By Kim Sue-young
Staff Reporter
Nam Seung-woo, 57, is arguably one of the busiest businessmen here since he holds five posts as well as working as CEO of Pulmuone Holdings, a leading provider of healthful food products.
His latest role is as the representative of the U.N. Global Compact (UNGC) Korea Network, aimed at implementing principles regarding human rights, labor, the environment and anti-corruption. He assumed the post in September 2007.
Nam, however, humbly said that he was just a ``substitute'' for the chief post.
``Actually, Moon Kook-hyun, former lawmaker of the Renewal of Korea Party, was supposed to lead the network, but he entered politics. So, I was a fill-in,'' he said in a recent interview with The Korea Times.
He was the perfect one to fill in for Moon, former CEO of staple product maker Yuhan-Kimberly, because he has been working for several organizations keeping similar spirits of the UNGC.
``I just happened to be recommended by a board of directors because I was doing similar things.''
Since 2005, he has been serving as co-chairman of the Peter F. Drucker Society of Korea and as chairman of Meerae Forum discussing social issues.
In addition, he is an executive officer for the Korean Green Foundation and is seeking to resolve environment-related issues such as climate change and green growth with other civic groups, private firms and government offices.
The UNGC, launched in July 2000, is a policy platform and at the same time a practical framework for companies that are committed to sustainability and responsible business practices.
Nam, who is trying to spread its spirit, stresses that local companies can broaden their scope by joining.
``It's the first U.N.-hosted gathering for companies around the world,'' he said. ``It is, in my judgment, the only way for companies to work under the umbrella of the U.N.''
It would be very meaningful to join, no matter what goals each firm seeks, he added.
Participants in the initiatives can enjoy a wide array of benefits such as having the chance to share best and emerging practices to advance practical solutions and strategies to common challenges.
Besides, they are allowed to access the U.N.'s extensive knowledge of and experience with sustainability and development issues.
Currently, about 160 local companies are taking part but Nam encourages more organizations, especially conglomerates such as Samsung and LG, to join the campaign.
``More than half of 500 foreign companies listed in Fortune magazine have already joined the global compact,'' he said. ``But here, only Hyundai Motor Group and SK Group among the giant companies took part in the initiative.''
He added that some conglomerates still hesitate to join since the UNGC brings up issues, including anti-corruption, human rights, labor and environment, which companies want to avoid.
``Corruption, human rights and labor are something companies want to shun,'' he said. ``Firms are quite active about environment-related issues because they view them as a new business opportunity but they haven't directly faced the other areas.''
Citing controversy regarding Nike's purchase of products made by children in a Third World country, Nam said that organizations and companies are hesitant about the global compact due to psychological burdens.
``For example, I buy products from some manufacturers and they turned out to be products of child labor later. I would be censured,'' he said. ``My understanding is that companies hesitate over this kind of pressure that they can face after joining the global compact.''
Nam, however, expressed hope for more participation, saying local corporations are believed to be getting rid of possibly controversial areas prior to actual participation in the global compact.
The UNGC is not a regulatory instrument, but rather a voluntary initiative that relies on public accountability, transparency and disclosure to complement regulation and to provide a space for innovation.
This can be the strongest feature of the campaign but also the weakest point.
Thus, UNGC's Korea office is trying to create opportunities for companies to come together as often as possible.
``U.N. Secretary-General Ban Ki-moon is the head of the UNGC. He hosted seminars for UNGC participants whenever he visited Korea,'' Nam said.
Ban has vigorously backed the global compact and its 10 principles, saying, ``We need business to give practical meaning and reach to the values and principles that connect cultures and people everywhere.''
The Korea office will also co-host a forum in Seoul from Dec. 12 to 13 involving China and Japan to discuss the role and implementation of the global compact principles in Northeast Asia.
Next May will see the celebration of the 10th anniversary of the creation of the UNGC in New York and participants across the world are expected to get together, he added.
Every three years, the United Nations offers all global compact participants a chance to meet each other in a bid to help share information and experiences.
Meanwhile, the Korea network holds policy seminars on labor and corruption issues as well for local companies.
``I think it is important to inform companies of knowledge related to the principles but not to put pressure on them,'' Nam said.
Nam stressed that Korea is showing a rapid increase in UNGC participation and vigorous activities practicing the principles.
``Compared to Japan and China, we are witnessing faster growth here,'' he said. ``My understanding is that local companies find it necessary to join the initiative in order to step up as a global organization.''
Besides, existing participants in the global compact are abiding by the UNGC principles by and large.
``It seems many local companies are implementing most of the 10 principles. They have, of course, some issues but I think it is a problem not only for Korea but also other countries,'' said the regional chief.
The UNGC Korea Network is also making more efforts to tout local firms and opened a research institute recently.
``Asia has a different set of values and attitude from Europe. So, the institute studies how companies in Asia can carry out the UNGC spirit in the region,'' Nam said.
The institute here is the second of its kind following the one in Barcelona, Spain, he added.
Nam has stressed the importance of social responsibility while managing Pulmuone, which also meets the spirit of the global compact.
``There is a concept of the triple bottom line which captures an expended spectrum of values for measuring success,'' he said. ``In addition to profits, there is ecological and social performance.''
Considering this, he said, the idea shows what firms should pursue.
``Companies should review whether they are offering products and services to customers in a reasonable and correct way,'' Nam said. ``It is a kind of self-screening.''
The six-post holder is nearly 60 but he is never afraid of facing new challenges.
He undertook his first marathon five years ago and has taken part in an amateur race every year since.
Asked what superpower he wants, he first picked the physical strengthen to shorten his marathon records.
``I tried hard to set a new record of my own but it is difficult. I wish I had run at a speed of 12 kilometers an hour,'' he said with a big smile.