Improving Partners
According to data about the “2014 Shared Growth Index Evaluation” published by the Commission on Shared Growth on June 30, LG Household & Health Care received the top rating.
The shared growth index evaluations are the indicators of the level of shared growth published by the Commission of Shared Growth every year. By quantifying the levels of companies’ shared growth, the ratings are divided into four scales: top, excellent, good, and normal. The commission conducted the evaluations of 112 large and mid-sized firms this year. Nineteen companies received the top rating, 37 companies excellent, 42 companies good, and 14 companies normal.
Being recognized for carrying out various programs that allow its partners to improve competitiveness and achieve sustainable growth, LG Household & Health Care received the top rating. This is the first time to get the first-class rating.
The size of shared growth funds run by LG Household & Health Care has increased to 41 billion won (US$36.64 million) in the last five years from 7.5 billion won (US$6.7 million) in 2010. Through the funds, the company is currently running various programs in order to help partners improve competitiveness, including employees’ competency development, welfare package, financial support, overseas market opening, and technical support.
Also, LG Household & Health Care has helped partners to participate in international beauty exhibitions every year from 2013, and expanded its welfare programs to its partner companies’ employees from 2014.