A senior official of the Global Compact organization visited Korea this month to discuss the need for Korean companies to implement the Global Compact guidelines. In an article he states that “the increasing attention to corporate responsibility is a product of globalization”.
Companies in Korea and in other parts of Asia that are active in international business need to adapt to global business practices and adopt the international language of CSR. That’s true. I wonder tough if the approach of institutions like Global Compact striving for universal, standardized approaches and models works for other type of – more local – companies in Asia.
From a transparancy point of view it’s a good initiative but what about the cultural context? The reporting culture in India is very different from the US for example. Shouldn’t this be taken into account? The representative from Global Compact doesn’t mention anything about this. It’s as if that is not important. Sorry to say this but with this ‘everything-needs-to-be-the same-everywhere’ approach, the global compact organization will have a hard time getting the more local Korean companies on board. A missed opportunity in my opinion.
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