The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    INTERVIEWTati Gabrielle, actress of Korean, African-American descent, feels proud of her heritage

  • 3

    China expresses 'strong dissatisfaction' over US shooting down balloon

  • 5

    Decoding success factors of NewJeans: How is it different?

  • 7

    VIDEOFilipina K-pop idol and K-drama actress react to stereotypes about the Philippines

  • 9

    'Hype Boy' by NewJeans reaches 200 mil. Spotify streams

  • 11

    9 fishermen, including 2 Vietnamese, missing in boat incident

  • 13

    Reclusive fashion icon Martin Margiela makes comeback as artist with eerie wonderland of human bodies

  • 15

    Search under way for 9 missing after fishing boat capsizes

  • 17

    FSC approves security token transactions in Korea

  • 19

    Conflict reignites over relocation of POSCO Holdings to Pohang

  • 2

    2-year work experience prerequisite lifted for foreign shipyard welders

  • 4

    Families of Itaewon victims on collision course with Seoul City

  • 6

    US shoots down suspected Chinese spy balloon with a single missile

  • 8

    President Yoon at odds with politician who helped him win election

  • 10

    Powerful quake rocks Turkey and Syria, kills more than 1,500

  • 12

    LG publishes Korea's first group-level net zero report

  • 14

    More than 2,000 foreign workers to be hired at Korean shipyards this month

  • 16

    VideoHow Koreans' favorite convenience store foods are made in factories

  • 18

    US literary agent reflects on personal journey to discover Korea in new book

  • 20

    BTS fails to win Grammy for 3rd consecutive year

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Tue, February 7, 2023 | 09:56
Companies
'Courage Index' accuses Korea's largest companies of cowardice toward Russia
Posted : 2022-08-25 00:00
Updated : 2022-08-25 09:26
Park Jae-hyuk
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
gettyimagesbank
gettyimagesbank

By Park Jae-hyuk

Samsung, SK, Hyundai Motor and LG have been called out for their failure to denounce Russia's invasion of Ukraine by a London-based corporate watchdog, in analysis released Wednesday.

The Moral Rating Agency (MRA), set up to urge global enterprises to cut their ties with Russia, said that it has measured corporate statements to release its "Courage Index."

It put together a list of 88 companies that have been avoiding denouncing Russia, among the 122 largest companies that were active in trading or investment there at the time of its Feb. 24 invasion of Ukraine.

According to the agency, there were 34 denouncers among the 122 companies, although three of them have continued their operations in Russia. None of the Korean firms were classified as "courageous" denouncers.

"While most of the cowards among Western companies opted for 'mealy-mouthed' statements, East Asian companies ― Chinese, Korean and Japanese ― tended to opt either for silence, making excuses or even 'reverse boycotting,'" the MRA said in a press release.

Samsung and LG Electronics, both of which suspended shipments to Russia, were classified as "mealy-mouthed" corporations.

"Samsung was a case of one step back and one step forward. It made its move after the Ukrainian government called for it to take action," the MRA wrote on its website. "Like Samsung, LG was a mealy-mouther for what it didn't say about the war."

Hyundai Motor, which suspended its manufacturing in Russia, was among the companies that made excuses, citing "supply chain interruptions" as the reason for suspension.

SK Group was criticized for remaining silent about the invasion.

"SK failed to disclose its commercial position on Russia, despite making a financial contribution to help children in Ukraine," the MRA said. "This large importer of crude should make an announcement that clarifies it will cut its importing as well as exports of lubricants that it is engaged in."

The MRA did not talk about POSCO, which was mentioned by the Yale Chief Executive Leadership Institute as the only Korean firm among 242 companies that have continued operations in Russia. The institute said last week that POSCO was operating through a Russian subsidiary, while Samsung, Hyundai Motor, LG Electronics, Korean Air and HMM suspended their businesses there.

Despite growing pressure from international organizations, Korean companies have remained cautious about commenting on Russia's invasion of Ukraine and their business plans there.


Emailpjh@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1[VIDEO] Filipina K-pop idol and K-drama actress react to stereotypes about the Philippines VIDEOFilipina K-pop idol and K-drama actress react to stereotypes about the Philippines
2[Video] How Koreans' favorite convenience store foods are made in factories VideoHow Koreans' favorite convenience store foods are made in factories
3US literary agent reflects on personal journey to discover Korea in new book US literary agent reflects on personal journey to discover Korea in new book
4[INTERVIEW] Saudi Arabia seeks greater cooperation with Korea in NEOM INTERVIEWSaudi Arabia seeks greater cooperation with Korea in NEOM
5Debate heats up over chemical castration of more sex offenders Debate heats up over chemical castration of more sex offenders
6Why Galaxy Book3 draws more attention than S23 smartphones Why Galaxy Book3 draws more attention than S23 smartphones
7[ANALYSIS] New order prevails in global battery industry ANALYSISNew order prevails in global battery industry
8Opposition party's attempt to enact Korean version of IRA triggers concerns Opposition party's attempt to enact Korean version of IRA triggers concerns
9Dongwon aims to to acquire McDonald's Korea Dongwon aims to to acquire McDonald's Korea
10Renowned American economist to discuss China issues at Seoul webinar Renowned American economist to discuss China issues at Seoul webinar
Top 5 Entertainment News
1[INTERVIEW] Tati Gabrielle, actress of Korean, African-American descent, feels proud of her heritage INTERVIEWTati Gabrielle, actress of Korean, African-American descent, feels proud of her heritage
2Decoding success factors of NewJeans: How is it different? Decoding success factors of NewJeans: How is it different?
3Reclusive fashion icon Martin Margiela makes comeback as artist with eerie wonderland of human bodies Reclusive fashion icon Martin Margiela makes comeback as artist with eerie wonderland of human bodies
4The Boyz member Hyunjae apologizes for wearing hat with Rising Sun flag design The Boyz member Hyunjae apologizes for wearing hat with Rising Sun flag design
5SM in internal feud over founder's exit from producing SM in internal feud over founder's exit from producing
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group