A customer purchases products at the Gwangju store of Daruda Gimbap, a participant in Shinsegae Department Store's ESG support program. [Photo=Shinsegae Department Store]
Shinsegae Department Store announced it will double its support for small partner companies' environmental, social, and governance (ESG) management capabilities this year, expanding the number of supported companies from 10 to 20. The initiative aims to assist partners with practical growth through education, on-site consulting, evaluation, certification, as well as financial support and product development.
On June 23, Shinsegae Department Store revealed its plans to increase participation in the 'Partner Company ESG Support Program,' which is operated in collaboration with the Shared Growth Committee.
This program provides comprehensive support for small partner companies lacking specialized personnel and systems, covering everything from ESG education to on-site consulting, evaluation, and certification for outstanding companies. Support will continue until the end of the year.
Shinsegae explained that as ESG management becomes a key criterion for assessing corporate competitiveness and transaction stability, the demand for participation from partner companies has also risen.
Partner companies selected as outstanding through evaluation will receive an 'ESG Excellent Small Business Certificate' issued by the Shared Growth Committee. Companies that obtain this certificate will be eligible for incentives such as preferential interest rates from commercial banks, support for overseas expansion, and research and development assistance.
Outstanding partner companies that are part of the department store will also receive additional growth programs. These include online and offline promotional events, product development consulting, and sharing of store operation know-how to enhance brand competitiveness and increase sales.
For instance, last year, the Gwangju and Jeonnam region food and beverage brand 'Barie' was recognized as an ESG Excellent Company. After participating in the program, its ESG management diagnostic indicators improved by more than double. With Shinsegae's support, the company collaborated with local influencers and conducted social media promotions, resulting in a sales increase of approximately 27% compared to the same period last year over two months.
This year's participating companies include the Gwangju and Jeonnam region retailer 'Daruda Gimbap,' the environmental consulting firm 'Green Wave,' and the interior design company 'Yes Design.'
Shinsegae Department Store plans to operate the ESG support program not just as a means of evaluation and certification, but as a growth program for partner companies that connects to enhancing product competitiveness, increasing brand awareness, and expanding sales channels.
A Shinsegae official stated, "Partner companies are key partners in creating sustainable growth together. We will continue to support the competitiveness of our partners through the ESG support program and aim to expand the number of supported companies to over 30, enabling more partners to establish a foundation for sustainable growth."
Additionally, Shinsegae Department Store received the 'Special Award for Carbon Management' from the Carbon Disclosure Project (CDP), a global environmental management certification organization, in March.
CDP, established in the UK in 2000, is a leading global non-profit organization that requests and evaluates environmental information disclosures related to climate change, water resources, and plastics from major cities and publicly traded companies worldwide.
Shinsegae is making technical investments for substantial carbon reduction at its business sites and expanding carbon-neutral infrastructure across all its stores.
* This article has been translated by AI.
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