LG Chem Achieves 'Top Excellence' Grade in Win-Win Growth Index for 5 Consecutive Years

[Asia Economy Reporter Park So-yeon] LG Chem announced on the 8th that it received the highest grade, the Best grade, for five consecutive years in the 'Win-Win Growth Index' announced by the Win-Win Growth Committee.

The 'Win-Win Growth Index,' announced once a year by the Win-Win Growth Committee, is an indicator that classifies the level of win-win growth of domestic large corporations into five grades (Best, Excellent, Good, Average, Poor) based on surveys of small and medium-sized enterprises' perception of large corporations' win-win management and evaluations of fair trade agreement compliance.

In this year's 'Win-Win Growth Index 2019' evaluation, 35 out of 200 companies under review received the Best grade. LG Chem also maintained its status as a 'Best Honor Company,' a title given only to companies that have received the Best grade for three consecutive years.

LG Chem stated that the background of this Best evaluation is its active contribution to strengthening the competitiveness of partner companies through financial support and productivity improvement support.

First, LG Chem is providing financial support worth 250 billion KRW to ensure smooth fund operation for partner companies.

Since 2010, LG Chem has established a low-interest loan program called the 'Win-Win Fund' worth 62.9 billion KRW to support the operating funds of partner companies. Last year, it established a zero-interest loan program called the 'Innovation Growth Fund' worth 43.2 billion KRW to support key research and development (R&D) projects of partner companies.

Additionally, this year, together with the Korea Development Bank, LG Chem established a low-interest loan program called the 'Investment Support Fund' worth 150 billion KRW to focus on supporting facility investment costs, which can be a significant burden for partner companies.

Along with this, LG Chem supports productivity improvement consulting, smart factory construction support, and incidental costs necessary for exports to strengthen the self-reliance of partner companies. It is also continuously expanding recruitment incentives to alleviate labor cost burdens and secure excellent talent for partner companies.

Moreover, LG Chem is conducting an energy cooperation project for partner companies that find it difficult to improve energy efficiency due to a lack of professional personnel and funds. From 2012 to 2019, energy diagnoses were conducted for partner companies, discovering about 340 energy-saving items worth approximately 4.8 billion KRW.

Park Joon-sung, Executive Director of External Cooperation at LG Chem, said, "We are expanding support to strengthen the competitiveness of partner companies based on the establishment of a fair trade culture," adding, "Furthermore, we will focus more on activities that enhance sustainability together with partner companies in economic, social, and environmental aspects."

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