Nearly 60 percent of accounting managers at Korean businesses support the need to adopt mandatory ESG disclosures in line with the global trend, according to a recent survey. But only 13 percent of the respondents said their companies have completed relevant preparations.
Local business leaders remain spirited as they plan to expand into new business areas in preparation for the future that will come after the current recession era, despite their overwhelming negative outlooks on the economic prospect for this year. According to a survey by EY Korea conducted on 407 high-ranking business leaders of local companies, six out of 10 respondents said they will either focus on exploring new business opportunities or strengthening current business portfolios during the next two years to achieve a higher level of corporate innovation.
While most corporate leaders and professionals agree that corporate integrity is becoming ever more important, they also say the pandemic has made it harder to conduct business with integrity.