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New EU ESG Regulations and Impact on Korean Companies Doing Business in EU
The European Union has increasingly focused on Environmental, Social, and Governance (ESG) factors in business. Recent regulatory changes in the EU will impact not only EU-based companies but also businesses from third countries, including Korean companies. These regulations aim to promote transparency, sustainability, and ethical practices, extending beyond a company’s own operations to include its subsidiaries, business partners, and the entire value chain.
In response to these developments, ECCK’s esteemed member, Yulchon LLC, will host a seminar to provide practical insights into key regulations that may directly or indirectly affect Korean entities. Experts from various EU countries, including the Benelux region, Spain, Italy, and Poland, will offer a detailed overview of the EU’s ESG framework and the specific applications of these regulations in their respective jurisdictions.
A key topic of discussion will be the value chain framework outlined in EU regulations. The EU’s approach aims to assess the entire value chain, both upstream and downstream, with a particular emphasis on addressing human rights violations by third-country suppliers. Additionally, the seminar will cover the new sustainability reporting requirements introduced by the Directive on Corporate Sustainability Reporting (CSRD). The largest listed companies (with over 500 employees) will need to publish their first sustainability reports by 2025, based on their 2024 activities. By 2026, this requirement is expected to extend to around 50,000 companies across the EU, potentially including those owned by Korean entities.
This seminar is crucial for Korean companies to prepare for these new regulations and avoid potential liabilities for non-compliance.
New EU ESG Regulations and Impact on Korean Companies Doing Business in EU
The European Union has increasingly focused on Environmental, Social, and Governance (ESG) factors in business. Recent regulatory changes in the EU will impact not only EU-based companies but also businesses from third countries, including Korean companies. These regulations aim to promote transparency, sustainability, and ethical practices, extending beyond a company’s own operations to include its subsidiaries, business partners, and the entire value chain.
In response to these developments, ECCK’s esteemed member, Yulchon LLC, will host a seminar to provide practical insights into key regulations that may directly or indirectly affect Korean entities. Experts from various EU countries, including the Benelux region, Spain, Italy, and Poland, will offer a detailed overview of the EU’s ESG framework and the specific applications of these regulations in their respective jurisdictions.
A key topic of discussion will be the value chain framework outlined in EU regulations. The EU’s approach aims to assess the entire value chain, both upstream and downstream, with a particular emphasis on addressing human rights violations by third-country suppliers. Additionally, the seminar will cover the new sustainability reporting requirements introduced by the Directive on Corporate Sustainability Reporting (CSRD). The largest listed companies (with over 500 employees) will need to publish their first sustainability reports by 2025, based on their 2024 activities. By 2026, this requirement is expected to extend to around 50,000 companies across the EU, potentially including those owned by Korean entities.
This seminar is crucial for Korean companies to prepare for these new regulations and avoid potential liabilities for non-compliance.
Fore more details & Registration, click HERE