Only department store in South Korea to receive top rating

[Provided by Shinsegae Department Store]
[Provided by Shinsegae Department Store]

Shinsegae Department Store announced Thursday it had received an overall A+ rating for the second consecutive year in the Korea Institute of Corporate Governance and Sustainability's 2026 ESG assessment.

Shinsegae first appeared on the KCGS list of top ESG companies last year, earning an A+ rating. This year, it is the only department store in South Korea to receive an overall A+ rating.

The rating reflects a range of initiatives by the company, including strengthened environmental management covering climate change response and biodiversity conservation, as well as co-growth programs with small and midsize suppliers and community engagement activities.

In the environmental category, the company's efforts toward carbon neutrality and biodiversity conservation drew particular attention. Shinsegae Department Store signed an MOU with the South Jeolla Province-Gwangju integrated special city this year to advance environmental projects, including a program to protect the wintering habitat of the whooper swan — an endangered migratory bird — and a coastal ecosystem restoration project.

In the social category, the company received high marks for its support of small and midsize suppliers and community contributions. Shinsegae Department Store operates a co-prosperity fund to ease the financial burden on smaller suppliers. It also runs programs providing smart study rooms for local youth and offering meal support and emotional care for vulnerable groups.

The company also earned strong marks in the governance category for pursuing a transparent and sound governance structure, including efforts to build a disclosure framework aligned with the Korea Sustainability Standards Board on a consolidated basis.

"We will continue to fulfill our corporate social responsibilities across all areas — suppliers, local communities and the environment — and strengthen our co-prosperity management activities to grow together," a Shinsegae Department Store official said.


soho0902@heraldcorp.com