Hyundai Department Store Signs Business Agreement with Korea University... "Responding to Climate Crisis and Practicing ESG Values"

Plan to Donate a Total of 300 Million KRW by 2024

At Korea University Centennial Memorial Hall in Seongbuk-gu, Seoul, Kim Hyung-jong, President of Hyundai Department Store (right), and Jeong Jin-taek, President of Korea University, are posing for a commemorative photo after signing a business agreement.

[Asia Economy Reporter Lim Chun-han] Hyundai Department Store announced on the 18th that it has signed a business agreement with Korea University to respond to the climate crisis and practice ESG (Environmental, Social, and Governance) values.

Through this business agreement, Hyundai Department Store will participate in a support project for vulnerable groups affected by the climate crisis, jointly promoted by government agencies such as the Ministry of Environment and the Korea Climate and Environment Network, as well as civic groups, together with Korea University.

Next month, Hyundai Department Store plans to deliver food, beverages, and daily necessities to about 700 residents of the Changsin-dong and Donui-dong shantytowns in Jongno-gu, Seoul, together with Korea University’s Social Contribution Center and students. An idea contest to support vulnerable groups against heatwaves will also be held.

Hyundai Department Store plans to sponsor a total of 300 million KRW over three years until 2024 for Korea University’s social contribution activities in the climate and environmental fields, as well as research on practicing and spreading ESG values.

Jung Jin-taek, president of Korea University, stated, “We will develop and operate ESG-related volunteer activities and contribution programs that our students can participate in, and promote linking and expanding technology- and research-based social contribution programs with ESG by utilizing world-class research capabilities.”

Kim Hyung-jong, president of Hyundai Department Store, said, “Since the damage caused by the climate crisis inevitably affects socially vulnerable and disadvantaged groups first, we plan to continue our interest and support activities for them. We will create a new industry-academia cooperation model that practices ESG management values by utilizing the infrastructure of our company and Korea University.”

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