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Evening ESG news and briefings to wrap up your day.
What drove the KOSPI index to its all-time highs were large-cap stocks such as semiconductors and secondary batteries. While the KOSPI index makes headlines day after day and we discuss the business environments and performance of large-cap stocks like those in the semiconductor industry, there is something that goes unmentioned, as if it did not exist: the ecosystem usage of electricity, water, land, minerals, and other resources that forms the very foundation of that performance. Natural Capital as the Real Foundation of Financial CapitalThe semiconductor and battery industries that have driven the recent stock surge consume enormous amounts of energy and minerals. The International Energy Agency (IEA) projected in its 2020 Net Zero Emissions scenario that, with the expansion of electric vehicles, lithium demand could increase by up to 40 times or more by 2040. While the expansion of EVs is a core strategy of the climate transition, it simultaneously accompanies the ecological burden of expanded mineral extraction and water resource use. Lithium-ion batteries — secondary batteries — the key component of electric vehicles, are connected to lithium salt flats in Chile, nickel mines in Indonesia, and cobalt mining in the Congo. At the salt flats, thousands of tons of brine evaporate daily for lithium extraction, and at the nickel mines, expanded mining is increasingly linked to tropical forest degradation and ecosystem fragmentation, heavy metal contamination, and child labor issues.[Chile’s Lithium Salt Flats © THE NET-ZERO CIRCLE]The semiconductor industry is no exception. Large-scale semiconductor complexes are known to use over 100,000 tons of industrial water per day. Industrial expansion leads to surging energy demand. The problem is that these costs are not sufficiently reflected in corporate valuations. As a result, the long-term cost burdens of labor ethics issues and ecosystem degradation become the responsibility of future society, while the immediate profits are recorded as corporate performance.In particular, the Korean stock market has a high dependence on nature given that the top market-capitalization stocks are concentrated in resource-intensive industries such as semiconductors, secondary batteries, oil refining, and chemicals. These industries create high added value while simultaneously premised on the consumption of enormous amounts of electricity, raw materials, and water resources. A rise in the KOSPI index signifies an expansion of the structure of natural resource use, making financial performance and the consumption of ecological resources an inseparable relationship.An Era Where Natural Capital Becomes a Financial VariableIn this way, the destruction of nature is moving beyond ethical debate into the realm of financial risk. According to the 2023 report ‘Nature-related Financial Risks: a Conceptual Framework to Guide Action by Central Banks and Supervisors’ issued by the Network for Greening the Financial System (NGFS), analysis and policy directions reveal that nature-related risks such as rising costs and supply chain disruptions can affect financial stability. In its ‘Global Risks Report’ published in 2023, the World Economic Forum (WEF) identified biodiversity loss and ecosystem collapse as among the most severe global risks within the next ten years. Furthermore, its 2020 report ‘Nature Risk Rising’ analyzed that 55% of global GDP, an economy of approximately USD 44 trillion, is moderately or highly dependent on nature and ecosystem services.[‘Project Natick,’ Microsoft’s eco-friendly data center development research experiment building an underwater data center. Container-type data centers were installed on the seabed to reduce cooling costs and energy use. © Microsoft]In Europe and the United States, the Taskforce on Nature-related Financial Disclosures (TNFD) is spreading. Since the final recommendations were announced in 2023, more than 300 global companies and financial institutions have endorsed or adopted them. They have begun to analyze how dependent companies are on nature and how nature degradation can lead to financial risks. This trend is also connected to the International Sustainability Standards Board (ISSB) system, which creates international disclosure standards. In 2023, the ISSB incorporated ESG disclosure into the financial reporting framework with the issuance of the climate disclosure standard (IFRS S2). The European Union is institutionalizing corporate responsibility for human rights and environmental risks through the Corporate Sustainability Due Diligence Directive (CSDDD, an EU law mandating companies to directly identify, prevent, and mitigate the adverse human rights and environmental impacts of their own operations, subsidiaries, and supply chain partners, and to disclose them transparently). South Korea likewise plans to pursue mandatory ESG disclosure from 2028.A rise in the KOSPI can clearly be a signal of economic growth. But if it is an outcome obtained at the cost of environmental degradation, it is no different from consuming future assets ahead of time. Only when the costs of resource use and sustainability are reflected in business budgets and ecosystem risks are incorporated into corporate decision-making processes can stable growth be discussed. This is why, even as we celebrate the KOSPI record, we should also ask what process produced those numbers. by Editor N
