Policy Studies on the Interconnectedness of the S and G in ESG Environments: Focusing on the Vulnerability of Korean Women to Labor

Environmental, social, and corporate governance are keywords in measuring the speed of investment in businesses and their impact on society. In the past, the international community only considered financial factors, but now compa nies are evaluated with consideration of nonfinancial factors. This study exam ined the relationship between women’s labor based on “E” and “G” in the ESG (Environmental, Social, and Corporate Governance) environment. Among the ESG issues that are becoming global issues, social and corporate governance are closely related to women’s employment, welfare, the elimination of gender discrimination, vulnerability protection, and women’s labor rate. Over the past three years since the outbreak of COVID-19, employment of vulnerable women, including women, people with disabilities, foreigners, and the elderly, has de creased, and the rate of layoffs has risen, indicating the vulnerability of women’s labor in Korean society. Measures to address this should start by improving social awareness, spreading awareness of equality and human rights, considering the socially disadvantaged, developing women’s competency, reorganizing legal and institutional structures, and developing corporate governance. In addition, the problem of increasing the women’s labor participation rate in Korean society is intractable unless the system of women’s welfare and care and the distribution of women in the workforce are strengthened. Through an analysis of K-ESG guidelines and based on an understanding of the interrelationship between the Equality Assessment Index and the Board of Directors Gender Diversity Indicator, the study would like to point out the problem of the vulnerability of women’s labor in Korea. In addition, to solve the problems of the current situation, this study analyzes the relevant laws in Korea and the vulnerability of female workers in Korean society. Ultimately, it is shown that companies are moving in the direction of a linkage of ESG and development, and directions for development are suggested.