South Korean company Shinhan Card said on Monday it was ranked as a leader in the domestic financial sector in an Environment, Population and Governance (EPG) management rating that evaluates corporate social responsibility and their responses to the country’s population crisis.
The EPG is a new assessment standard developed by the Korean Peninsula Population Institute for Future (KPPIF), a private think tank specializing in population issues.
This metric replaces the social component of traditional environmental, social and governance (ESG) criteria with indicators that focus on how companies address population issues.
The assessment examined 300 South Korean firms with total assets of over one trillion won (US$751 million) and looked at four key areas: childbirth support and childcare, work-life balance, promoting a childbirth-friendly corporate culture and community contributions.
The assessment included 17 specific indicators.
Shinhan Card achieved an overall score of 80.9 points, the highest among financial companies, and ranked third across industries.
The average score of the 52 financial companies included in the evaluation was 60.2 points, which was significantly exceeded by Shinhan Card.
Company policies, such as reducing working hours for pregnant employees in early and late pregnancy and granting one day of vacation per month regardless of the stage of pregnancy, were highlighted as exemplary and demonstrated the company’s strong commitment to tackling the population crisis.
Write to Mi-Hyun Jo at [email protected]
