SM Entertainment Wins the Presidential Award of the Korea Chamber of Commerce & Industry'SM 3.0'Performance + Industry Leads
Dec 03, 2024
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The Corporate Innovation Awards, co-organized by the Ministry of Trade, Industry and Energy and the Korea Chamber of Commerce and Industry, are awarded to companies with excellent performance by discovering companies that actively practice management innovation and ESG (environmental, social, and governance) management. This year, SM won the 'President of the Korea Chamber of Commerce and Industry' award in recognition of the achievements of innovation and ESG management practices through the 'SM3.0' strategy, which includes advancing corporate governance and implementing optimal capital structure-based shareholder return policies.
As a result of promoting the 'SM3.0' strategy since 2023, SM has achieved management innovation by establishing an advanced corporate governance structure by separating the CEO and the chairman of the board of directors, increasing the number of albums and music releases and concerts by introducing △ multi-production center system, increasing investment in music publishing companies and acquiring labels, and enhancing shareholder value by burning △ dividends and treasury stocks.
In addition, efforts have been made to protect the environment by establishing an environmental management system, obtaining ISO14001 certification, using sustainable raw materials for MD and album production, and preserving biodiversity through the creation of wilderness forests. In addition, SM has been carrying out various activities for social contribution, such as establishing a safety and health management promotion system, disclosing the human rights management declaration, operating educational programs for a healthy organizational culture, and supporting music education for children and youth, and has established an advanced governance structure through the formation of a board of directors with independence, expertise, and diversity.
SM Co-CEO Jang Cheol-hyuk said, "We are pleased to be able to show the results of the new vision and growth strategy of SM 'SM3.0" and "We will continue to do our best to become a global entertainment company through continuous management innovation and strengthening of the ESG management system, and further contribute to the growth of the K-pop industry." he said.
정빛 기자 rightlight@sportschosun.com
rightlight@sportschosun.com
