• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • KTO
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • SGSC Global Bootcamp 2021
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • SGSC Demo Day
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • register
  • login
KoreaTechDesk
No Result
View All Result
KoreaTechDesk
No Result
View All Result
Home Clean Technology

Are Korean startups embracing the ESG system? 

James Jung by James Jung
March 30, 2021
in Clean Technology
1
ESG management is catching speed with more and more Korean startups adapting to it.

ESG management is catching speed with more and more Korean startups adapting to it.

0
SHARES
422
VIEWS
Share on FacebookShare on Twitter

The storm of the COVID-19 pandemic globally has fanned the flames for the continuing argument of shifting businesses towards a more sustainable and eco-friendly route. The concept of ESG –Environmental, Social, and Governance, which has been floating around for some time, has now accelerated broader interest. Worldwide industries, governments, and institutional investors are waking up to the need for ESG Management. 

KOSPI Listed companies to comply with ESG factors

In South Korea, the major corporates across the manufacturing sector are transiting towards a greener, sustainable process. Investors are taking account of non-financial factors like governance structures, employees welfare, social responsibilities, clear partnerships, and environment. Korea’s financial authorities has announced a comprehensive policy framework earlier in 2021 that obligates listed companies to disclose information on investment activities related to ESG standards. Firms listed on the benchmark exchange KOSPI with total assets value over 2 trillion won ($1.81 billion) or more are requested to release their ESG data from 2025 until 2030, and then the compliance will be expanded to all listed businesses. 

According to experts in the global business world, Korean startups and entrepreneurs, who want to create resilient businesses that can withstand the tough times of global public health crisis, climate crisis, and economic downturns, should prioritize the path to sustainability. Also, more and more international investors are using ESG factors as analytic tools to invest in startups. So, what seems like the future path for Korean startups is to adapt the sustainability methods as soon as possible. 

Startups following the sustainability path

While the Korean government, investors, and corporates promote ESG management, more and more Korean startups are getting their sustainability system on board. The Seoul City authority has founded the Sustainable Development Commission to support actions of Korean startups that are working towards a sustainable environment and a greener, healthier society. Korea Investment Corporation announced that it would raise its ESG themed investments in startups in 2021.

Korean tech entrepreneurs are coming with unique concepts focussed on sustainability, zero waste, social development, and minimalism. A Seoul-based startup Zikooin is a fine example of making sustainable alternatives for meat. The startup has developed a technology that turns grains, oats, and nuts into an alternative to the famous Korean-style beef – Unlimeat. The company has attracted $ 4 billion of investments from US venture capital for its sustainable efforts.

Startups like Montsenu use discarded PET bottles to make clothes and fashion items. Forsys Engineering has developed high-tech services for cleaning debris from the ocean, agri-tech startup N.Thing has developed smart farm solutions. All these startups that have adapted eco-friendly technologies have got investors’ interest. 

Also, startups are complying with the government directive to have ECG management on board. Korean Video game developer company NCSoft Corporation is the first gaming company in Korea to have established the ESG (Environmental, Social, and Governance) Management Committee with the aim to support sustainable business activities.

Korea Corporate Governance Service offers ESG evaluations for listed companies.
A startup like ‘Who’s Good’ helps investors and businesses through their platform that analysis ESG data for financial risk. Who’s Good’s platform collects environmental, social, and governance data and analyzes and provides performance ratios for businesses. The startup offers solutions for ESG management analytics, visualize data and build reports.

While the Korean government aims to reduce its emissions by 2030 through various sustainability measures, the Korean startups too are bringing in innovation to tackle the multiple threats that the climate crisis poses to humankind. However, the path to a better sustainable world is a long journey.

Also Read, 

  • Korean startup Vogo safeguarding environment with its eco-friendly vessels for the marine industry
  • COMEUP 2020 Day 1: Panel Discussions & Talks on COVID-19 challenges, post-COVID-19 changes, Digital Healthcare, Governance & Environment 
  • Seoul Global Startup Center (SGSC) Demo Day successfully streamed; Environment Tech, EduTech startups win (Opens in a new browser tab)
What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: EnvironmentalESGGovernanceInvestorsKorean GovernmentSocialStartups
Previous Post

News in Brief from South Korea: Startups, business, economy, finance, technology & more

Next Post

KoreaTechDesk launches Monthly Pitch sessions for promising Korean startups 

Next Post
KoreaTechDesk launches Monthly Pitch sessions for promising Korean startups 

KoreaTechDesk launches Monthly Pitch sessions for promising Korean startups 

0 0 votes
Article Rating
Subscribe
Login
Notify of
Please login to comment
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback
Lincoln Georgis
1 month ago

Lincoln Georgis

[…]Here are some of the websites we recommend for our visitors[…]

0
No Result
View All Result

Follow Us

FREE NEWSLETTER

Ecosystem Partners




PRODUCTS

Most Popular

  • 10 K-Dramas to watch for some ‘money matters’

    0 shares
    Share 0 Tweet 0
  • Top Korean Dating apps that can help you make new connections in South Korea

    1 shares
    Share 0 Tweet 0
  • Three Restaurant Apps to try out for a fine dining experience in South Korea  

    9 shares
    Share 9 Tweet 0
  • Korean startups to showcase technological proficiency at CES 2023 from January 5 to 8 in Las Vegas 

    0 shares
    Share 0 Tweet 0
  • Seoul Robotics aims for an IPO in 2025, post-Series B funding of $ 25 million

    0 shares
    Share 0 Tweet 0
  • Korean startups creating the K-Beauty buzz worldwide

    11 shares
    Share 11 Tweet 0
  • BANF’s Autonomous Truck Tire Monitoring System to revolutionize the tire industry with its smart sensor system

    0 shares
    Share 0 Tweet 0
  • Korean EV charging solution company Pluglink signs investment contract with KDB Infrastructure Asset Management

    0 shares
    Share 0 Tweet 0
  • Elinha, that operates a K-beauty platform for Japanese consumers, attracts investment

    0 shares
    Share 0 Tweet 0
  • Korean Webtoon companies that are giving the audience addictive content

    15 shares
    Share 0 Tweet 0
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KTO
    • KOTRA
    • MSS
    • NIPA
    • SBA
    • SFL
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
    • SFL Global Program
    • KTO Global Showcase
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2023 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact: [email protected] DMCA.com Protection Status

wpDiscuz
1
0
Would love your thoughts, please comment.x
()
x
| Reply

We hope you enjoy our content, May you please give us Feedback regarding our website!

Single Post Feedback

dgdfgfdgdf

What you think about Koreatechdesk, Share your idea with us!

feedback popup

Invitation submission has been closed

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.