SKT, KT, and LG Uplus are jointly establishing an 'ESG Fund' to promote ESG management in the ICT sector.

SKT, KT, and LG Uplus announced that they will establish an 'ESG fund' at the 'Third Telecom Companies ESG Fund Creation Agreement Ceremony' held at Heyground in Seongsu-dong on the 29th.

This is the first case in Korea where leading companies in a single field have joined forces to create an 'ESG fund.'

The 'ESG Fund' was created with a total investment of 40 billion won, with each of the three companies contributing 10 billion won. The entire amount will be used to invest in fostering promising startups with ESG technology.

Additionally, the three companies announced that they would establish a virtuous cycle nurturing system by linking ESG funds with the nurturing programs operated by each company.

SKT has been supporting startups in the ICT sector for over 10 years, and last year, it formed the 'ESG Korea Alliance' with domestic and foreign companies and institutions, which achieved results.

SKT will also participate in 'ESG Korea 2022&' this year.rsquo; announced that it will select 15 promising startups in the ESG field and begin a six-month startup accelerator program starting in May.

KT is discovering and fostering promising companies in the environmental and safety fields through the "Warm Technology Plus Challenge" contest as part of its socioeconomic enterprise development project.

In addition, KT has been operating 'Biz Collaboration' for the past six years, which discovers items that can be collaborated with excellent startups, matches them with business departments, and carries out joint commercialization.

LG Uplus focuses on solving social problems using ICT technology and has recently invested in education startups.

Since 2020, we have provided approximately 20,000 educational tablet PCs to underprivileged communities to support remote learning during the COVID-19 pandemic.

Meanwhile, the three companies announced that they will be targeting promising startups for sustainable growth rather than one-time investment, and will form an advisory committee with the CEOs of the three companies to discuss support measures.

The three companies stated, “We have decided to jointly create an ESG fund with the goal of actively supporting companies that practice ESG management in the ICT sector and growing together,” and added, “We hope that the ESG fund we have joined forces with will serve as a good foundation for creating a high quality of life and an industrial environment, and contribute to the development of the Republic of Korea.”