The Seoul Housing and Urban Corporation (SH Corporation) announced that it signed a memorandum of understanding (MOU) on the 20th for the implementation of ESG management practices with the Gangnam District Office, the Korea Asset Management Corporation (KAMCO), the Korea Environment Corporation, and the Environment Foundation.
The five organizations plan to utilize idle state-owned land in Yulhyeon-dong, Gangnam District, to create green spaces and operate environmental education and citizen participation programs.
In particular, they will cultivate 'kenaf,' an environmentally friendly plant known for its exceptional carbon absorption and fine dust reduction capabilities, on an area of about 5,434 square meters and operate various citizen participation environmental education programs, including craft experiences utilizing it.
Kenaf is a representative eco-friendly crop with a carbon absorption capacity ten times greater than that of the oak tree and fine dust reduction effects reaching up to 66 times that of corn.
They will develop cooperative projects in various ways, including donation support, participation of volunteer personnel, public relations, and community-linked activities.
Starting from the end of this month, they plan to officially begin the project and hold a kenaf harvesting event and community return activities in October.
Hwang Sang-ha, president of SH Corporation, noted, "This agreement is a model case of ESG cooperation utilizing idle state-owned land, representing a meaningful starting point for the public and private sectors to create a sustainable city together," adding, "We will actively expand ESG projects that citizens can feel in the future."