A Comparative Study Between South Korea and EU on ESG Legal Regulations and Management in the Fashion industry

The purposes of this study are to compare Environment·Social·Governance(hence, ESG)-related regulations between the EU and South Korea affecting the domestic fashion industry, and to suggest a method for optimizing ESG management of domestic fashion companies by comparing the characteristics with ESG strategies of the EU and South Korean fashion companies. To achieve the purposes, a scoping review was implemented in terms of Arksey & O'Malley (2005)'s procedure. The findings are as follows: 1) The current Korea's sustainability disclosure guidelines are not systematically established compared to the EU. 2) Korea has not been legislated on sustainability disclosures. 3) There are some inadequate parts in the ESG sustainability management reports of domestic fashion companies. 4) ESG practice cases and risk response strategies of domestic fashion companies are being superficially dealt with. 5) ESG management strategies should be derived and integrated more systematically. 6) Objective ESG indicators are needed to introduce an integrated ESG management strategy. From the findings, it was suggested that Korea should quickly come up with effective and specific measures so that fashion companies can respond quickly to the ESG paradigm by preparing ESG-related policies and regulations.