Dunamu holds ESG management committee meeting

The Korea Times

The Korea Times

Finance

Sat, December 9, 2023 | 23:41

Cryptocurrency

Dunamu holds ESG management committee meeting

Posted : 2022-11-22 16:21

Updated : 2022-11-22 17:53

Members of the Dunamu ESG management committee pose at their first meeting held at its headquarters in Seoul, Monday. From left in the front row are Seoul National University Business School professor Roh Sang-kyu, Lee & Ko partner Yoon Jong-soo, Korea Green Foundation executive director Lee Mi-kyung, and Dunamu CEO Lee Sirgoo. Second from left in the back row is Dunamu Chairman Song Chi-hyung with other executives. Courtesy of Dunamu

By Yoon Ja-young

Dunamu, the operator of the country's largest cryptocurrency exchange Upbit, held its first environment, social and corporate governance (ESG) management committee meeting on Monday.

According to the blockchain and fintech company, it held the meeting at its headquarters in southern Seoul, where discussions were made on its current implementation of ESG principles in operation and plans for the future.

It also appointed three outside committee members ― Korea Green Foundation executive director Lee Mi-kyung, Seoul National University Business School professor Roh Sang-kyu, and Yoon Jong-soo, a partner at the law firm Lee & Ko.

The ESG management committee was launched in April, which is the first among digital asset exchanges here. It started as a six-member committee comprised of the CEO and other management officials. But the committee has been expanded to include outside members to better reflect the views of diverse fields such as social and environmental perspectives.

To strengthen the implementation of ESG principles in its management, Dunamu plans to include in its committee experts in fields other than economics and law. Their ideas will be reflected in its decision-making.

Lee is one of the most renowned environmental NGO activists in the country. She has led ESG forums, and has been a private-sector member of the Presidential Carbon Neutrality Commission and the Hydrogen Economy Committee. She is especially known for her expertise in ESG which has emerged as the keyword for corporate management. She has contributed to this latest move by serving as a gateway between the corporate sector and environmental NGOs for better communication. Dunamu announced in a press release that it will accelerate the establishment of environment-friendly management strategies based on Lee's expertise.

Roh is a well-known professor among Seoul National University students for his insight into future businesses. As an economics and finance expert specializing in blockchain and fintech, he is scheduled to actively participate in the ESG management committee for the sustainable operation of Dunamu.

Yoon has been working at TMT (Technology, Media & Telecommunications) Practice Group and IT Practice Group at Lee & Ko. He is known for his legal expertise in IT, media and telecom, intellectual property, internet, private information protection, fintech, blockchain, media content and entertainment.

He recently stressed corporate responsibility and legal regulations and systems at a discussion on cryptocurrency platform businesses' social responsibility and protection of users in the digital era. He is expected to present diverse opinions on compliance management, investor protection and sound governance structure of Dunamu.

Dunamu explained that the completion of its ESG management committee means it will determine the firm's ESG policies that will affect its long-term corporate value from both financial and non-financial perspectives, on top of establishing its future ESG strategies.

"The most important part of ESG management is to find any ESG-related risk and cope with it, as well as seeking sustainable growth mutually with interested parties," said Dunamu founder and Chairman Song Chi-hyung, who also heads the ESG committee.

"Under the keywords of 'tree,' 'youth,' and 'investor protection,' Dunamu will emphasize ESG with its executives and staff and lead the efforts for sustainable management," he added.

yjy@koreatimes.co.kr