SK Group chairman Chey Tae-won called for global efforts to strengthen social corporate responsibility to achieve the sustainable growth of poor countries.

Chey made the call during a roundtable discussion at the meeting of business leaders on the sidelines of G20 Summit in Cannes, France, on Thursday.

Chey attracted support from participants when he proposed to global companies to set up “social enterprises’ and investment in them for the developing countries’ sustainable growth, according to SK officials.

“The most important task facing the world economy today is to create sustainable growth in developing countries,” he said. “Foreign companies can make a great contribution by implementing CSR in this process.”

However, he added, due to their low profitability, social enterprises often find it difficult to raise funds and thus have problems achieving sustainability.

“In conclusion, I would like to emphasize that corporate commitment, institutional and policy support from governments, and international institutions are the key drivers behind creating more successful social enterprises,” he said.

(cheesuk@heraldcorp.com)