Promotion of Socially Responsible Investment and Corporate Social Responsibility - Foundation Office Korea
Workshop
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On the other hand, self-motivated activities of members are the ones which actually drive the development of the society. Due to such reasons, self-motivated activity is considered as one of the best virtues of society and represents bigger responsibility. However, when discussed regarding SRI and CSR, the term “self-motivated” implies not a “pure voluntary based activity” but a “half-mandated activity”. That is because although companies and investors have a freedom of choice how to manage their businesses, they are also forced by their stakeholders to meet their demands which are very hard for companies to just ignore in order to survive in the market. SRI and CSR sure have become important issues for stakeholders most in recent times. However, self-motivated activities of companies regarding CSR and SRI show clear limitations in Korea. While companies do their best to satisfy social expectations in areas where social attention is high, companies tend to neglect such factors in areas where social attention is relatively low but equally important. Recently, several bills to institutionalize and promote CSR and SRI in Korea through information disclosure have been proposed and discussed in the National Assembly. Lawmakers who proposed CSR and SRI bills will share details and potential effects of their bills.