LG Innotek Leads Efforts to Strengthen ESG Capabilities of Partners

LG Innotek_CEO Cheol-dong Jeong.

[Asia Economy Reporter Jin-ho Kim] LG Innotek announced on the 3rd that it has signed the '2022 Partner ESG Support Project Agreement' with the Win-Win Growth Committee (hereinafter referred to as Win-Win Committee).

The 'Partner ESG Support Project' has been promoted by the Win-Win Committee since 2021 to strengthen ESG response capabilities in the supply chain between large and small and medium-sized enterprises. Through this, large companies and the Win-Win Committee jointly provide comprehensive support such as ESG indicator development, education, capability diagnosis, and consulting for partners.

This agreement is the first in the electrical and electronics industry. The Win-Win Committee has previously signed ESG support project agreements with 11 companies in sectors such as chemicals and distribution. It is expected that partner ESG support will become more active in the electrical and electronics field through this agreement.

Through the agreement, LG Innotek and the Win-Win Committee will promote various ESG capability enhancement activities targeting about 200 partner companies of LG Innotek. Both parties plan to jointly develop ESG evaluation indicators specialized for partners in the electrical and electronics industry and provide them to the partners. Based on this, partners will accurately assess their current ESG level through professional institutions and undertake activities to improve it.

Partners with excellent evaluation results will be issued an 'ESG Excellent SME Certificate.' If partners submit the certificate to financial institutions such as Shinhan Bank and IBK Industrial Bank, they can receive loan support and preferential interest rates.

Additionally, LG Innotek and the Win-Win Committee will conduct ESG specialized education for partners. Among them, consulting services including on-site inspections will be provided to 20 companies.

Lee Yong-gi, Executive Director of Purchasing at LG Innotek, said, "Although the importance of ESG is recognized, small and medium-sized enterprises are struggling to establish ESG management systems due to budget and manpower shortages, so we decided to provide this support," and added, "We will continue to promote practical win-win activities for partners who will create customer experience innovation together."

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