With increases of interests in corporate’s social responsibility, Korean Government presents new Korean-style evaluation items of ESG indicators emphasizing environment, social, and governance. New guideline recommends to evaluate various ESG activities of companies, such as information security and personal information protection issues included in social evaluation items. Many companies are making significant investments in activities to raise the ESG indicators. In order for corporate investment in ESG activities to be sustainable, it must also have a positive effect on corporate performance. This study analyzed the impact of companies' ESG investment activities on corporate performance in consideration of the social and economic environment that is gradually recovering after COVID_19.