An Economic Analysis of Corporate Social Responsibility in Korea

Daeheon Choi, Chune Young Chung and Jason Young
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Daeheon Choi: College of Business Administration, Kookmin University, 77 Jeongneung-ro, Seongbuk-gu, Seoul 02707, Korea
Chune Young Chung: School of Business Administration, College of Business and Economics, Chung-Ang University, 84 Heukseok-ro, Dongjak-gu, Seoul 06974, Korea
Jason Young: College of Business, Washington State University, Pullman, WA 99164, USA

Sustainability, 2019, vol. 11, issue 9, 1-18

Abstract: Around the globe, socially responsible activities are being integrated into regulations, and corporate social responsibility (CSR) is increasingly being recognized as a means of sustaining a business and improving its competitiveness. South Korea has made a significant effort to encourage CSR activities in order to increase its firms’ competitive advantage. This study evaluates the sustainable development activities of Korean firms, and empirically analyzes the positive impact of CSR on corporate performance (CP) in Korea over a period of four years. A comparison by industry reveals that CSR has a greater impact on CP in the manufacturing sector than it does in the nonmanufacturing and service sectors. Furthermore, the results for consumption goods are more positive than those for industrial goods, because the former are, in general, more affected by customer feedback. A case study of three Korean firms was used to examine CSR implementation in Korea, recent activities undertaken by Korean firms, and the integration of CSR concepts into firms’ strategies.

Keywords: corporate social responsibility; corporate performance; Korea (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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