Sejong, February 27-The Ministry of Environment (Minister Han Wha-jin) signed a Memorandum of Understanding to support ESG management with Samsung Electronics, LG Electronics, Hyundai Motor Group, Kia Corporation (hereinafter "participating companies"), and the Korea Environmental Industry and Technology Institute on February 20, 2023. The participating companies requested the environment ministry to support SMEs building their ESG capabilities, which are mostly partners of the participating companies. Taking this opportunity, the Ministry of Environment plans to work together with participating companies to support SMEs in ESG management.

Minister of Environment Han Wha-jin and the CEOs of Samsung Electronics, LG Electronics, Hyundai Motor Group, and Kia Corporation attended the MOU signing ceremony. Before signing the MOU, they discussed the current status of ESG and their plan for it. The Ministry plans to support the entire stage of ESG management, from consulting services and budget support to information disclosure, by establishing a win-win cooperation system with exporting companies.

Participating companies will join in the efforts of the Ministry to ensure that their partner companies realize ESG management by providing their own supporting measures and recommending partner companies that need support depending on urgency and willingness. In addition to supporting their partners in their own ways, the participating companies plan to work with the Ministry of Environment for its partners' ESG management by recommending other partners who need support from the Ministry of Environment according to their urgency and willingness.

Minister of Environment Han Wha-jin said, "As global companies require ESG management throughout the entire supply chain, South Korean companies must respond accordingly." She added, "The Ministry of Environment will make efforts to achieve carbon neutrality and green growth by enhancing the competitiveness of SMEs, along with companies that have already entered the overseas market."

Contact: Choi Jin-sung, Deputy Director

Green Industry Innovation Division / +82-(0)44-201-6706

Foreign Media Contact: Chun Minjo(Rachel)

+82-(0)44-201-6055 / rachelmchun@korea.kr