Five common Gaps in ESG Readiness for Korean enterprises—And how to fix them
ESG Readiness is more than a report
As ESG regulations tighten in Korea and abroad, many companies are rushing to prepare. But readiness isn’t just about publishing a sustainability report—it’s about whether your company is equipped to manage ESG as a core part of risk, strategy, and performance. Through Speeki’s work with Korean firms, we’ve identified five common gaps—and practical steps to close them.
Gap #1: Fragmented ownership of ESG responsibilities
In many companies, ESG lives in one team (often compliance or PR), with limited cross-departmental involvement. But real ESG performance spans legal, HR, finance, supply chain, and operations.
Solution: Establish cross-functional governance with clear accountability, reporting lines to leadership, and involvement from business units—not just support functions.
Gap #2: Incomplete or unverified ESG data
Companies often rely on scattered spreadsheets, incomplete GHG calculations, or soft claims without supporting evidence. This becomes a major liability when preparing for assurance or investor scrutiny.
Solution: Centralise ESG data in a dedicated platform that supports structured reporting, audit trails, and integration with financial systems. Prepare now for future third-party assurance.
Gap #3: Misalignment with Global Standards
Many Korean firms are still referencing outdated or voluntary frameworks, and may not yet understand the implications of CSRD, ESRS, SEC, or KASB standards.
Solution: Conduct a structured gap analysis between your current ESG disclosures and global/local regulatory expectations. Prioritise alignment with standards such as ESRS, IFRS S1/S2 (via KASB), and Scope 3 guidance.
Gap #4: No materiality or risk prioritisation process
Without a clear materiality process, companies may be reporting on irrelevant data—or overlooking what matters to investors, customers, or regulators.
Solution: Implement a materiality assessment, ideally using double materiality where required (e.g. under CSRD), and revisit it regularly. Stakeholder engagement should be part of this process.
Gap #5: Limited internal capacity and awareness
Even when leadership is committed, ESG efforts often stall due to a lack of internal knowledge, training, and buy-in across teams.
Solution: Build capability through in-person workshops, e-learning, and executive briefings tailored to Korean teams. ESG literacy is foundational to compliance and cultural alignment.
These gaps are not unique to Korean companies—but addressing them early can set your business apart. ESG success starts with strong governance, clean data, global alignment, and empowered people. With the right tools and partners, these aren’t barriers—they’re opportunities to lead.
