Government introduces the ‘Cichelin Mark’ for 10 companies with outstanding social contribution

The government is promoting a system that selects 10 companies out of the top 1,000 domestic firms with outstanding social contribution activities every year and awards them a 'Cichelin Mark.' The Ministry of Trade, Industry and Energy reported a plan to revitalize corporate social contribution at the Cabinet meeting at the Blue House on the 21st. Under this system, the scope of the social value report survey previously conducted by the Korea Employers Federation will be expanded from the top 500 companies to the top 1,000 companies, and the government will jointly participate in the survey. The selection will be made through votes by experts and a citizen evaluation panel, and companies are planned to be given grades from 1 to 3 depending on the level of their activities. The government explained that the purpose is to encourage corporate social contribution and increase activities in areas desired by the public. However, the business community has also raised concerns that if the evaluation criteria are unclear, it could turn into competition for comparison among companies, and that the burden alone may grow.