The Social Value Institute, a nonprofit foundation established by SK Group, signed a memorandum of understanding Thursday with SK Telecom and Japan's SoftBank at SKT Tower in Seoul to strengthen cooperation on measuring the social value of AI and information and communications technology companies.
The agreement aims to advance collaboration on social value measurement in the AI and ICT sectors and jointly develop measurement methodologies suited to the AI era.
The three organizations plan to develop social value measurement methodologies that reflect the economic, environmental and social impacts emerging from the spread of AI technology. They will also work together to establish internationally applicable social value measurement standards through joint research, case studies, research reports and international forums.
The three organizations first signed a social value measurement MOU in 2024. At the time, the Social Value Institute supported the development of social value indicators and formulas tailored to SoftBank's business characteristics, while SK Telecom shared its accumulated experience measuring social value in the ICT industry through joint research. As a result, SoftBank measured 14 social value items across economic, environmental and social categories in monetary terms and disclosed the findings on its website.
The Social Value Institute plans to continue expanding cooperation with domestic and international companies and research institutions to pursue the international standardization of social value measurement methodologies. It also intends to build a foundation for objectively assessing and applying social value in future industries, including AI.
Na Seok-kwon, chief executive of the Social Value Institute, said two years of collaboration with SK Telecom and SoftBank had confirmed that social value can be measured objectively and practically applied to corporate decision-making and sustainable management. "This second MOU will serve as a new starting point for jointly advancing social value measurement methodologies suited to the AI era and establishing global standards, building on the achievements we have made so far," he said.
The Social Value Institute is a nonprofit foundation established by SK Group to foster a sustainable growth ecosystem centered on social value.
yeongdai@heraldcorp.com
