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SASAC, SK Group cooperate on research of SOEs’ social value

Updated: 2019-03-08

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) launched a joint research program with SK Group on the social value of state-owned enterprises (SOEs) in China and South Korea with SK Group in Beijing on Feb 25.

SASAC Secretary General Peng Huagang and Lee Hyung-hee, Captain of SK Group's Social Value Committee, attended and addressed the meeting.

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SASAC officials and representatives from South Korea's SK Group attend the meeting in Beijing on Feb 25. [Photo/sasac.gov.cn]

President Xi Jinping said that the most competitive and vigorous  enterprises are those that actively undertake social responsibility, pointing out the requirement for Chinese central SOEs to actively fulfill their social responsibilities and create social value, according to Peng.

Peng called on the research teams of both sides to put a high value on the theoretical and practical significance of the research and make joint efforts to advance the program and achieve substantial results in accordance with consensuses reached and the work plan approved by SASAC Chairman Xiao Yaqing and SK Group Chairman Chey Tae-won.

Lee said that SK Group attaches a great deal of importance to social value and has gained experience while confronting challenge, adding that it would conduct in-depth cooperation with SASAC and Chinese experts in this field to better serve the development of the two countries.

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Attendees at the meeting in Beijing on Feb 25 [Photo/sasac.gov.cn]

The research on the social value of SOEs in China and South Korea focuses on systematically sorting out the corporate social value theories in the two countries, forming an index system that measures the social value of SOEs, and determining and expressing the social value created by enterprises with a quantitative approach.

SASAC officials, representatives of Chinese central SOEs and researchers from the Chinese Academy of Social Sciences and representatives from South Korea side attended the meeting.

The research teams of both sides had a two-day academic exchange and site visit to some Chinese SOEs after the event.



(Executive editor: Hao Wen)

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