This study examined the relationship between ESG awareness, adoption intention, and actual ESG ratings of Korean mid-sized enterprises (MEs), while analyzing the impact of ESG ratings on corporate performance. In response to recent domestic and international ESG regulations and disclosure requirements, it investigated whether there is a significant difference in ESG awareness and adoption intention between manufacturing and non-manufacturing companies, and also examined the correlation between ESG awareness, adoption intention, and actual ESG ratings. It further empirically analyzed the impact of ESG ratings on corporate performance. Based on data from the ME Status Survey from 2021 to 2023, ESG ratings from KCGS, and financial indicators of mid-sized listed enterprises, the results are as follows; first, manufacturing companies have a higher ESG awareness than non-manufacturing ones, but there is no difference in adoption intention. Second, the higher the ESG rating of an ME, the higher the level of internal ESG awareness and adoption intention. Finally, the analysis of the ESG ratings and corporate performance shows a positive relationship with Tobin's Q, a measure of corporate value, and no relationship with ROA, a measure of financial performance. This study is significant in that it empirically analyzes the relationship between survey-based status survey data and ESG ratings, and expands the scope of ESG research from large listed enterprises to MEs.

[Key Words] Mid-Sized Enterprises, ESG, CSR, Firm Value, Financial Performance