Go to the Mian menu
Go to the Mian menu

i-KIET Issues & AnalysisKIET Korea Institute for Industrial Economics and Trade

  • home
  • Publications
  • i-KIET Issues & Analysis

The recognition of domestic businesses on the sustainable development and its policy tasks

Author Lim. Soyoung Date 2017.02.20 Issue No 8

As a growth paradigm to realize a sustainable society through coordination of the economic growth, social integration, and environment conservation, discussions are spurred at home and abroad on the sustainable development.


In order to address complex global issues and achieve the sustainable development, roles are becoming increasingly important for the businesses, for example, contributions to the finance and professionalism.


However, domestic businesses are lack of recognitions on SDGs, new global development goals, compared to global businesses.
● Also, domestic businesses presume goals concerning the economic growth and a job creation to be the most important among 17 SDGs, and they are lack of a capacity to encompass society in terms of the employment.


According to IDI results by WEF, Korea has been evaluated to be in a better development stage than when its growth was measured in quantity with GDP.
● IDI estimates development stages of nations comprehensively considering growth, inclusiveness and impartiality. Korea ranked 14th among 30 advanced economies.
● However, it seems that Korea's current and relatively good stage of inclusive development is difficult to be maintained.


It is necessary to adjust a policy direction with better understanding of sustainable and inclusive society that SDGs and IDI are highlighting.
● In order to secure finance to spur a development paradigm shift, it is necessary to enhance a recognition on it, and develop business structures that will induce the private investment.
● It is urgently needed to spare no efforts to understand the current status of age-dependency ratio along with labor productivity, relative poverty, dependency on carbon emission, which Korea has been evaluated to be lack of, among sustainable and inclusive development conditions. ?