• Journal of Korea Port Economic Association
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• v.39 no.4
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• pp.309-324
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• 2023

Recently, not only has ESG (Environment, Society, Governance) been discussed domestically and internationally intensively, both within companies and at the level of national competitiveness, but also ESG management is seen as a concept that practically implements a new value system for sustainable development of our humankind. As the mandatory disclosure of environmental, social and governance (ESG) is scheduled for 2025, it is a reality that companies are experiencing considerable burdens and difficulties. In recent years, among ESG activities, which are non-financial management performance in the shipping and port industries, environmentally friendly activities are acting as an important indicator for shipping companies. In particular, the National Assembly has enacted laws related to air quality, including ports, and the Ministry of Maritime Affairs and Fisheries is making various support measures and plans to create eco-friendly ports. Accordingly, the purpose of this study is to analyze the current status of ESG reports and suggest related problems and improvement plans for ESG activation.

• Proceedings of the Korea Contents Association Conference
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• 2017.05a
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• pp.459-460
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• 2017

The research proposes theoretical recommendations for Smart City that targets elderly citizens. The elderly citizens in question are people currently in their mid-50s to early 60s, in order to adequately employ futuristic technologies into four major sectors: healthcare, post-retirement employment, community-based governance, and environment-friendly infrastructure. The research concludes that the technical application of welfare to the elderlies through constructing a purposeful Smart City is desirable, environmental consideration should come in prior concern as a sustainable foundation.

• Journal of Environmental Science International
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• v.33 no.6
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• pp.345-353
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• 2024

As biodiversity loss has been highlighted as a global risk, biodiversity activities are gaining attention as a part of companies' Environmental, Social, and Governance (ESG) related management. This study evaluates various biodiversity activities of corporations based on domestic and international indicators. We present the role of corporations expressly in afforestation activities and suggest additional information that should be disclosed for the accurate verification of environmental values by third parties. KT&G was selected as the subject of the evaluation. The 4th National Biodiversity Strategy was used as a domestic indicator, and GRI Standard 304 as an international indicator. Companies can play a leading role in planning, implementing, and monitoring afforestation activities and should further disclose the species composition of the forests created and the age of the seedlings to enhance the credibility of the environmental values stated in their sustainability reports.

• Journal of Distribution Science
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• v.16 no.5
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• pp.31-43
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• 2018

Purpose - We examine how a Korean retail firm's social responsibility is related to its financial performances. The traditional view of corporation expects a negative relationship, while the stakeholder theory expects a positive one. Research design, data, and methodology - We adopt the ESG score, published by Korean Corporate Governance Service to measure the level of socially responsible activity for the Korean retail firms. The ordinary least square method is adopted to investigate this relationship. The publicly traded retail firms are examined from 2011 to 2016. Results - We find that the total ESG score is negatively related to ROE but shows no statistically significant relationship with ROA and Tobin's Q value. However, a firm's environmental score is negatively related with both of ROE and ROA. Its social score is no conclusive relationship with the performance measures. The governance score is negatively related to the value of Tobin's Q. Conclusions - This paper generally supports the traditional view of corporate theory, especially in terms of ROE. This evidence is not well aligned with the existing study for Korean corporations generally documenting positive relationships. We find almost no empirical evidence supporting the stakeholder theory of corporation in the Korean retail industry.

• Journal of Distribution Science
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• v.17 no.7
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• pp.55-63
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• 2019

Purpose - This paper examines the value relevance of socially responsible activities in the Korean retail firms. Recent studies predict positive relationships between socially responsible activities and the value of corporation. Research design, data, and methodology - We use the environmental score, social score, governance score and the sum of these three scores to represent a fim's effectiveness of socially responsible activities. These scores are published by the Korean Corporate Governance Service. This paper adopts a share price valuation model to evaluate the effect of socially responsible activities on a firm's share price, which controls for the book value of assets and current earnings. The ordinary least square method is employed to examine the relationship. The sample of Korea retail firms is examined from 2011 to 2016. We also conduct sub-sample analysis based on the categorization of chaebol affiliates and non-chaebol affiliates. Results - The entire sample analysis finds neither negatively nor positively significant relationship between socially responsible activities and the value of a corporation. In contrast, our examinations find a significantly positive valuation effect of social score within non-chaebol retail firms. Conclusions - The results weakly support the positive valuation effect of socially responsible activities. The results are consistent with recent studies that highlight heterogeneous effects of socially responsible activities on corporate policies and valuation.