Just a few years ago, gatherings formed naturally without any special occasion. Simply because they lived in the same neighborhood, children gathered in alleyways to play, and even children a bit lacking in skills joined in under the name ‘kkakdugi’ (an informal term for a substitute player). But gatherings in this era have a different character. They must be sought intentionally, their purpose is clear, and the longevity of the relationships has shortened. Compared to the past, when gatherings took place within the fairly sturdy frameworks of blood ties, regional ties, and school ties, today’s gatherings are exceedingly loose. Even among people who do not know each other, gatherings are easily formed through the medium of trivial tastes such as ‘French fries’ or ‘running.’We Share Only the Moment, Not RelationshipsRecently, unique gatherings have been recruiting members, centered on online communities and secondhand trading apps. One such example is the so-called ‘French Fry Meetup,’ where people who have never met before voluntarily gather at a fast-food restaurant and pile up French fries like a mountain to eat together. They meet up, share French fries, and once the meal is over, they disperse without much lingering sentiment. One-off gatherings began to gain real momentum late last year when the ‘Cops and Robbers’ game became a trend. Beyond the realm of ordinary people’s tastes, even celebrities such as singer Lee Young-ji personally participated in ‘Cops and Robbers Meetups,’ and producer Na Young-seok turned it into YouTube content. In the process, when the sign-up form for recruiting participants was made public, some 70,000 people applied in less than a day. The popularity of Cops and Robbers demonstrates the public’s high demand for light encounters and fun. In fact, one-off gatherings are not a passing trend limited to South Korea but a global phenomenon. Overseas, a trend has taken hold under the name ‘light communities,’ in which impromptu, game-like gatherings are created through social media. People meet up once to run, or to have dinner together, consuming the experience of the moment together while shedding the burden of relationships.[Lee Young-ji’s Cops and Robbers © Channel Fullmoon YouTube Channel]How did one-off gatherings become a global trend? Experts point to changes in communication methods as the cause. People are increasingly trying to minimize the emotional costs involved in the process of figuring others out and building long-term trust. Rather than fitting the individual to the group, they choose a fluid approach of temporarily binding together for a specific purpose and then dispersing once the purpose is achieved. The density of relationships has decreased, but the individual’s sense of self and values have become much clearer. The long-lasting pandemic also accelerated this trend. For a generation accustomed to contactless culture, ‘on-off’ relationships that connect only when needed feel more efficient and safer. This is why the tendency to prefer one-off encounters that reduce the temporal and emotional fatigue consumed within interpersonal relationships and extract only temporary enjoyment and fresh stimulation has grown stronger.Why We Are Still Lonely Even as Encounters IncreaseSuch encounters have positive effects. Gatherings based on clear common denominators, such as ‘French Fry Meetups’ or ‘running,’ are a way of efficiently forming relationships in a society of fragmented tastes, and can also serve as a channel for sharing lifestyles.[‘Official French Fry Meetup’ Poster © Danggeun Instagram]However, looking at the other side of the trend, loneliness lies at its base. According to an online survey of 1,000 adult men and women aged 19–59 conducted last April by market research firm Macromill Embrain, 59.2% of those in their 20s and 52.8% of those in their 30s reported feeling loneliness in their daily lives. Professor Koo Jeong-woo of Sungkyunkwan University’s Department of Sociology stated, “The desire to connect with others is the same now as it was in the past,” adding that “that yearning is erupting in forms that pursue ‘loose solidarity,’ such as Cops and Robbers games, French fry meetups, and solo-drinking bars.” In an environment where forming deep interpersonal relationships is difficult, modern people may be compensating for the deficiency through brief, light encounters under the pretext of French fries. While the convenience and efficiency of encounters can be gained through one-off gatherings, the density of relationships inevitably decreases.The ‘Taken-for-Granted Neighbor’ We Have LostA year or two ago, the ‘kkakdugi play culture’ was widely discussed on social media. The reason the ‘kkakdugi culture’ — a playful way of including in our group those who were a little different from us and faced barriers to fitting in — was discussed at length is perhaps because the harmless connectedness of that era, when people related to and embraced others unconditionally, is absent from our lives today. We expected that the advancement of technology would connect us more tightly, but those connections did not necessarily lead to deeper relationships. On the contrary, the more people we meet, the more we may end up lingering in shallower relationships. The current phenomenon of being able to easily meet someone by searching for ‘gatherings’ on an app is, paradoxically, also evidence that society’s self-sustaining communities have collapsed.One-off gatherings may soothe the loneliness of modern people for a moment, but they cannot fill the emptiness that follows a brief encounter. What we truly wanted may not have been the act of sharing French fries itself, but the existence of the ‘taken-for-granted neighbor’ whom we could run into at any time on the street corner. What is it that fast, light connections have failed to fill, and how can we recover it? by Editor N
