Co-prosperity Index 'Best Excellence', Samsung Electronics 9 Consecutive Years ... GS Retail and Others Newly Entered

On the morning of the 8th, the Win-Win Growth Committee held the 63rd Win-Win Growth Committee meeting at the Sheraton Seoul Palace Hotel in Gangnam-gu, Seoul, and announced the results of the 2019 Win-Win Growth Index evaluation. In the center of the photo is Kwon Ki-hong, Chairman of the Win-Win Committee. Photo by Win-Win Committee

[Asia Economy Reporter Moon Hyewon] Samsung Electronics has been selected for the highest grade in the Win-Win Growth Index for nine consecutive years. SK General Chemical and SK Telecom also received the highest grade for eight consecutive years, while The Face Shop, GS Retail, and Cheil Worldwide achieved the highest grade for the first time this year.

The Win-Win Growth Committee (Chairman Kwon Ki-hong) held the 63rd Win-Win Growth Committee meeting on the morning of the 8th at the Sheraton Seoul Palace Hotel in Gangnam-gu, Seoul, and announced the results of the 2019 Win-Win Growth Index evaluation. Among the 200 large companies evaluated (189 last year), a total of 35 companies received the highest grade. The companies with the highest grade include Kia Motors, Naver, Nongshim, Daelim Industrial, Daesang, The Face Shop, Samsung Display, Samsung C&T Corporation (Construction Division), Samsung Electronics, Samsung SDS, SEMES, Yuhan-Kimberly, Cheil Worldwide, POSCO, Pulmuone Foods, Hyundai Construction, Hyundai Mobis, Hyundai Engineering, Hyundai Motor Company, Hyundai Transys, CJ CheilJedang, GS Retail (GS25), KT, LG Display, LG Household & Health Care, LG Uplus, LG Innotek, LG Electronics, LG Chem, LG CNS, SK Construction, SK General Chemical, SK Holdings, SK Telecom, SK Hynix (in alphabetical order).

Among the 35 companies that received the highest grade, 20 companies have signed an agreement with the Win-Win Growth Committee since 2018 to promote the 'Wage Gap Resolution Movement.' The committee explained that these companies have contributed significantly to strengthening the technological competitiveness of partner companies and improving wages and welfare. Five companies (Kia Motors, Naver, Samsung Electronics, POSCO, Hyundai Motor Company) participating in the 'Caring Companies' program, a win-win cooperation support program between large corporations and small and medium enterprises and small business owners promoted by the Ministry of SMEs and Startups, were also selected as the highest grade.

Sixty-one companies received the excellent grade, 67 companies were rated good, 23 companies were average, and 7 companies were rated insufficient. However, 7 companies with deferred disclosure were excluded from the evaluation. Seven companies that did not participate in the Fair Trade Agreement were given an insufficient grade, and for seven companies under administrative disciplinary review by the Fair Trade Commission for violations of the Subcontracting Act, the confirmation of the agreement compliance evaluation results was postponed, and the disclosure of grades was deferred.

This evaluation was the first conducted after the Win-Win Growth Committee reorganized the system into a 'Comprehensive Win-Win Growth Evaluation' reflecting the introduction of a performance evaluation system for large companies by industry and the streamlining of the perception survey (adjustment of the number of questions). The committee explained that with the segmentation of evaluations by industries such as distribution and manufacturing, more accurate evaluations than in previous years became possible. Another feature is that the number of survey items evaluating the perception of small and medium partner companies regarding win-win growth activities between large and small-medium enterprises was compressed from about 50 to 25 core items.

A Win-Win Growth Committee official said, "The reorganization of the comprehensive evaluation system resolved the advantages and disadvantages of the industry-specific evaluation system, and as a result, the highest-rated companies, which were previously concentrated in manufacturing, construction, food, and information and communication industries, appeared for the first time in franchise and advertising industries," adding, "This not only improved the acceptance of the evaluation system but also indicated the spread of a win-win growth culture across various industries." The evaluation results, which were usually announced by the end of June each year, were postponed to this month due to difficulties in performing the procedures necessary for index calculation and disclosure caused by the spread of the novel coronavirus disease (COVID-19) earlier this year.

This content was produced with the assistance of AI translation services.