CJ CheilJedang Achieves 'Highest' Rating for 5 Consecutive Years in Food Industry's First Win-Win Growth Index Evaluation

[Asia Economy Reporter Lee Seon-ae] CJ CheilJedang has been selected as a ‘Win-Win Growth Best Honorary Company’ by receiving the highest grade of ‘Best’ for five consecutive years in the Win-Win Growth Index evaluation. CJ CheilJedang is the only company in the food industry to maintain the ‘Win-Win Growth Best Honorary Company’ status for more than five years.

The Win-Win Growth Committee held the 63rd Win-Win Growth Committee meeting on the morning of the 8th and announced the results of the ‘2019 Win-Win Growth Index’ evaluation. The Win-Win Growth Index evaluation is an indicator that quantifies the level of win-win growth of large companies for the purpose of promoting win-win growth between large and small and medium-sized enterprises. It is calculated by combining the Win-Win Growth Committee’s ‘Comprehensive Win-Win Growth Evaluation’ and the Fair Trade Commission’s ‘Fair Trade Agreement Implementation Evaluation.’

This year, 200 large and medium-sized companies were evaluated. CJ CheilJedang, along with 34 other companies, received the highest ‘Best’ rating. Companies that receive the ‘Best’ rating for more than three years are listed as Best Honorary Companies, and CJ CheilJedang has maintained the ‘Win-Win Growth Best Honorary Company’ status this time by achieving the ‘Best’ grade for five consecutive years since 2015.

CJ CheilJedang received high scores evenly in both the ‘Fair Trade Agreement Implementation Evaluation’ and the ‘Comprehensive Win-Win Growth Evaluation.’ It was positively evaluated for establishing a mutually rational fair trade order with partner companies based on the management philosophy of ‘Business for the Nation (事業報國),’ consensus among all executives and employees, and their capabilities. This is the result of efforts to build a fair trade order and operate various programs for win-win growth. Rather than simply supporting partner companies unconditionally, the company strived to provide practical help so that they could grow and become self-reliant.

In particular, CJ CheilJedang focused on building a partnership relationship with partner companies to establish a mutually rational fair trade order. To strengthen fair trade monitoring activities, the ‘Subcontract Transaction Internal Deliberation Committee’ was regularized to be held once a month. Under the supervision of the purchasing executive, related departments such as finance, legal affairs, CSV, and SCM participate to report on win-win growth and fair trade activities with partner companies, expanding preventive and follow-up inspection activities.

Various systems for win-win growth are also actively operated. Financial support is provided to ensure stable management activities of partner companies. Approximately 16 billion KRW was supported as interest-free loans through the ‘Direct Fund Support System,’ and the support scale will continue to expand. The support scale of the ‘Tomorrow Filling Deduction’ system, introduced as the first private company, has also been expanded every year, contributing to employment stability and wage gap reduction of partner companies.

Technical and development support is also provided in parallel. As an industry-leading company, CJ CheilJedang supports the overall manufacturing capabilities of partner companies through the transfer of accumulated food technology and know-how, recipe development, and on-site quality control support. After product launch, it provides a stable sales base through sales expansion and promotional support using its distribution network.

Especially this year, in response to the COVID-19 situation, the company expanded the scope and amount of support to alleviate the financial difficulties of partner companies. In addition, to help struggling farms, it is conducting the ‘Korea Seasonal Campaign,’ a win-win program for local specialty farms such as Gochang watermelons and Gimcheon grapes.

A CJ CheilJedang official said, “We are very honored to continuously maintain the status of ‘Win-Win Growth Best Honorary Company’ by receiving the ‘Best’ rating for five consecutive years for the first time in the food industry in the Win-Win Growth Index,” and added, “We will continue to play a leading role in spreading the culture of fair trade and win-win growth.”

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