Lotte Department Store Wins Win-Win Growth Award... "Strengthening Communication with Partners"

Diversification of Support Including ESG Consulting

Seonmin Kim, Head of Product Planning at Lotte Department Store (right), is taking a commemorative photo at the '2022 Win-Win Growth Awards' ceremony. (Photo by Lotte Department Store)

[Asia Economy Reporter Lim Chun-han] Lotte Department Store announced on the 26th that it won the grand prize in the field of polarization resolution voluntary agreement at the ‘2022 Win-Win Growth Awards’ ceremony.

The Win-Win Growth Award is given to outstanding companies and organizations that have made efforts to spread the culture of win-win growth. Since signing a business agreement with the Win-Win Growth Committee in 2018, Lotte Department Store has supported its partner companies in various fields. To provide effective support to partners, it pursued strategic directions such as wage and welfare support, support to enhance wage payment capacity led by innovation, other types of wage payment capacity enhancement support, and management stability financial support.

Management stability financial support was a great help to small and medium-sized partner companies that faced difficulties during the COVID-19 period. Lotte Department Store operated a win-win growth fund in connection with excellent financial companies to provide low-interest loans and directly supported interest-free loans by preparing a 100 billion KRW scale win-win growth fund.

Next year, it plans to put more effort into communication activities with partner companies. The coffee truck event provided to excellent partner companies during holidays, which was held only in the metropolitan area this year, will be expanded to regional areas, and the number of companies eligible for ESG (Environmental, Social, and Governance) support projects will also increase. Lotte Department Store will also introduce the L-Tap program, which supports research and development expenses when launching collaborative products with small and medium-sized partner companies, and the rural-urban win-win program.

A Lotte Department Store official said, “Throughout this year, we implemented various win-win growth programs and focused on activities that provide practical help for the normalization of partner companies’ management during the endemic (periodic epidemic) era,” adding, “Next year, we will emphasize communication with partner companies and further expand the necessary benefits.”

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