GS Home Shopping named best KOSDAQ firm in sustainability

GS Home Shopping Senior Vice President Cho Sung-goo, right, poses with Korea Securities Depository CEO Lee Byung-rhae during the award ceremony of the Korea Corporate Governance Service's ESG Evaluation award on Yeouido, Seoul. Courtesy of GS Home Shopping

By Nam Hyun-woo

GS Home Shopping was named as a model company practicing sustainable management by a leading proxy adviser, the GS group unit said Tuesday.

The Korea Corporate Governance Service (KCGS) named GS Home Shopping as the top Kosdaq-listed company at the proxy firm's annual ESG Evaluation award ceremony on Yeouido, Seoul. ESG refers to environmental, social and corporate governance which are the main factors used to determine a company's sustainability.

The KCGS has been naming the best ESG companies every year in order to promote companies that have prudent corporate governance and enhance their corporate social responsibility activities. Since last year, the KCGS has been holding award ceremonies for companies with the best ESG practices.

The evaluation measures are subject to multiple criteria including efforts to protect shareholders' rights and transparency in running their boards.

GS Home Shopping said it has been pursuing sustainability in running the company, and it is delighted to see such efforts were recognized.

“With the importance of transparent corporate shareholding structure ever increasing, GS Home Shopping is honored to win the recognition,” a GS Home Shopping official said. “We will continue to make efforts to prioritize shareholder value and keep our governance structure transparent.”