Win-Win Growth

LG’s Fair Trade Agreement Signing Ceremony was held in March at LG Twin Towers in Yeouido, Seoul.
LG’s Fair Trade Agreement Signing Ceremony was held in March at LG Twin Towers in Yeouido, Seoul.

 

LG Group announced in the morning on June 30 that its six affiliates have received the best grade on the Win-Win Growth Index released by the National Commission for Corporate Partnership (NCCP).

The affiliate companies are LG Electronics, LG Display, LG Chem, LG Household & Health Care, LG Uplus, and LG CNS.

The Win-Win Growth Index is to evaluate and measure the level of shared growth of large corporations in order to enhance mutual growth between large and small and medium businesses according to Article 20-2 of the Act to Promote the Win-win Cooperation between Large and Small Companies.

The index is made by combing the scores counted in large companies’ implementation of the shared growth, including the fidelity level of the fair trade agreement and the compliance with the subcontracting law, with the scores gained from the sensory level of win-win growth felt by partner companies, including support from large businesses for developing markets and new technologies. The scores are calculated on a fifty-fifty basis from the two angles.

LG Group has seen its six affiliates selected as the best companies in the evaluation targeting the 133 local large companies, with the largest number of best winners. Last year, LG’s five affiliates, such as LG Electronics, LG Display, LG Household & Health Care, LG Uplus and LG CNS were selected the best enterprises, too. This year, LG Innotek and LG Hausys have been added to the list.

Meanwhile, LG has come forward to strengthen the competitiveness of their partners by opening its 52,000 patents or so to its partner companies through the Chungbuk Creative Economy Innovation Center, which is the largest scale in the country, as well as by promoting the utilization of “Technology Escrow,” which is designed to prevent the technology leakage by keeping new technologies in the Corporate Partnership Foundation.

 

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