Analysis on Corporate Social Responsibility (CSR) of Multinational Corporations (MNC) in China

Around the early 21st century, because of the accidental bankruptcy generated by Enron and other global companies, CSR(Corporate Social Responsibility) is now attracting public attention. Multinational corporation are giving their great effort to survive in fierce competition. There is no exception to China, which market is globalized after entered WTO and try to evolve its economic structure from quantity-oriented growth to quality-oriented growth. Following the growth of economy, the protection of environment, the safety of products, and the public benefits, so-called social responsibility, are highly recommended with management of business in China. Influential mass communications and NGOs, regulated by the China Government, have already exercised periodical inspection and supervision on CSR of multinational companies. Even operated CSR systematically for a long time, however, corporations are short of fruitful result in China. It is because those companies still didn’t understand unique cultural and economic environment in China. Considering continuous economic expansion with growth of social consciousness and sustainable development developed by Mr. Hu’s leadership, CSR operated by companies is the key to success in China. Moreover, CSR is going to be the standard of evaluating corporation worth. Under the circumstances, if we are considering Chinese market as a driving force for the development of Korean economy and companies, it has a very important meaning to investigate the change of CSR environment and understand CSR activities executed by multinational companies in China.