In Gyeonggi Province, approximately 13% of areas are agricultural and fishing villages where city gas supply is difficult. Since 2015, Gyeonggi Province has been creating energy self-sufficient villages by supporting solar power generation facilities centered on such energy-underprivileged regions. Previously called ‘Gyeonggi RE100 Villages’ or ‘Apartment RE100 Pilot Projects,’ these initiatives were consolidated in 2023 into ‘Gyeonggi RE100 Income Villages.’ Recruitment has begun for the ‘Gyeonggi RE100 Sunshine Income Villages’ (hereinafter RE100 Income Villages) — projects that draw resident participation, return income, and contribute to regional circulation. So what exactly is an RE100 Income Village?Sunshine as Income, Income as Carbon NeutralityRE100 Income Villages are resident-participatory renewable energy projects that install solar power facilities in villages or apartment complexes and return the generation revenue to residents in the form of sunshine income dividends, village fund accumulation, and electricity bill savings. Eligible recipients include areas without city gas supply, energy-vulnerable villages, and apartment complexes. For the village type, 70% of installation costs are subsidized (provincial funds 30%, municipal funds 40%), and for the apartment type, 60% of rooftop solar installation costs are subsidized (provincial and municipal funds 30% each). [Gyeonggi RE100 Income Village © My Gyeonggi]From 2023, Gyeonggi Province expanded the initiative into the ‘Energy Opportunity Income Village Creation Project,’ subsidizing the installation costs of village communal solar power plants and providing monthly income to residents from the proceeds of solar electricity sales. The structure involves Gyeonggi residents, villages, and public facilities participating together to produce renewable energy, returning it as income, and then linking that income back to the renewable energy demand of companies. Under the name ‘Gyeonggi RE100,’ the province has connected villages and industry to regional carbon neutrality. As a result, approximately 1.7 GW of additional solar power facilities were expanded from 2022 to 2025 — a meaningful change for Gyeonggi Province, where renewable energy production had been difficult due to challenges in securing suitable sites. Ten Years of ‘RE100 Income Village’ Results — What Is the Goal for 2030?Over the past ten years, a total of 473 RE100 villages have been created across Gyeonggi Province. The Machimi Village in Pocheon is cited as a representative success story: in 2024, 33 households invested KRW 5.5 million each to achieve approximately KRW 40 million in generation revenue, and from 2025 onward, they receive an average monthly sunshine income dividend of KRW 200,000. The Eungol Village in Icheon also produced concrete results last year, distributing sunshine income of KRW 2.2 million per person annually. The apartment complexes in Suwon and Pyeongtaek that installed 120 kW of rooftop solar as a pilot project last year are also projected to achieve annual savings of KRW 30 million in communal electricity costs. [Gyeonggi RE100 Income Village Project Announcement © Gyeonggi Environment and Energy Promotion Agency]This year, Gyeonggi Province is investing KRW 12.8 billion in provincial funds to support 200 villages, pursuing the long-term goal of creating a total of 2,000 income villages by 2030. By activating a ‘one-stop support system’ through the Gyeonggi Environment and Energy Promotion Agency, the province plans to provide close support for administrative procedures such as permits and shorten the timeline to project implementation. If income villages spread, we can expect a virtuous energy cycle in which the welfare of energy-vulnerable areas improves and the renewable energy transition advances simultaneously. Villages and apartment complexes wishing to participate in the RE100 Income Village creation project may submit project proposals and supporting documents through their respective cities and counties to the Gyeonggi Environment and Energy Promotion Agency by March 20 (see contact information below). RE100 Income Villages make a significant contribution to the practice of energy welfare, including reducing individual household electricity bills, creating village welfare funds, and generating opportunity income. A village where sunshine becomes income is not as far away as one might think.☞ Gyeonggi Environment and Energy Promotion Agency — Gyeonggi RE100 Income Villages: Application Information Page☏ Project Inquiries — Village Type: 031-985-0834 / Apartment Type: 031-985-0519 by Editor N
