Samsung Electronics Achieves 'Highest Grade' in Win-Win Growth Index for 9 Consecutive Years, First Among Domestic Companies

Evaluation of Fair Trade Establishment for Partner Companies

At Lestec, a mask manufacturing company located in Daejeon, Plant Manager Park Na-won (right) and Mentor Kwon Oh-chang from Samsung Electronics Smart Factory Support Center (left) are inspecting the mask body and ear loop connection status.

[Asia Economy Reporter Dongwoo Lee] Samsung Electronics announced on the 8th that it received the highest grade for nine consecutive years for the first time among domestic companies in the '2019 Win-Win Growth Index Evaluation' selected by the Win-Win Growth Committee.

The Win-Win Growth Index evaluation, which began in 2011, assesses about 200 large companies based on fair trade, win-win cooperation activities, and partner companies' perceptions, and announces the level of win-win growth. Samsung Electronics is the only company among the evaluated companies to have received the highest grade for nine consecutive years since 2011 and was also selected as an honorary best company.

Samsung Electronics has been promoting various win-win cooperation activities to spread a culture of win-win growth, such as establishing fair trade and improving overall competitiveness for partner companies. To this end, it provides customized support in various fields including funds, technology, and manpower.

Since 2005, Samsung Electronics has been the first domestic company to pay the full transaction amount in cash to small and medium-sized partner companies, and since 2017, it has established a 500 billion KRW fund to support payment of transaction amounts between first-tier and second-tier partner companies within 30 days, providing interest-free loans for two years.

To support the liquidity of partner companies, since 2010, Samsung Electronics has established a 1 trillion KRW Win-Win Fund to enable low-interest loans for technology development, facility investment funds, and more. To discover future growth engines for partner companies, it has held an 'Excellent Technology Presentation' since 2009 and has opened 27,000 patents free of charge since 2015.

To strengthen the capabilities of partner company employees, Samsung Electronics offers about 500 free online and offline training courses annually to enhance human resources. Since 2012, it has held the 'Samsung Partner Company Recruitment Festival' to help partner companies secure excellent talent and alleviate youth unemployment.

Samsung Electronics is expanding win-win cooperation activities to second- and third-tier partner companies and non-transacting companies.

Programs for first-tier partner companies such as the Win-Win Fund, employee training, and manufacturing innovation support are continuously being expanded to second-tier and lower partner companies. In 2018, a dedicated fund worth 700 billion KRW for third-tier partner companies (Win-Win Fund and payment support fund) was additionally established and is currently being operated.

Meanwhile, from 2018 to 2022, the Ministry of SMEs and Startups and Samsung Electronics have each established 10 billion KRW annually, totaling 100 billion KRW, to support smart factory construction projects for small and medium-sized enterprises. Samsung Electronics additionally supports 10 billion KRW for market development support and education program operation.

Especially this year, in response to the spread of COVID-19, Samsung Electronics is supporting national crisis recovery by building smart factories to increase production capacity for domestic mask manufacturers and diagnostic kit manufacturers.

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