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[S-BIC Series #3] “ESG Investment,” the survival strategy of the global economy in the era of the pandemic

2023-11-15

“2023 Seoul ESG Investment Conference” held on October 10-12

at “InterContinental Seoul COEX”…emphasized the aspect of “investment”

“Distinguished from conventional conferences which focused on certifications”

The 2023 Seoul ESG Investment Conference, held from October 10 to 12 at the InterContinental Seoul COEX, provided practical solutions and motivations for ESG from the perspective of “investment,” addressing the complex and challenging aspects of ESG. The conference covered concepts and management approaches of ESG, as well as actual investment cases and ESG management philosophy adopted by global companies.

※ESG, which stands for Environmental, Social, Governance, is emerging as an alternative for sustainable management in the international community. ESG investment involves companies attracting external investments based on their adherence to ESG principles.

The importance of ESG is increasing rapidly as companies will be required to provide evidence of their ESG practices to receive investments from external organizations or investment firms in the future. This conference, held with investment as the main keyword, is expected to actively encourage ESG implementation among SMEs and venture companies, serving as a cornerstone for the advancement and globalization of domestic businesses. An executive from a domestic accounting firm, who preferred to remain anonymous, commented, “Recently, the majority of ESG-related events have been focused on certification, but this event offered a unique opportunity to find out the criteria and perspectives of investors who have invested in companies practicing ESG”.

The participants and speakers engaged in networking and meetings after the session concluded, sharing information about the environments, policies, infrastructure, and pledged solidarity in ESG and investment.

The 2023 Seoul ESG Investment Conference was planned by the international conference planning company Top Planners, and supported by the S-BIC support project of the Seoul Tourism Organization. The British Chamber of Commerce in Korea, Hyesung Advisory, and Hyesung Accounting Corp. participated as co-hosting organizations.

[INTERVIEW] “Attract investment through ESG”, Ryulhee Kim. the CEO of Top Planners who planned the 2023 Seoul ESG Investment Conference

Highlighting the clarity of “investment” among ambiguous concepts

The sponsor even obtained the SEPC

“The planning might not have happened without S-BIC support”

Ryulhee Kim (image), the CEO of Top Planners, selected for the planning of the 2023 Seoul ESG Investment Conference under the S-BIC support project, focused on the concept of “investment” as a solution to directly connect the business to the ESG field characterized by vague concepts. She identified the driving force of corporate change within the concept of investment.

From October 10 to 12, the Seoul ESG Investment Conference was organized to present domestic and international trends in ESG on the first day and case studies on global companies on the second day. In particular, employees of Top Planners made efforts to enhance the completeness of the event by obtaining the Sustainable Event Professional Certification (SEPC) while preparing for the event.

On the opening day of the conference, we met with CEO Kim and asked about the preparation process for the 2023 Seoul ESG Investment Conference and inquired about the S-BIC support project.

- What is the 2023 ESG Investment Conference about?

“There are many conferences on the trending topic of ESG, but I think this particular event uniquely focused on investment. We planned the conference to present the latest data updated every year in the ESG field, and to attract actual investments from relevant companies on-site.”

- How is the event organized?

“The event is organized with lectures from experts, roundtable discussions, and one-on-one meeting programs. We emphasized the participation of SMEs and venture companies since they form the supply chain of large companies that have already established ESG management. We also facilitated connections between these companies and accounting firms or consulting companies that participated in the conference.”

- Did Top Planners, as the sponsor, also participate in ESG?

“While preparing for the event, some of our employees tried to obtain the Sustainable Event Professional Certification (SEPC) from EIC. They completed a 36-hour online course (2 hours per session, 18 sessions), which included lectures and assignments conducted entirely in English. All of the employees took the opportunity to learn English as part of the course (ESG Influencer Certification Course by MKYU X Yonsei University).”

- ESG management in the MICE field is not as easy as it sounds.

“The most important aspect is governance. It involves paying fair compensation on time and constantly seeking ways for improvement, while minimizing overtime for the personnel involved in events. For example, changing partners at will is considered a violation of the governance (G) practice. Particularly, in the MICE industry, there is a bad practice of contracting on a post-payment basis and using costs as an excuse to lower the total amount which violates the governance practice. For this event, we paid the venue fees, as well as accommodation and food and beverage expenses to the hotel in advance, with only additional amounts settled afterward.”

- The 2023 Seoul ESG Investment Conference was selected for the “S-BIC Support Project”.

“We could not have done it without S-BIC. The 5-year support from S-BIC, covering finance, consultation, and promotion, was definitely a boost of confidence. The consultation on a variety of topics from obtaining ESG certifications to recruiting support, legal and marketing assistance, and guidance on event direction, was incredibly helpful. With the STO’s continuous investment each year, we are confident that we could do better next time even if there were some losses happening in the event.”

- What collaborative projects are planned with S-BIC?

“The most critical task is to garner interest and encourage voluntary participation from many people in this conference, which certainly requires collaborating with S-BIC. Around 60 foreigners registered for the conference this year, and we plan to open up more opportunities for a greater number of participants to come to Seoul. We also plan to collaborate with overseas ESG-related exhibitions and conferences for participant exchange.”

- Anything you wish to add?

“Most PCOs in Korea hesitate due to entry barriers such as organizing agencies and support funds. We hope they can take the opportunity to demonstrate their capabilities and plans through S-BIC.”

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S-BIC Incubation Support Project

S-BIC stands for Seoul-Based International Conference which is a project dedicated to fostering Seoul-based international conference as the name suggests. Based on a long-term partnership with international conference planning agencies and hosting organizations located in Seoul, the Seoul MICE coexistence model successfully achieves the internationalization of domestic conferences, leading to the enhancement of the international conference industry ecosystem. The Seoul Tourism Organization selects the city’s unique global international conferences and hosting PCOs through S-BIC, and provides support in stages for five years through annual evaluations to accomplish gradual globalization.

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