New book guides 'ESG-based safety management' amid mandatory disclosures

A new practical guide, 'Designing Safety Management with ESG,' has been published to help South Korean companies enhance workplace safety and comply with upcoming mandatory disclosure requirements.

Starting in August, companies with 500 or more employees, or those with annual construction project values exceeding 120 billion won, along with public institutions, will be required to publicly report on their industrial accident rates, safety management systems, investments in safety, and measures to prevent recurrence. By April 2027, all such entities must comply. This initiative aims to address South Korea's persistently high rate of industrial accidents, which has earned it the moniker 'Republic of Industrial Accidents' among OECD member nations.

“

The book started with the question of how the 'Safety and Health Disclosure System' based on the ESG system for the sustainable development of companies should be designed and operated to effectively reduce industrial accidents, the chronic ill of Korean society.

The book, authored by a collective of labor, academic, and ESG experts, serves as a theoretical and practical manual to ensure the 'Safety and Health Status Disclosure System' is effective. It emphasizes the integration of ESG (Environmental, Social, and Governance) principles into safety management, aligning with a national policy goal to establish a labor safety and health system that prevents work-related injuries and fatalities.

Contributors include experts from various research institutes and labor organizations, with recommendations from leaders of major labor unions. The lead author, Kang Choong-ho, director of ESG Korea Policy Research Institute, stated the book originated from the need to design and operate the safety disclosure system effectively within the ESG framework to reduce industrial accidents. He expressed hope that the book will be a valuable resource for companies, labor unions, and regulatory bodies involved in safety management and policy.

“

We expect it to be widely utilized as a useful guide not only for company and labor union officials but also for various stakeholders such as the Ministry of Employment and Labor and safety and health-related organizations that must design and supervise the system.