Nambu Power to Spend 75.3 Billion KRW Over 3 Years Supporting SMEs... "Bridging Polarization and Promoting Win-Win Cooperation"

Signed 'Polarization Resolution MOU' with the Win-Win Growth Committee
Contract Amount Adjustment Possible Amid Raw Material Price Surge

[Asia Economy Reporter Kim Bo-kyung] Korea Southern Power will operate a win-win cooperation program worth a total of 75.3 billion KRW over three years to resolve the polarization between large and small-to-medium enterprises.

The Win-Win Growth Committee and Korea Southern Power signed an "Autonomous Agreement to Resolve Polarization" with cooperating SMEs at the Win-Win Growth Committee in Jung-gu, Seoul on the 29th.

Through this agreement, Southern Power will launch a win-win cooperation support program worth a total of 75.3 billion KRW over three years starting this year to resolve polarization.

It plans to support cooperating SMEs in various areas such as new technology development, manufacturing process consulting, ESG (environment, social, governance) diagnosis and certification acquisition, welfare points, domestic and overseas market development, and social impact fund investment.

In addition, efforts will be made to comply with the three principles of proper payment for subcontracting, consignment, delivery, and service transactions. In particular, if it is recognized that adjustment of the contract amount is necessary due to natural disasters or a sharp rise in raw material prices, contract amount adjustment is possible.

Adjustments will be made upon the cooperating SME’s request if more than 90 days have passed since contract signing and the item or index adjustment rate has increased or decreased by 3% or more.

Cooperating SMEs must strive to △ strengthen innovation efforts such as R&D and productivity improvement △ improve product and service quality and price competitiveness △ improve employee working conditions and expand new employment. The Win-Win Growth Committee will cooperate to provide opportunities for technology and purchasing consultations and actively promote best practices.

Chairman Oh Young-gyo stated, "Through Korea Southern Power’s win-win growth activities, we expect the competitiveness of the national power industry to be strengthened and a sustainable win-win growth model to spread."

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