South Korea's top 20 conglomerates flunk in social responsibility: survey
The Korea Herald/Asia News NetworkSouth Korean conglomerates such as Shinsegae and CJ that provide goods and services directly to retail consumers flunked their evaluations on corporate social responsibility performances.
March 8, 2013, 1:35 pm TWN
South Korea's Corporate Governance Service said Wednesday that CJ and its subsidiaries earned the lowest score of 5.6 points out of 100 among the top 20 conglomerates and units in running a fair and reliable operation for consumers.
Shinsegae, contrary to its close home rival Lotte, which received 53.68 points, earned around 20 points in the field. GS and Hyundai Heavy Industries earned a similar grade.
South Korea's top 20 conglomerates and subsidiaries earned an average of 40 points in social responsibility toward consumers under CSR.
The CGS evaluated the top 20 business groups and 127 listed subsidiaries on their CSR performances. There are a total of 999 subsidiaries between the top 20 conglomerates.
Doosan Group earned the highest score of 65.76 points in the CSR's consumer category, followed by Samsung's 58.52 points, and Lotte and SK's 52.02. They are the only four groups that got more than 50 points.