In a seminar marking the publication of the Korean version of "ESG Practices in ASEAN & Korea: Pathways Towards Sustainability," in Seoul on Tuesday, Kim Jae-shin, the secretary general of the ASEAN-Korea Centre, emphasized the growing importance of Environmental, Social and Governance (ESG) management in fostering sustainable growth and cooperation between Korea and ASEAN member countries.

"I am very pleased to hold this seminar with the nation's top experts to commemorate the publication of the Korean version of 'ESG Practices in ASEAN & Korea: Pathways Towards Sustainability,'" Kim said.

Cover of ASEAN-Korea Centre's new Korean book "ESG Practices in ASEAN & Korea: Pathways Towards Sustainability" / Courtesy of ASEAN-Korea Centre

The ASEAN-Korea Centre had previously published the English version of the guidebook in 2023. After more than a year of work, the Korean version is now ready to be presented. Kim highlighted the significance of this event.

"I hope today's seminar, which will discuss ASEAN-Korea ESG cooperation based on the contents of the book, will be beneficial to our companies wishing to enter ASEAN and to public, private, and academic stakeholders interested in ESG," he said.

"The UN has been promoting the Sustainable Development Goals (SDGs) since 2016. As a result, sustainable management represented by ESG is becoming increasingly important. It is not just about emphasizing corporate social responsibility; it also serves as a key indicator for investment decisions."

In 2023, the total green investment in Southeast Asia reached $6.3 billion, highlighting the growing importance of ESG in the ASEAN region. Additionally, the ASEAN Secretariat has been announcing the "ASEAN Taxonomy for Sustainable Finance" since 2021 showing the region's interest in institutionalizing and systematizing ESG management."

The newly published guidebook covers the institutionalization status of ESG in Korea and ASEAN member countries and best practices in nine key cooperation areas. Kim praised the collaborative efforts that enhanced the Korean version of the guidebook.

"The Korean version was supplemented with cases from Korea's supply chain and financial markets, with review opinions from SK C&C. We expect it to be a useful guide as the only ESG report covering both Korea and ASEAN, with more enriched content than the English version," he said.

This year marks the 35th anniversary of the establishment of dialogue relations between Korea and ASEAN, and it is also the 15th anniversary of the ASEAN-Korea Centre.