KCON and MAMA to help SMEs explore overseas markets. Along with a loan support system through a 60 billion KRW win-win fund with Industrial Bank of Korea, the company expects this to serve as a catalyst for the development of its partners.

In customer purchasing activities, CJ OnStyle plans to promote 'value consumption' by activating upcycling campaigns that allow customers to practice donations along with purchasing eco-friendly products. Last year, CJ OnStyle conducted the upcycling campaign THINKS TO THINGS for its dining kitchen brand Odense. This campaign involved redesigning products with minor defects but no functional issues into new products sold at reasonable prices, with a portion of the proceeds donated to neighbors in need.

Yoon Sang-hyun, CEO of CJ OnStyle, said, "We held this launch ceremony to declare our commitment to co-growth with partners and the ESG management policy, which is the global paradigm of corporate management. We will actively implement YESGO with a sense of mission to establish a model ESG management system for co-growth between large distribution companies and small and medium-sized partners."

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