Last month, Samsung Electronics launched a pop-up store named ‘SLBS Studio’ at The Hyundai Seoul in Yeouido. The store showcases the company’s ‘Samsung Eco-Friends’ accessories, made from eco-friendly materials, to promote sustainability. (Image courtesy of Samsung Elecs/Yonhap)
SEOUL, March 12 (Korea Bizwire) —Samsung Electronics is taking steps to incorporate environmental, social, and governance (ESG) practices into its upcoming 54th regular shareholders’ meeting.
The meeting, scheduled for March 15, will feature efforts to reduce paper usage by replacing mail related to the meeting with electronic announcements.
The initiative is expected to save approximately 35 million sheets of paper, which equates to protecting about 3,000 30-year-old trees. Electronic communication will also help to reduce carbon emissions associated with mail delivery.
Kakao, another major Korean conglomerate, is also pursuing ESG initiatives. One such project, called “Jaegabeochi,” was launched last year.
The program works to open up markets for agricultural, livestock, and fisheries products that would otherwise go to waste due to a lack of demand. To date, the project has purchased 3,500 tons of products and achieved 17 billion won in transactions.
Kakao plans to expand the project’s scope to include other products like flowers and collaborate with offline fair shows to support small and medium-sized businesses.
Additionally, Kakao has launched a new project called the “Saegabeochi” program, which focuses on repurposing discarded items into new products.
As ESG practices continue to gain traction in the business world, public institutions are also lending their support.
On the occasion of the 67th anniversary of the stock market’s opening, the Korea Exchange held an ESG management proclamation ceremony on March 3rd. (Image courtesy of KRX/Yonhap)
The Korea Asset Management Corporation (KAMCO) recently released its “2022 ESG Management Implementation Report,” highlighting its ESG management activities from the previous year.
The report focused on four categories: Environment, Social, Governance, and Business, with a particular emphasis on stakeholder engagement through public-private cooperation.
At the Samsung Electronics shareholders’ meeting, the company plans to highlight its eco-friendly efforts with a special experience space where participants can assemble eco-packages made from upcycled product packaging boxes.
Samsung Electronics is dedicated to pursuing ESG initiatives that benefit both society and the environment.
Kevin Lee (kevinlee@koreabizwire.com)
