Shinsegae to Receive Presidential Award for Win-Win Cooperation Between Large and Small-Medium Enterprises

[Asia Economy Reporter Seungjin Lee] Shinsegae has been selected as an excellent company dedicated to win-win cooperation between large corporations and small and medium-sized enterprises (SMEs).

On the 4th, Shinsegae Department Store and Shinsegae Duty Free received the Presidential Citation in the Large and Small Business Win-Win Cooperation Fund (organization) category and the Minister of SMEs and Startups Citation, respectively, at the 2020 Win-Win Growth Week ceremony hosted by the Ministry of SMEs and Startups and organized by the Win-Win Growth Committee and the Foundation for Large, Small, and Medium Business Cooperation.

The Win-Win Growth Week ceremony, held to promote co-growth between large corporations and SMEs and to enhance public understanding, is the largest event in the win-win growth sector involving both government and private sectors. It has been held annually since 2004, marking its 17th year this year.

At this year’s event, Shinsegae Department Store and Shinsegae Duty Free were recognized for their contributions to national economic development through exemplary management of the Large and Small Business Win-Win Cooperation Fund.

Shinsegae Department Store has taken the lead in win-win management through various activities. It has strived to enhance partner company satisfaction by supporting management capacity building and education through the ‘Win-Win Growth Academy,’ organizing pop-up and large-scale events to support sales channels for SMEs and small business owners, and providing labor cost support.

They also carried out relief projects for SMEs struggling due to the novel coronavirus disease (COVID-19). In addition to distributing relief supplies, they provided free disinfection services and supported COVID-19 testing fees. They did not spare efforts for win-win cooperation with local small business owners either. They supplied fertilizer raw materials to small-scale farms and helped produce eco-friendly promotional materials for small partner companies.

Shinsegae Duty Free was the first in the duty-free industry to sign an agreement with the Win-Win Growth Committee on the ‘Innovation-Driven Wage Gap Resolution.’ Since last year, they have been operating a win-win cooperation program worth a total of 6.2 billion KRW over three years to resolve wage gaps driven by innovation. Through this, they have led efforts to strengthen SME competitiveness and employment security, creating an environment for win-win growth.

Additionally, through support projects such as establishing pop-up stores, interior design, promotional items, and social network service (SNS) promotion using influencers, they have helped domestic small brands grow. They discovered competitive brands and supported their entry into overseas markets and sales channels through duty-free store listings.

Furthermore, by signing a performance-sharing contract with IT SMEs, they introduced the industry’s first AI voice search service and have supported local small business owners in various ways in collaboration with local governments.

A Shinsegae official stated, “Shinsegae Department Store and Shinsegae Duty Free will prepare for the post-COVID era by creating a positive industrial ecosystem where partner companies can grow together.”

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