Ending poverty, realizing gender inequality, and tackling global warming,
These are some of the challenges Korean companies are taking on, in line with the United Nation's 17 Sustainable Development Goals, or SDGs, for the year 2030.
"Regardless of industry or size, companies can adopt SDG principles across the board, in corporate policies, supply chains, management and even R&D. There are also infinite possibilities for innovation involving new products and services."
KT Corporation is one such example.
The country's communication giant aims to fully align its corporate strategy with the SDGs, through state of the art ICT and ethical business practices.
"Our main areas of focus include health care applications, smart energy, and the environment. We will also enforce ethical governance and supply chain management within our affiliates."
Also, venture companies are coming up with innovative products and services.
Take this company in Southern Seoul.
It makes trendy phone accessories, high quality scarves, clothing,.. and fine leather bags.
"You have cashmere in Mongolia, leather from African countries and wood products in Indonesia. But the problem is that many of the companies in developing countries do not have a business model or channel to sell their goods independently. And that's where we come in."
Discussing SDGs as an essential framework for Korean businesses, experts gathered at a forum held by UN Global Impact Korea.
"Based on the universal values regarding human rights, labor, and the environment,.. the SDGs set a clear, long-term direction - vital for corporate success as well as economic growth. A fraction of conglomerates and mid-sized companies are on the right track. However, many CEOs, especially those of SMEs, lack awareness and focus mainly on short-term profits."
"Experts say the key is thinking longer term. By looking further ahead, business leaders can invest in a sustainable value chain that meets global standards.
relevant government policies should promote and nurture these efforts.
Oh Soo-young, Arirang News." ed: mark