Establishment of a cooperative system to support maritime ESG management 

KR has signed a Memorandum of Understanding (MOU) with Korea Asset Management Corporation (KAMCO) to foster Environmental, Social, and Governance (ESG) management in shipping companies.

The agreement aims to support the management of ESG factors, which are becoming increasingly important for shipping companies, such as eco-friendly ships and ESG requirements to meet the International Maritime Organization's (IMO) efforts to raise the bar on marine environmental regulations and create a carbon-neutral society by 2050.

With this agreement, both organizations will support shipping companies' ESG management by developing ESG diagnostic indicators and determine levels for shipping companies (listed/unlisted) and hosting ESG education programs and seminars.

KR Chairman & CEO LEE Hyungchul said, “It is meaningful to sign an agreement with KAMCO to foster maritime ESG management, one of the major topics in the shipping industry. We look forward to future cooperation.”

Image shows KR Chairman & CEO LEE Hyungchul (second from right) 

and KAMCO Chairman & CEO KWON Namju (third from right) at the MOU signing ceremony