Saemaeul Geumgo Established in Fiji... Accelerating Global ESG Management

Park Cha-hoon, President of the National Credit Union Federation of Korea (right), is taking a commemorative photo with Inia Seruiratu, Minister of Agriculture and Rural Development of Fiji.

[Asia Economy Reporter Bu Aeri] Park Cha-hoon, Chairman of the Saemaeul Geumgo Central Association, met with the Minister of Agriculture and Rural Development of Fiji to discuss regional development.

According to Saemaeul Geumgo on the 25th, as the Saemaeul Geumgo model has successfully established itself in Myanmar, Uganda, Laos, and other countries, preparations have begun to introduce this model in Fiji as well. Last month, a local workshop was held in Suva, the capital of Fiji, to deepen understanding of regional development through Saemaeul Geumgo.

Saemaeul Geumgo is promoting ESG (Environmental, Social, and Governance) management in celebration of its 60th anniversary next year. Aiming to be a community-based financial platform, it has designated four core areas?'Social MG,' 'Green MG,' 'Human MG,' and 'Global MG'?to carry out social contribution projects.

In July, the ESG Management Committee was launched. Under the mission of "Happy Communities Created by MG," it plans to sequentially establish MG-type ESG models in the second half of this year.

In particular, international development cooperation projects are the flagship initiatives of 'Global MG.' The goal is to spread the Saemaeul Geumgo platform to developing countries to overcome poverty and eliminate financial blind spots.

Through savings promotion campaigns and financial education, it leads the formation of basic capital in local communities and contributes to improving the quality of life in target countries through various educational and poverty relief activities. Currently, 56 Saemaeul Geumgo branches have been established and are operating in Myanmar, Uganda, Laos, and other countries. Based on this experience, Saemaeul Geumgo is expanding its international cooperation targets to Fiji and Cambodia.

The Saemaeul Geumgo international development cooperation project model was selected last year as a major case of Korea's Official Development Assistance (ODA) by the Office for Government Policy Coordination, and it also received the Presidential Citation at the first government awards for development cooperation contributors held on International Development Cooperation Day.

Chairman Park said, "International development cooperation projects are core social contribution initiatives of Saemaeul Geumgo's ESG management," adding, "We will ensure that Saemaeul Geumgo establishes itself as a successful financial inclusion platform in developing countries."

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