• Journal of Distribution Science
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• v.17 no.9
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• pp.103-115
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• 2019

Purpose - We attempted to verify the level of ethics of firms achieving sustainable management from the aspect of reliability of accounting information. Specifically, we evaluated the effects of sustainable management on accruals-based earning management (AEM) and real earning management (REM). Research design, data, and methodology - We employed the issuance of sustainability reports in addition to the indices of social responsibility and environmental-management evaluation of the Korea Corporate Governance Service in order to measure sustainability management. AEM was measured using discretionary accruals and calculated using the operant Jones model. Specifically, REM was measured using the methodology suggested by prior studies. The sample of our study consisted of 1,418 years of public listed firms in the Korea Stock Exchange from 2015 to 2017. Results - First, the level of AEM in firms achieving sustainable management was lower than the other. Second, the level of REM in these firms was lower than the other. Nonetheless, another analysis showed that the level of governance control affects the level of earning management and that the levels of AEM and REM were generally lower in firms achieving sustainable management than the others. Conclusions - We expected that firms achieving external ethics tend to have a higher level of internal ethics than others.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.7
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• pp.577-586
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• 2020

The paper seeks to explore the role of green finance in achieving sustainable development goals through the case of China, and address some issues of sustainable finance and environmental, social and governance concerns of green finance by introducing the episodes of green finance in China. This paper aims to provide some viewpoints about the following questions: 1) What are the latest trends in green finance? 2) What are the main challenges to the development of green finance? 3) What are policy recommendations for the development of green finance? 4) What are the roles of both the public and private sectors in promoting green finance? This paper identifies the mainstream to sustainable bonds, diversification of green finance, transition of corporates' business models, transparency and disclosure, and harmonizing taxonomy and measurement of green finance for the emerging trends of green finance. As the results, this paper recommends some policy measures for the private sector such as greening the banking system, greening the bond market, and greening institutional investors. This paper also suggests some policy initiatives for the public sector such as developing policies and capacity, promoting market transparency and governance, and promoting private-public partnership for diversifying resources of green finance.

• The Journal of Economics, Marketing and Management
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• v.10 no.6
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• pp.39-46
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• 2022

Purpose: The purpose of this study is to look at the current status and cases of ESG at home and abroad, and through this, seek ways to activate the ESG strategy of domestic SMEs and suggest a direction. Research design, data and methodology: This study examines the current status of ESG management at home and abroad and examples of companies through related literature on ESG management and performance. Through this, the strategic direction of ESG management of domestic SMEs was presented. Results: Compared to the government and major corporations, SMEs can be said to lack ESG management activities. ESG activities include environmental activities such as carbon neutrality, waste management, eco-friendly supply chain management, establishment of safety and health processes to improve workers' environment, expansion of governance to guarantee autonomy and profitability such as fair trade, protection of social and shareholder rights such as anti-corruption, etc. should be based on Therefore, there are difficulties in ESG activities of SMEs that lack funds and manpower. Conclusions: Compared to the government and major corporations, SMEs can be said to lack ESG management activities However, it will be possible to establish and implement ESG management strategies based on the strengths of SMEs and the characteristics of each company.

• Journal of Environmental Science International
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• v.17 no.5
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• pp.525-535
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• 2008

5 public complaint areas against odor in Changwon Industrial Complex were selected and investigated to clear up the cause of the complaint. 16 companies operated in public complaint areas were visited and had a grip of their situation about odor generation and treatment. Two samples at it's site boundary of each company were taken to measure complex odor unit. Complex odor unit at the site boundary of investigated companies in the public complaint areas, for the most part, exceeded standard(odor unit 20) in industrial area. It was due to that this area was not designated as odor control region and that there are also many problems in current laws of Odor Protection Act, Air Quality Act and regional legislation. Accordingly, It will be necessary to revise the related legislation, to organize governance, to financially support the improvement of environmental facilities and to enforce guidance and the regulation rigidly for the odor emission reduction in Changwon Industrial Complex.

• Journal of The Korea Institute of Healthcare Architecture
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• v.25 no.4
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• pp.37-45
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• 2019

Purpose: At the time of consensus on the necessity of appropriate guidelines for health care facilities suitable for Korea, the paper aimed to analyze the characteristics in the aspect of the system of the US Health Care Facility Guidelines(FGI Guidelines) and to suggest implications. Since the system is significant for the guidelines to be socially accepted and operated, this study focuses on the system. Methods: Literature studies focusing on the analysis of prior studies and the 2018 edition of the FGI Guidelines were conducted. Results: As a result of reviewing the history and outline of the FGI Guidelines, the derived characteristics of the system were governance, procedure, and composition. First, it had multi-layered organization and multidisciplinary members. Secondly, the focus is on the procedure of gathering opinions from industry and the public. Third, the Guidelines have been continuously evolving to reflect the needs of the times and changes in the medical environment, and the content framework and method of writing are user-friendly in order to prevent confusion caused by vast contents. Implications: First, we need to consider the composition of a private organization to prepare Korean health care facility guidelines. Second, it needs a system that can induce the participation of multidisciplinary experts. Third, a comprehensive and user friendly guideline needs to be constructed.