LG Electronics President Jo Joo-wan Expresses Gratitude to Partners... Supports with 30,000 Self-Diagnosis Kits
Delivered Over 30,000 COVID Self-Test Kits to 245 Partner Companies
President Jo Joo-wan: "Thankful to Partners Striving for Stable Parts Supply"
[Asia Economy Reporter Sunmi Park] LG Electronics is actively supporting its partners who are struggling due to COVID-19.
On the 9th, LG Electronics announced that it delivered over 30,000 COVID-19 self-diagnosis kits to 245 partner companies. This was to help ensure that partners do not face disruptions in production amid the rapid increase in COVID-19 cases.
LG Electronics also sent a letter signed by President Jo Joo-wan to the partners. In the letter, President Jo expressed gratitude to the partners for their efforts to maintain a stable supply of parts despite the difficult conditions caused by the spread of COVID-19, and hoped that the self-diagnosis kits would help the health management of the partners’ employees.
Additionally, LG Electronics provided interest-free funds worth 20 billion KRW on the 28th of last month to help partners proceed smoothly with facility investments and parts development during the COVID-19 situation. Considering the difficulties caused by COVID-19, the schedule was advanced by four months this year compared to last year.
The company also operates a 20 billion KRW interest-free fund support program on an ongoing basis to support partners’ investments in automation facilities this year. LG Electronics reviews partners’ fund utilization plans annually and provides interest-free loans. Up to last year, it has supported about 160 partners with approximately 400 billion KRW. In addition, LG Electronics operates a 200 billion KRW ‘Win-Win Cooperation Fund’ with Industrial Bank of Korea and Korea Development Bank, which offers low-interest loans to partners, and an ‘Overseas Co-Entry Partnership’ program that supports joint overseas expansion.
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Wang Cheol-min Executive Vice President, LG Electronics Purchasing·SCM Management Center emphasized, “We will continue to support our partners so that they can enhance their business competitiveness and grow together based on stable management even in the difficult situation caused by COVID-19.”
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