Cmporate social responsibility or ESG is an international trend and is becoming standardized. Public instituticms in Korea have also been evolving into social contnbuticm, social value, and ESG activities, starting with ethical management in the early 2000s. The management evaluation system fur public instituticms is also expanding its evaluation content and weight to include govemmentreconmmded policies, social values, and indicators of social responsibility. Acoording to Werther and Chandler (2011 ), in order to implement corporate social responstbility (CSR) or ESG, companies or public instituticms must establish an integrated, mid-tenn to long-tenn management strategy. Currently, public eoterprises and quasi-govemmeotal organizations in Korea are being criticiz.ed fur eogaging in reactive and passive CSR or ESG activities in accordance with the management evaluation system of the Ministry of Strategy and Finance. Therefore, the public institution management evaluation manual stipulates that CSR or ESG should be promoted at the level of mid-tenn to long-term management strategy, but empirical analysis through the results of management evaluation shows that social responsibility activities rather than ESG management strategy affect management perfurmance. Orlitzky, Schmidt, and Rynes(2003) shows that it is tmre effective as a parameter for financial budget perfurmance than for public oommunicaticm, as shown in the research results. Therefore, looking at the pmpose of the new ''Public Entetprises and Sustainability'' chapter in the May 2024 OECD Public Entetprise Governance Guidelines, it is important for public eoterprises and quasi-govemmmtal organiWinns to improve short-tenn management efficiency and profitability, but it is also important to improve the e:fficieocy and profitability of public eole!prises in the mid-tenn to long-term. This meaos that social responsibility and ESG activities must be promoted at the strategic level of public instituticms for sustainability, and it can be empirically confinu:d that social resporunbility activities and ESG management have an impact on management performance such as financial budget performance.
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