On February 25, 2026, the KOSPI broke through the 6,000 mark for the first time in history. Opening at 6,022.70, up 53.06 points (0.89%) from the previous trading day, the market capitalization also surpassed KRW 5,000 trillion for the first time on this day, as the KOSPI wrote a new chapter in Korean stock market history. In effect, 1,000 points had been added in just one month since settling above the 5,000 mark based on the closing price on January 27. The KOSPI Party Driven by Semiconductors: ESG Stocks Not InvitedThe growth engine that drove the KOSPI past the 6,000 mark for the first time was unmistakable. The share prices of Samsung Electronics and SK Hynix surged by 66.81% and 54.38% respectively this year alone, pushing up the index. This was the combined result of the explosive demand for High Bandwidth Memory (HBM) driven by the expansion of AI infrastructure and rising memory prices. In contrast, stocks in sectors classified as ESG investment leaders — new and renewable energy, carbon reduction materials, eco-friendly chemicals — largely missed out on this upward trend. Excluding Samsung Electronics and SK Hynix, the KOSPI that actual investors feel is estimated to be around the 3,900–4,000 level. This is why ‘semiconductor FOMO (fear of missing out)’ is spreading behind the glamour of the index.[KOSPI 6,000 breakthrough celebration © Korea Exchange (KRX)]At this very moment, the global financial market and industrial ecosystem can be seen as a structure led by the semiconductor and AI value chain, with defense, shipbuilding, and finance backing it up. While ESG-related stocks are lagging in short-term momentum, once ‘Korean-style transition finance,’ which supports the low-carbon transition of high-carbon, high-emission industries such as steel, chemicals, and cement, is introduced, the ESG response capabilities of these industries will immediately become a criterion for investment screening. Another Task Companies Face on the Day the KOSPI Celebration Rang OutThat said, February 25 was not a day without meaning for the ESG sector. On the very day the KOSPI celebration rang out, a quiet but meaningful announcement was also made. The Financial Services Commission (FSC) unveiled a roadmap to mandate ESG (Environmental, Social, Governance) disclosure for large listed companies starting in 2028. The FSC held the ‘Fourth Productive Finance Grand Transformation Conference’ at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. At the conference, FSC Chairman Lee Eok-won declared, “ESG is now a core task of productive finance,” and unveiled a draft roadmap for phased mandatory ESG disclosure starting from 2028 (FY 2027) for KOSPI-listed companies with consolidated total assets of KRW 30 trillion or more. The disclosure standards were prepared based on International Sustainability Standards Board (ISSB) standards, and Scope 3 disclosure — requiring the disclosure of greenhouse gas emissions occurring in supply chains and the like — will have its application deferred for three years to ease the burden on companies. [Fourth Productive Finance Grand Transformation Conference © Erounnet]The scale of climate finance (raising funds and providing financial services to respond to climate change) was also dramatically expanded from the previous plan (KRW 420 trillion for 2024–2030) to a total of KRW 790 trillion for 2026–2035, in line with the upward adjustment of the Nationally Determined Contribution (NDC). This is a measure to support the 2035 NDC target confirmed by the government last year of a 53–61% reduction compared to 2018. Given that a global investor network has officially expressed support for the amendment to the Capital Markets Act mandating sustainability disclosure, this is also expected to be a variable in the inflow of foreign capital.The moment a company’s carbon emissions and climate risk response levels are disclosed in numerical form through disclosure is the moment investors can finally begin to compare and evaluate. The surging KOSPI has already surpassed 6,300. Whether ESG-related stocks, which appear marginalized for now, will become a variable in the next growth cycle will be decided at the point when mandatory ESG disclosure truly becomes the language of the market. by Editor N
On February 8, the star of the 60th Super Bowl Halftime Show held at Levi’s Stadium in the United States was pop star Bad Bunny. Nearing the end of his performance, he called out the names of Latin American countries one by one and then threw a football bearing the phrase ‘Together, We are America!’ toward the stands. Amid the growing spread of anti-immigrant deportation protests in the United States, Bad Bunny had already revealed a negative stance toward the immigrant crackdown policies. The message Bad Bunny delivered at a halftime show watched by over 100 million people invited controversy before it invited respect. This is an unfamiliar sight for America, a country that has long held up individual diversity in culture, religion, and the like as its national identity. Whereabouts does American pluralism stand right now?The Super Bowl Halftime Show Split into Two StagesAmerican Latin pop star Bad Bunny was born and raised in Puerto Rico (an island northeast of the United States, a Spanish colony until the Spanish-American War). Recently, blackouts have been continuously occurring in Puerto Rico, but the United States has been ignoring the issue without making efforts to maintain the deteriorating power grid. Bad Bunny expressed his criticism of the U.S. government and the people’s desire to find a ray of hope through his performance. He performed most of his songs in Spanish, and near the end of his performance, the message ‘The only thing more powerful than hate is love’ appeared on the electronic display. It was also a message directed at the U.S. government’s policies seeking to exclude immigrants. Regarding Bad Bunny’s performance, U.S. President Trump denounced it as “one of the worst performances in Super Bowl Halftime Show history.” After posting such criticism, around midnight, President Trump posted on social media a composite map image in which the North American continent — including Canada, the Danish territory of Greenland, and Venezuela — was covered with the Stars and Stripes. It was a gesture that seemed to counter Bad Bunny’s position hoping for respect for immigrants.The conservative-leaning organization Turning Point USA, at the same time as the Super Bowl Halftime Show, separately hosted an ‘All-American Halftime Show’ on their YouTube channel, featuring singer Kid Rock, known as a Trump supporter. Some conservative viewers watched this show instead of the official halftime show. [Bad Bunny performing at the Super Bowl © gettyimages/Esquire Korea]Differing Stances on Immigrant Crackdown PoliciesHow did the Super Bowl Halftime Show, which has brought joy to the American people, become a venue for vilification of one another? Bad Bunny’s performance was not smooth sailing from the start. Even when Bad Bunny was confirmed as the invited artist for the halftime show, President Trump publicly expressed displeasure, calling it preposterous. At the Grammy Awards, Bad Bunny shouted “ICE OUT” during his Album of the Year acceptance speech — a comment squarely aimed at the Trump administration’s immigrant crackdown policies.Not all artists share Bad Bunny’s stance on U.S. immigration policy. Last January, rapper Nicki Minaj, a Trinidad and Tobago-born immigrant who came to the U.S. at age five, appeared at the launch event for the Trump Account (a policy through which the government creates tax-free investment accounts for newborns born in the U.S. and supports them with an initial seed fund of USD 1,000), stating she was the President’s number one fan. Trump responded by calling Nicki Minaj “the greatest and most successful female rapper in history.” An interesting fact is that Nicki Minaj was someone who had criticized the government’s immigration enforcement policies in 2018 during Trump’s first term. While she had opposed immigration policies seven years ago, she now stands in support. This is a point that reveals the complex layers of the stances and debates surrounding U.S. immigration policy. [Nicki Minaj and President Donald Trump © AP/Yonhap News]Has American Pluralism Expanded or Fractured?Bad Bunny’s Super Bowl Halftime Show was watched by approximately 124.9 million people — the fourth-highest figure in history. A performance in which most songs were delivered solely in Spanish became one of the most-watched stages in history. Yet at the same time as the official Super Bowl Halftime Show was underway, another Super Bowl halftime performance rejecting this show was unfolding on YouTube. Immediately after the official Super Bowl Halftime Show, President Trump expressed his displeasure by posting an image of territorial expansion. Such scenes feel somewhat removed from the image of an America where diversity is respected. American pluralism is now undergoing expansion and fracturing simultaneously.This phenomenon, in which sporting events have become a battleground for social messages, concisely shows what question American society now faces: whether the value of diversity is expanding toward a broader society, or whether it is becoming another name for division. America is still searching for an answer to that question. by Editor N
The 2026 Milano Cortina Winter Olympics are in full swing. A standout feature of this competition, in which 71 members of the Korean national team are competing across 12 disciplines, is the surge in snow sports. Kim Sang-kyum won the silver medal in the men’s parallel giant slalom in snowboarding on his fourth consecutive Olympic attempt, becoming the first medalist for Korea at these Games and the winner of Korea’s 400th medal in Olympic history. Following that, Yoo Seung-eun captured the bronze medal in women’s snowboard big air, achieving the first multi-medal performance in a single Winter Olympics for Korean ski and snowboard events in the 66 years since Korea’s first participation. In the women’s snowboard halfpipe final, Choi Ga-on won the gold medal, delivering the news of the first gold medal for the Korean delegation at these Winter Olympics, while short track men’s national team member Lim Jong-eon captured the bronze medal in the 1,000m short track final, securing the fourth medal for the Korean delegation. [Winter Sports Ⓟ gettyimages]The stage on which the Korean athletes are racing toward medals did not overlook ESG. The 2026 Milano Cortina Winter Olympics is the first Winter Olympics to comprehensively apply the International Olympic Committee (IOC)’s ‘Olympic Agenda 2020+5.’ The 2020+5 Agenda is a set of priority tasks designated by the IOC in 2021, containing 15 recommendations including digitalization, embracing esports, strengthening the rights and responsibilities of athletes, and promoting clean sport. Additionally, under the sustainability strategy called Now26, the IOC organized what the Olympics will pursue for sustainability into what to protect now, what to renew, what to include, what to move, and what to empower.An Olympics That Does Not Build Disposable VenuesThe most striking feature of this Winter Olympics is the eco-friendly approach epitomized by the ‘Olympics that does not build.’ At the 2026 Milano Cortina Winter Olympics, 85% of venues used existing facilities — the highest building reuse rate in Winter Olympic history. The Stelvio slope in Bormio, Italy, the Antholz biathlon venue, and the Cortina alpine ski slopes were all existing landmarks already situated at host sites. Also notable is the circular economy strategy put into action by repurchasing some 20,000 pieces of equipment used at the 2024 Paris Summer Olympics. Power used during the games is supplied from 100% certified renewable energy. Emergency generators and snow groomers are operated on biofuel, and a low-carbon transport plan is in operation to reduce automobile use by 20% compared to the 2006 Torino Winter Olympics.The newly constructed Milano Porta Romana Olympic Village also embodies eco-friendly design. The Olympic Village was built to meet zero-energy building standards. A post-Olympics plan has also been established: after the Games conclude, the Village buildings will be converted into student dormitories and affordable housing, becoming a hub for Milan’s urban regeneration. The Cortina Village was built with reusable modular units to be dismantled and recycled after the Games. Given the characteristics of a Winter Olympics held in mountainous regions, where concerns over damage to the natural environment were unavoidable, the host sites minimized new construction by maximizing the use of existing hotels as athlete accommodations.Not only the Olympic venues but also the symbols of the Olympics — the medals and torch — are special. The medals for this Games were cast from recycled metals using renewable energy. The torch, which would otherwise be disposable, uses 100% recycled bio-LPG from waste cooking oil, animal fats, and agricultural by-products, and is designed to be recharged up to 10 times. The complete abolition of paper tickets and the operation of digital-only tickets is also a feature of these Games.[Cortina, Italy Ⓟ unsplash/Betty Subrizi]The Expanding Scope of Inclusion at the OlympicsShining another light on a different dimension of sustainability at these Games, they are also the most gender-equal Winter Olympics in history. The female athlete ratio reached a record high of 47%, and the number of women’s events reached 50, surpassing the 46 of Beijing 2022 to achieve an all-time high. Including 12 mixed-gender events, the proportion of events in which women participate reaches 53.4% of the total. Four new women’s disciplines were added for the first time: freestyle skiing dual moguls, luge women’s doubles, ski jumping large hill women’s individual, and ski mountaineering sprint. It is also a first for the Olympics that 12 of the 16 detailed disciplines achieved perfect gender parity. In cross-country skiing, men and women will compete over the same distance for the first time.Changes are also continuing outside the competition venues. The proportion of women in the organizing committee’s senior leadership is 45%, and 55% of volunteer applicants are women. Athlete maternity leave support (€1,000 per month for up to 10 months), CONI Maternity Scholarships, and a ranking protection system during childbirth periods have also been newly introduced. The first Italian translation of the IOC’s gender portrayal guidelines has been published, promoting fair gender portrayal in Olympic communications as well. When compared to the fact that at the first Chamonix Winter Olympics in 1924, women could only participate in a single discipline — figure skating — the changes over the past 100 years hit home.The scope of inclusion has expanded beyond gender to encompass persons with disabilities and the local economy. The Olympic facilities invested approximately €20 million in accessibility improvements, enhancing hotel, restaurant, and tourism information accessibility for persons with disabilities. Impact programs to vitalize the local economy of the host areas were also planned. More than 400 local SMEs came together to support the hosting of these Olympics, and through this, job creation for local youth was also made possible.Persistent Problems Accompanying International EventsThat said, it is not without regrets. The total carbon emissions of this Winter Olympics are estimated at approximately 930,000 tons, and considering the roughly 410,000 tons of carbon emissions unavoidably generated by spectators and officials traveling by air, this is a difficult problem to improve as long as international events are held. There is also analysis that sponsorships from carbon-intensive industries such as Italy’s fossil fuel company Eni