Choi Jong-won (right), head of HUG's management strategy division, poses for a commemorative photo after the award ceremony. [HUG]
Choi Jong-won (right), head of HUG's management strategy division, poses for a commemorative photo after the award ceremony. [HUG]

The Korea Housing and Urban Guarantee Corporation (HUG) announced Wednesday that it received a minister's award from the Ministry of SMEs and Startups at the National Contribution Awards on Tuesday, in recognition of its ESG (environmental, social and governance) support activities for small and medium-sized enterprises.

HUG has pursued a range of support projects — including smart factory construction, overseas market development and its HUG Startup School program — to promote a culture of shared growth with small businesses. As a result, the corporation earned the top "excellent" rating in its evaluation group at the Ministry of SMEs and Startups' public institution co-growth assessment in April, establishing itself as a leading institution in shared growth.

This year, HUG declared an "ESG management inaugural year" alongside the inauguration of a new chief executive. The corporation has also worked to spread its model of ESG management through regional small business cooperation, hosting the first IT roundtable for Busan-based companies among public institutions that have relocated outside Seoul, and introducing a preliminary review system that gives priority contracts to local firms.

On top of that, HUG plans to strengthen regional business preferences and ties to its core operations within existing small business support projects, building a broader co-growth ecosystem. It also intends to contribute to quality job creation through its second HUG Startup School cohort, which will for the first time provide direct commercialization funding.

"This award is external recognition of the results of the ESG management and co-growth initiatives our corporation has pursued," HUG President Choi In-ho said. "Going forward, we will expand co-growth projects for small and medium-sized enterprises linked to our core business, while actively pursuing cooperative programs to support small businesses in Busan, where we are based, so that HUG can emerge as a leader in ESG management for regional development."

Meanwhile, HUG also took the grand prize at the third Korea Public ESG Management Awards earlier this year.


hss@heraldcorp.com