DR & AJU Legislation & Government Relations Consulting Center’s latest issue of its specialized legislative journal, the Policy & Business Report, is now available in digital format.
Businesses must proactively respond to initiatives by the government and the National Assembly to establish ESG standards.
On April 30, 2021, the Legislative Strategy Center (represented by Head of the Center Dong Eon CHA) of DR & AJU LLC (represented by Managing Partner Kyu Chul LEE) released the April 2021 issue of the specialized legislative journal, the Policy & Business (P&B) Report.
Mr. Dong Eon CHA, head of the Legislative Strategy Center, stated, “The Korean government has been reviewing the establishment of a domestic ESG index to reduce the confusion of businesses, while the National Assembly has been processing legislations supplementing the ESG management.” He further mentioned, “Businesses must actively respond to the institutionalization of ESG management.”
The National Pension Service is reported to be fully considering the introduction of measures to regulate investment for businesses that fall short of ESG standards. Approximately a hundred bills have been proposed since the inauguration of the 21st National Assembly.
Mr. Seung Cheol LEE, a Senior Advisor at DR & AJU, stated, “ESG is a new normal for the Korean economy. It is not simply another regulation but a new opportunity for businesses to grow” He further commented, “Corporations must actively recognize the paradigm shift of economic industry and turn it into an opportunity to create businesses.”
As the first-ever Korean law firm to issue specialized legislative journals, DR & AJU LLC has been publishing the monthly Policy & Business Report since August 2019. Based on a comprehensive evaluation of the legislation proposed to the National Assembly Subcommittee, Standing Committee, and Plenary Session from March 15, 2021 to April 14, 2021, the April 2021 issue of the P&B Report selects and analyzes legislation that significantly impacts corporate activities. Especially for major Acts, key quotes from legislators, members of the Standing Committee, and government officials are included.
Mr. Kyu Chul LEE, the Managing Partner of DR & AJU, said, “DR & AJU is the only Korean law firm to participate in the ESG forum of the National Assembly and contribute to the development of ESG-related legislation, systems and policies.” Mr. Lee stressed, “With an already operating ESG Headquarters, DR &AJU is equipped with the capacity to solve problems corporates face including ESG regulations and risk management, the establishment of ESG management strategy, ESG related litigation and conflict solution.”
*Please download the PDF file for further information. (Korean)
