Yonhap News Agency, a key newswire service in South Korea, said Thursday it has signed a partnership with TFM Inc. over the development of environmental, social and governance (ESG) platforms.

Kim Hyeon-jun, executive director of the marketing and global business at Yonhap, and TFM Chief Executive Sean Lee attended the signing event at the Yonhap headquarters in Seoul.

Under the partnership, the two companies will comprehensively cooperate for more companies to adopt TFM’s ESG platform through education, consulting services, and content manufacturing for sustainable growth, Yonhap said in a statement.

They also plan to develop a “public program” to help Korean companies respond to stricter regulations, such as the corporate sustainability due diligence directive (CSDDD) adopted in the European Union and Germany, the statement said.

The EU due diligence act demands companies operating in Europe, including those that export to the region, to reduce environmental impacts or human rights violations in the who
le process of supply chains. Companies failing to come up with corrective measures will face penalties.

Source: Yonhap News Agency