and airline ITA Airways indirectly generate induced carbon emissions.Meanwhile, the felling of approximately 20,000 m² of larch forest in the process of restoring the Cortina sliding track used during the 1956 Olympics drew criticism not only from Italian environmental groups but also from Greenpeace. The Italian government, which carried out the restoration work, sought to explain by presenting a plan to utilize the restored infrastructure for the local economy and to plant trees elsewhere in compensation for the felling, but could not stop the criticism of a greenwashing Olympics.In this way, this Winter Olympics became a stage testing whether large-scale international sporting events can be sustainable even in the climate crisis era. Achievements as impressive as the athletes’ passion and remaining homework have unfolded before our eyes. As we enjoy the remaining competitions, let us also look forward to the 2028 LA Summer Olympics and the 2030 French Alps Winter Olympics, wondering whether the global festival can someday be reborn as a festival for the planet. by Editor N
Can we trust corporate ESG management 100%? Through ESG reports, companies promise environmental protection, social responsibility, and transparent governance. A brand by a renowned domestic designer touted ‘ESG management’ and reprocessed carryover products, yet consumers did not accept this as a value provided by the brand. What these cases reveal is that the ESG that companies conceive of and the ESG that consumers experience are different.ESG as Proven by Companies: Reports Filled with Numbers and CertificationsThis past January, the security practices of the three major domestic telecommunications companies once again came under scrutiny. Telecom companies such as SK Telecom, KT, and LG U+ have been emphasizing ‘information security’ and ‘cybersecurity’ as key non-financial performance indicators in their annual ESG reports. SK Telecom touted its AI-based real-time monitoring and zero trust security architecture, while KT promoted annual information security investments on the scale of KRW 100 billion. LG U+ also received the highest grade in the government’s information security evaluation, and all three telecom companies received comprehensive A grades from the Korea ESG Standards Institute (KCGS).[SK Telecom certified dealership apology posted © Yonhap News]However, the reality was different. KT caused personal information leakage damage through poor femtocell (ultra-small base stations installed in homes or small business premises, directly connected to the mobile carrier’s core network) management, applying the same 10-year certificate to all devices. SK Telecom also experienced a massive USIM information leak and malware infection incident in April last year. LG U+ faced allegations that, after being notified of suspected personal information breaches, it reinstalled or destroyed some servers in an attempt to conceal the incident — behavior contrary to the ESG report’s promise to ‘build customer and social trust.’ [WOOYOUNGMI Black Palm Hoodie from the first half of 2025 season (top), Black Flower Patch Hoodie from the second half of 2025 season (bottom) © Shinsegae Mall and WOOYOUNGMI website captures, Hankyoreh]As the controversy grew, WOOYOUNGMI explained that it was “a process of fulfilling corporate social responsibility by reducing resource waste as part of ESG management.” They viewed the product as a new item that had undergone additional processing and redesign, and thus judged that a separate disclosure obligation was unnecessary. While they acknowledged the confusion caused to consumers and stated they would supplement their notification standards going forward, consumers reacted with shock at the fact that the brand had sold inventory products as new items. For Consumers, Action Matters More Than ClaimsWhat companies include in their ESG reports are mainly measurable quantitative indicators, such as board and ESG governance structures, environmental performance metrics, and whether policies have been established. Such indicators are good for external promotion.For consumers, however, ESG means what they ‘experience in daily life’: a company’s response and accountability when problems arise, and the safety of their personal information. It is not the dazzling figures in reports but the experience a company provides that is, in fact, ESG.[KT ESG Report © KT]In the telecom hacking incidents, the point at which consumers were angered was not ‘insufficient investment in security.’ It was the actual security systems that differed from what was stated in reports, and the opaque response. In the WOOYOUNGMI controversy as well, trust in the brand fell not so much because of the ‘use of inventory’ itself but because consumers had not been notified in advance.ESG reveals its true value not in ordinary times but in crisis situations. When a hacking incident occurs, whether the telecom company transparently discloses its response speed and routine management processes is what matters. For a brand, when there is a possibility of a product issue arising, how it explains it to consumers is the real measure of ESG management. What matters more than the fine phrases in reports is actual behavior.For ESG to become a company’s management philosophy, companies must make their ESG reports into ‘real promises.’ What matters more than the dazzling figures in reports is transparency. The evaluation criteria for reports must also be improved. Substantive items such as accident response, consumer protection, and transparency of communication must be more strongly reflected in evaluations.Aligning words with actions so that consumers do not doubt the ESG that companies speak of — this is the task for companies practicing ESG in 2026. by Editor N
