Forum highlights foreign firms' CSR practices
Foreign investment ombudsman Jeffrey Kim speaks at a forum dealing with the corporate social responsibility programs of foreign companies operating in Korea, on the sidelines of the Foreign Investment Week 2016 at the Grand InterContinental Hotel, southern Seoul, Wednesday. / Courtesy of KOTRA
Good deeds expected to improve public sentiment toward non-Korean companies
By Lee Hyo-sik
More than 17,000 foreign companies operating here have been implementing a range of corporate social responsibility (CSR) programs to support the underprivileged and give back to the local community.
With these social support programs largely remaining under the radar, there is a growing awareness in the foreign business community that non-Korean firms should more actively publicize what they do to improve the neighborhood.
To bring these good deeds to the public eye, the Korea Trade-Investment Promotion Agency (KOTRA) has organized a forum to showcase various CSR activities by foreign businesses, which will likely help improve the public sentiment toward non-Korean companies here.
The agency hopes that this in turn will help create a more foreigner-friendly environment, facilitating the government’s efforts to attract more investment from outside the country.
“We decided to organize the forum to promote foreign firms’ community improvement programs on the sideline of the Foreign Investment Week 2016,” said Jeffrey Kim, a foreign investment ombudsman affiliated with KOTRA, at the Grand InterContinental Hotel in southern Seoul, Wednesday.
“This event will introduce exemplary CSR programs by foreign-invested companies here, which will encourage others to follow suit. We would like the public to know that the majority of non-Korea companies are actively engaged in CSR and are expected to further increase their engagement,” Kim said.
As the forum’s first guest speaker, Prof. Jung Jin-sup of Chungbuk National University outlined the current state of CSR in Korea.
“Koreans need to change their awareness of foreign-invested companies in the country. They are essential part of our society,” Jung said. “Global companies here are making efforts to help Korea’s economic and social development, as well as building sustainable prosperity with the local community. We can expect more from the foreign business community in the future.”
Andre Nothomb, head of government and public affairs at Solvay Asia Pacific, said Solvay Korea is a socially responsible corporate citizen, stressing that the Korean unit of the Belgium-based chemical giant has been implementing numerous volunteer programs to grow together with the community.
“We have been supporting low-income families by devoting not only money, but also time and care,” Nothomb said. “As a chemical company, we have mobilized a great deal of resources to clean the local environment, among others. We operate plants and research facilities across the country. Each implements its own CSR programs to meet diverse demands from local communities.”
Intel Korea managing director Lee Jae-ryung stressed the importance of empowering young people, saying the U.S. chipmaker has introduced educational and other programs to enable university students to pursue their dreams.
GM Korea director Song Myeong-jae said the automaker’s CSR programs have largely been centered on its diverse stakeholders: employees, customers, suppliers, dealers and communities where its plants operate.
“It is necessary for GM and other automakers to fulfill social responsibilities in order to do business,” Song said. “We have been abiding by safety and environment standards to manufacture reliable products for our customers in the least environmentally-harmful way. We will continue to expand our CSR programs by reflecting the opinions of our stakeholders.”