Samsung Display and Four Other Samsung Affiliates to Invest 2 Trillion KRW Over 3 Years in Win-Win Cooperation with SMEs

[Asia Economy Reporter Kim Bo-kyung] Samsung Display and other Samsung affiliates will operate a win-win cooperation program worth 2 trillion KRW over three years for partner small and medium-sized enterprises (SMEs).

The Win-Win Growth Committee and five Samsung affiliates signed a voluntary agreement on the 13th to resolve polarization together with partner SMEs. The companies participating in the agreement are Samsung Display, Samsung C&T Corporation (Construction), Samsung C&T Corporation (Fashion), Samsung Engineering, and Samsung Electro-Mechanics.

These companies plan to operate a win-win cooperation program worth a total of 2.1743 trillion KRW over the next three years for partner SMEs and their employees to resolve the polarization between large and small-medium enterprises.

First, they promised to comply with the three principles of proper payment in subcontracting and consignment transactions. In particular, they plan to address the difficulties faced by partner SMEs due to rising raw material prices by operating a system for negotiating delivery price adjustments.

Additionally, starting this year and for three years, they will operate various win-win cooperation models to resolve polarization worth 2.1743 trillion KRW, including ▲wage and welfare support ▲support to enhance wage payment capability ▲financial support for management stability.

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