Gwangju Shinsegae Receives 'A Grade' in Evaluation by Korea ESG Standards Institute

Published 06 Nov.2023 11:51(KST)

Overall Evaluation Rises One Level Compared to Last Year

Gwangju Shinsegae Co., Ltd. (CEO Lee Dong-hoon) announced on the 6th that it received an A (Excellent) grade in the 2023 ESG comprehensive evaluation conducted by the Korea ESG Standards Institute, an ESG (Environment, Social, Governance) evaluation agency.

Gwangju Shinsegae achieved an A (Excellent) grade in the environmental sector, an A+ (Outstanding) grade in the social sector, and an A (Excellent) grade in governance, earning a triple ‘A’ and receiving a high overall evaluation of grade A.

Gwangju Shinsegae Receives 'A Grade' in Evaluation by Korea ESG Standards Institute

In particular, all sector grades improved by at least one level compared to last year, reflecting recognition of the company’s continuous efforts in ESG management.

In the environmental sector (E), the company was recognized for transparently disclosing environmental information on its website to communicate with stakeholders, using eco-friendly packaging materials, resource circulation activities such as recycling coffee grounds, eco-friendly social contribution activities, and efforts to improve environmental management among partner companies.

Especially in the social sector (S), which received a high A+ grade, the company expanded social information disclosure on its website, strengthened win-win growth programs including education and financial support for partner companies, protected consumer rights and enhanced satisfaction, and received positive evaluations from the local community through activities such as the ‘Love S-Box’, kimchi making, scholarship foundation sponsorship, and the island walking challenge in collaboration with the Island Promotion Agency.

In the governance sector (G), the company was able to receive a higher grade than last year by establishing a compensation committee, strengthening board leadership, and operating anti-corruption programs.

CEO Lee Dong-hoon stated, “As a result of promoting sustainable ESG management, our level improved compared to last year, and we received an overall evaluation grade of A. We will continue to actively manage ESG and improve our internal standards by promoting the internalization of ESG management.”

Meanwhile, the Korea ESG Standards Institute evaluates the ESG levels of domestic companies annually, announces ESG grades to encourage sustainable management, and supports capital market participants in recognizing companies’ ESG levels. This year’s evaluation covered a total of 987 companies, including listed companies and affiliates of large business groups.