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ESG Weekly Review | South Korea Risk Spotlights for March 22-28, 2024

ESG Weekly Review | South Korea Risk Spotlights for March 22-28, 2024

ESG Weekly Review | South Korea Risk Spotlights for March 22-28, 2024

ESG Weekly Review | South Korea Risk Spotlights for March 22-28, 2024

FairLabs Team

2024. 4. 1.

Weekly ESG Risk Spotlight (March 25~31)



Key takeaways


  1. Significant Increase in Business Ethics Risks: There's been a notable surge in risk exposure within the 'Business Ethics' sector, with its risk proportion jumping from 15.41% to 26.36% in just one week. This sharp increase is particularly pronounced in the 'Investment Banking & Brokerage' and 'Airlines' sectors.

  2. Persistent High Risks in Competitive Behavior and Labor Practices: Both 'Competitive Behavior' and 'Labor Practices' remain high-risk areas, with their risk proportions staying elevated for consecutive weeks. This highlights ongoing challenges in ensuring fair competition and upholding labor rights.

  3. Rising Concerns Across Multiple Areas: Additional areas of concern that have been identified include 'Customer Welfare', 'Product Quality & Safety', 'Selling Practices & Product Labeling', and 'Critical Incident Risk Management'. These areas, with risk percentages ranging from 3.68% to 4.4%, illustrate the diverse spectrum of risks businesses need to manage.


1. Business Ethics(26.36%)


2. Competitive Behavior(17.01%)


3. Labor Practices (13.39%)


4. Systemic Risk Management (6.42%)


The Importance of Comprehensive Risk Management: The varied risk landscape underscores the critical need for organizations to develop and implement comprehensive risk management strategies. Such strategies should span across multiple domains to effectively mitigate the array of potential risks they face.

Indications for Strategic Focus: The data suggests that businesses, especially those within the highlighted industries, may need to prioritize strengthening their ethical frameworks, enhancing product and service safety standards, and refining their approach to customer welfare and crisis management.


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Reach Us

FAIR LABS CO., LTD.

83 Uisadang-daero, Yeongdeungpo-gu, Seoul

team@fairlabs.io

Copyright 2024. All Rights Reserved.

Reach Us

FAIR LABS CO., LTD.

83 Uisadang-daero, Yeongdeungpo-gu, Seoul

team@fairlabs.io

Copyright 2024. All Rights Reserved.