Ministry of SMEs and Startups Hosts ESG Management Innovation Expo... Launches 'Public-Private Joint Support Group'

Awards for 8 SMEs Adopting ESG Management
Support Team Provides Customized Diagnosis and Consulting for SMEs

The Ministry of SMEs and Startups announced on the 30th that it held the ‘2023 ESG (Environmental, Social, and Governance) Management Innovation Expo’ at the Conrad Hotel in Yeouido, Seoul.

Minister Lee Young of the Ministry of SMEs and Startups (right).
[Photo by Yonhap News]

At this Innovation Expo, eight small and medium-sized enterprises (SMEs) that proactively adopted ESG management despite difficult conditions were selected and awarded.

‘Daewoon Transportation,’ which received the Minister of SMEs and Startups Award, introduced hydrogen buses for the first time nationwide amid operating losses caused by the COVID-19 pandemic. It also overcame the crisis through ESG management by preferentially hiring vulnerable groups such as people with disabilities and female heads of households.

‘Hanul Saengyak’ developed biodegradable wet wipes without plastic components and was the first in the industry to apply the Environmental Product Declaration system. It was recognized for its efforts in product development and environmental creation for sustainable growth.

Meanwhile, as global ESG regulations such as the European Union (EU) supply chain due diligence are being strengthened, the Ministry of SMEs and Startups launched the ‘ESG Public-Private Joint Support Group’ with six private evaluation specialized institutions and the Korea SMEs and Startups Agency to establish a field-centered proactive support system. Participating organizations include NICE D&B, NICE Credit Information, Daishin Economic Research Institute, Samjong KPMG, eCredible, and Korea Evaluation Data.

The Joint Support Group plans to provide customized diagnosis by type and field-centered consulting to SMEs struggling with ESG management. If necessary, support will be linked with government projects such as research and development (R&D) and policy funds.

Lee Dae-hee, Director of the SME Policy Office at the Ministry of SMEs and Startups, said, “ESG management can be both a burden and a new opportunity for SMEs. We will actively support SMEs to respond in a timely manner.”

Kang Seok-jin, President of the Korea SMEs and Startups Agency, stated, “We will continue to discover public-private cooperation models and actively strive to create a solid ESG ecosystem for SMEs.”

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