Wetlands Day has come around again this year. Every February 2 is ‘World Wetlands Day.’ It was designated as a global commemorative day to widely promote the value and importance of wetlands, in celebration of the signing of the ‘Convention on Wetlands of International Importance Especially as Waterfowl Habitat,’ commonly known as the ‘Ramsar Convention,’ in Ramsar, Iran on February 2, 1971. Wetlands Disappearing Faster Than ForestsThe Ramsar Convention is the first intergovernmental convention in the environmental field, created with the purpose of conserving and wisely using internationally important wetlands. Although wetlands cover only 6% of the Earth’s land surface, they store 30% of the carbon produced on the planet and perform many roles such as flood control and water purification. They also play a key role in maintaining biodiversity. According to the ‘Global Wetland Outlook’ report published by the Ramsar Convention, such important wetlands are disappearing ‘more than three times faster than forests’ due to global development pressure. Already, more than 85% of the world’s wetlands have been lost from 1700 to recent times, and in particular, 35% of wetlands disappeared between 1970 and 2015. The rate of loss is accelerating.[Inland Wetland © Ilgan Today]Why Korea’s Wetlands Are SpecialSouth Korea is no exception. Korea is the 101st country to accede to the Ramsar Convention. Having joined the Ramsar Convention in 1997, the ‘Yongneup of Daeamsan Mountain,’ Korea’s only high moor, was designated as a Ramsar Wetland in the same year. Since then, South Korea has held 26 wetland sites to the present. In particular, the tidal flats of Seocheon, Gochang, Shinan, and Boseong-Suncheon were inscribed as UNESCO World Natural Heritage sites in July 2021, earning international recognition for their value. [Commemorating the 2021 UNESCO World Natural Heritage inscription of Seocheon, Gochang, Shinan, and Boseong-Suncheon tidal flats © Korea Heritage Service]Given that there are approximately 2,500 Ramsar Wetlands worldwide, 26 sites may not seem like much. However, the UNESCO World Heritage Committee assessed that “Korea’s tidal flats are among the most important and significant habitats globally for the conservation of the Earth’s biodiversity, and are particularly valuable as a stopover for endangered migratory birds.” Korea’s tidal flats are home to 2,169 species of marine flora and fauna, including endangered migratory birds, and 27 species of waterbirds listed on the IUCN Red List (the International Union for Conservation of Nature’s Red List of Threatened Species) such as the spoon-billed sandpiper, black-faced spoonbill, oriental stork, and white-naped crane inhabit them. Furthermore, South Korea serves as a critical mid-way stopover on the East Asian-Australasian Flyway, playing a vital role in the protection of migratory birds. It is part of an international wetland network connected to the Yellow Sea-Bohai Bay Migratory Bird Sanctuaries in China and the Wadden Sea of Germany, the Netherlands, and Denmark. The reason Korea’s wetlands draw international attention is that, despite being a country with top-tier biodiversity and strong pressures from urbanization and industrialization, it actively maintains an interest in wetland conservation. [Upo Wetland in Changnyeong-gun © Yonhap News]Activities to register wetlands with international bodies based on their value are also steadily expanding. Currently, a total of nine cities in South Korea have designated Ramsar Wetlands (Changnyeong, Inje, Jeju, Suncheon, Seogwipo, Gochang, Seocheon, Gimhae, Mungyeong). For Gwangju Metropolitan City, a plan was announced in December 2025 to submit a Ramsar Information Sheet (RIS, an official document that specifically describes the ecological value of the wetland and the need for its protection in accordance with international standards for Ramsar Wetland registration) to the Ministry of Climate and Environment for the designation of the Jangrok Wetland as a Ramsar site. The designation decision will be made in the first half of this year. In 2025, the Korea Heritage Service submitted an application for the extended inscription of ‘Getbol, Korean Tidal Flats (Phase II)’ as a World Heritage site to the UNESCO World Heritage Centre, concerning the tidal flats of Seosan in Chungcheongnam-do and Yeosu, Muan, and Goheung in Jeollanam-do.Although wetlands may seem removed from our daily lives, the benefits of clean water and a regulated climate that wetlands produce are being enjoyed by all of us at this very moment. From 2025, the Ramsar wetland registration of the Gwangju Jangrok Wetland is being pursued, and we look forward to the expanded inscription of the Yeosu, Muan, and Goheung tidal flats as World Natural Heritage sites. Let us also take an interest in wetland conservation policies. by Editor N