Jihye Yoo, Advisor to the Korea Small and Medium Enterprises Association (KOSMA) and Managing Partner of Birdtree Management, gave a detailed PPT presentation for the participating Korean companies.
"India has very specific regulations in terms of CSR implementation. And it is not only mandatory, but also very unique and the first of its kind in the world. Today, I introduced the recent amendments to the CSR laws in the Companies Act, especially Section 135. Korean companies have great concerns about how to implement the new changes and what to do," Jeehye You told the Asian Community News (ACN) network.
Asked what type of questions the participants asked, Jihye Yoo said the biggest challenge was 'how' to implement it, whether it would end as a one-time event and whether to make it a sustainable program in the long term.
Other participants asked whether they would carry out CSR projects themselves or through NGOs. Hong Sung-chang, CEO of NHyup Bank, said, "It was a good opportunity to understand how different the meaning of CSR is in India."
