Namdong Power Co. Contributes 100 Million KRW to ESG Response Win-Win Cooperation Fund for Partners... Collaboration with the Win-Win Partnership Committee
[Asia Economy Reporter Kim Bo-kyung] Korea South-East Power Co., Ltd. is partnering with the Korea Commission for Corporate Partnership to contribute a win-win cooperation fund of 100 million KRW to enhance the ESG (Environmental, Social, and Governance) response capabilities of small and medium-sized partner companies.
On the 9th, the Korea Commission for Corporate Partnership signed an agreement with Korea South-East Power regarding this partner company ESG support project. Korea South-East Power will contribute a fund of 100 million KRW to improve the ESG response capabilities of SMEs, while the Commission will provide comprehensive support including the development of customized ESG evaluation indicators, ESG education and capability diagnosis, consulting, and evaluation.
The Commission plans to apply the revised "Commission for Corporate Partnership SME ESG Standard Guidelines," which reflect the latest ESG trends such as the K-ESG guidelines and the Serious Accidents Punishment Act, starting from this year's project.
Korea South-East Power was the first public enterprise to introduce the metaverse virtual space "KOEN Village" for ESG management to discover ESG content, and recently published a white paper compiling excellent ESG management cases.
The win-win cooperation fund offers tax benefits such as corporate tax deductions and recognition as designated donations. The Commission plans to explore ways to expand the reflection of partner company ESG support performance in the public institution win-win growth evaluation.
Additionally, partner SMEs with excellent compliance rates with ESG evaluation indicators will be issued a "Certificate of Excellent ESG SME" under the Commission's name. Partner SMEs receiving the certificate will be provided with loan support and preferential interest rates from Shinhan Bank, IBK Industrial Bank of Korea, and BNK Kyongnam Bank.
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A representative of the Commission stated, "Through this support project, we hope that Korea South-East Power's partner companies will enhance their ESG management capabilities and lay the foundation to adapt well to the changing power industry ecosystem."
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