Hanyang University Institute for Knowledge Services (Director Hwang Seung-june, Professor of the School of Business Administration at Hanyang University ERICA) announced that it signed a memorandum of understanding (MOU) on January 16 with Impact Society Co. Ltd. (CEO Yang Jae-yong,  Professor of the School of Interdisciplinary Industrial Studies and the Graduate School of Technology & Innovation Management at Hanyang University) for mutual cooperation in research, education, and consulting to train small and medium-sized enterprises ESG experts.

- Collaboration in nurturing ESG experts 

As ESG (Environmental, Social, and Governance) issues gain increasing significance, corporate social responsibility is receiving heightened attention. In particular, with the finalization of the IFRS S1 and S2 disclosure standards by the International Sustainability Standards Board (ISSB), the European Sustainability Reporting Standards (ESRS), and the U.S. Securities and Exchange Commission’s (SEC) disclosure standards regarding climate, ESG rose as a core component of corporate management strategies.

While large corporations have already adapted to ESG disclosures and sustainability reporting, SMEs continue to face challenges due to a lack of specialized personnel and financial resources. Yang Jae-yong, CEO of Impact Society Co. Ltd., explained, “The biggest obstacles for SMEs in implementing ESG management are employees’ lack of awareness, budget constraints for ESG initiatives, and a shortage of in-house specialists.” In fact, the Korea SMEs & Startups Institute analyzed that SMEs struggle with implementing ESG management due to insufficient internal expertise, the costs associated with consulting and system adoption, and difficulties in accessing ESG regulations and support information.

Through this agreement, both institutions aim to actively promote research, education, and consulting activities for nurturing ESG experts among SME employees in the Ansan region. Hanyang University Institute for Knowledge Service will provide its field-based consulting expert training system, which they accumulated over 15 years, while Impact Society Co. Ltd. will leverage its consulting experience in ESG and impact business to create synergy.

- Hanyang University Institute for Knowledge Services

Founded in 2009, the Hanyang University Institute for Knowledge Services conducts government-support and policy research for SMEs and mid-sized enterprises. The institute has developed expertise in five key areas, including global business consulting, IT convergence business consulting, service operation innovation consulting, public business consulting, and management analysis consulting. In particular, it was selected for the Humanities and Social Sciences Research Institute Support Program by the National Research Foundation of Korea in 2019, through which it has been conducting research, project development, and educational programs aimed at ensuring the sustainable growth and survival of SMEs and middle market enterprises.

- Impact Society Co. Ltd.

Impact Society Co. Ltd. is a lab-based startup founded by Professor Yang Jae-yong, a full-time faculty member at the School of Interdisciplinary Industrial Studies and the Graduate School of Technology & Innovation Management at Hanyang University. The company focuses on supporting businesses that create social impact by addressing social and environmental issues, and it provides AI-based performance measurement solutions. Last year, it conducted consulting projects for startups dedicated to solving social issues, and the resulting research paper won the Best Presentation Award from the Korean Production and Operations Management Society.

The agreement between the two institutions marks the beginning of comprehensive cooperation in nurturing ESG experts for SMEs and is expected to play a crucial role in supporting the sustainable growth of local businesses.