Companies Realize Local Economic and Social Stagnation Leads to Industry-wide Slump
Recognizing that the decline of local communities leads to a broader downturn in the national industry, corporations are actively engaging in social contribution activities. To overcome these crises, companies are establishing sustainable management systems and creating value through customer-oriented and eco-friendly practices, conducting diverse social impact programs tailored to the communities linked to their core businesses.
The "Social Contribution Corporate Awards," hosted by The Korea Economic Daily and sponsored by the Korea Brand Management Association, was established to promote the evolving trends and activities of corporate social responsibility (CSR). By honoring exemplary companies, the awards aim to enhance corporate images and foster a healthy culture of social contribution. In the "2024 Social Contribution Corporate Awards," marking its 21st anniversary, leading Korean companies that practice enterprise-wide social contribution were recognized. Starting in May, the selection committee conducted a comprehensive analysis and evaluation to nominate candidates. Following a rigorous document review by experts from industry and academia, 24 companies and institutions were finalized across six categories: Environment & Disaster Relief, Underprivileged Groups, ESG, Local Community Development, Volunteering, and Vulnerable Group Support.
Among the winners, LG Electronics (12 consecutive years) is leading the way in creating sustainable ecosystems globally under its ESG vision of "Better Life for All." NH Nonghyup Bank (11 consecutive years) carries out diverse activities such as rural volunteering, mentoring classes, and sports talent donations. Kellogg Korea (4 consecutive years) practices warm sharing activities for a "Better Tomorrow" for the underprivileged.
Boram Group (3 consecutive years) prides itself as an "ESG company coexisting with customers," while Seoil University (3 consecutive years) strives to create social value by setting "Local Community-based Coexistence" as a strategic task.
Korean Air, a 7-time winner, has been fostering the "Korean Air Forest" since 2004 in Baganuur, Mongolia, as part of its "Global Planting Project" to combat desertification, while also actively engaging in local community support.
The 2024 awards also welcomed 14 new winners across various sectors. In the ESG category, new winners included Gyeonggi Credit Guarantee Foundation, Luther University, Ansan Environment Foundation ESG Carbon Neutral Education Center, Valeo Pyeonghwa (which pursues the happiness of customers, members, and society), Allergan Aesthetics, an AbbVie Company, and KDN (which is accelerating ESG management with its vision of "Clean Energy, Warm ICT Technology").
In the Local Community Development category, the winners included the National Forestry Cooperative Federation, which promotes the rights of foresters; PLANM, which emphasizes social responsibility and giving back to society; the Korea Communications Agency (KCA), which utilizes its infrastructure to support local communities; the Korea Testing Laboratory (KTL), which strengthens sustainable management through diverse social projects; and the Korea Institute for Advancement of Technology (KIAT), which practices "Creating a Happy World through Warm Technology Sharing." Gyeongbuk Development Corporation and Samjung Pulp (celebrating its 50th anniversary with the slogan "BETTER TOGETHER") received awards in the Underprivileged and Vulnerable Group Support categories, respectively.
The 2024 Social Contribution Corporate Awards ceremony took place on the 14th at Dasan Hall, The Korea Economic Daily, in Junglim-dong, Seoul.
By Reporter Kim Ji-won (jiame@hankyung.com)
Related Press Release Excerpt:
"PLANM, an Eco-friendly Modular Specialist... Returning Profits to Society"
