LG Innotek Signs Win-Win Growth Agreement with Over 100 Partners

2023 Win-Win Growth Coexistence Day Held

LG Innotek announced on the 24th that it held the ‘2023 Win-Win Growth Day’ at its headquarters in LG Science Park, Magok, Seoul, and signed a win-win growth agreement with its partners. The event was attended by 50 people, including President Jeong Cheol-dong, LG Innotek executives, and representatives of partner companies.

‘Win-Win Growth Day’ is an event where LG Innotek and its partners strengthen mutual cooperation for fair trade and win-win growth. It has been held annually since 2010.

LG Innotek President Jeong Cheol-dong (left) and TKC Co., Ltd. CEO Park Yong-soon are holding the newly signed 'Win-Win Growth Agreement' and taking a commemorative photo.

In his welcoming speech, President Jeong said, “Various win-win growth activities are the most important foundation for creating differentiated customer value,” and added, “We will actively support our partners’ ESG management activities so that they can become sustainable companies.”

On the day, LG Innotek introduced its win-win growth programs and signed the ‘2023 Fair Trade and Win-Win Growth Agreement’ with about 100 partner companies. According to the agreement, LG Innotek will promote various win-win cooperation plans in the fields of finance, technology, management, and education for its partners.

Starting this year, LG Innotek will also operate a win-win growth fund worth 143 billion KRW, an increase of 40 billion KRW compared to the previous year. The increased amount is allocated to support partners’ ESG management activities. This expands the scope of support for partner companies. By using the win-win growth fund, partners can secure the necessary funds for management at lower interest rates than commercial banks.

President Jeong plans to build a strong partnership by visiting major partners this year starting with ‘Win-Win Growth Day’ to listen to management difficulties. In addition, a ‘Win-Win Growth Camp’ will be held within the year, where each business division will discuss specific and practical cooperation plans with related partners to maintain steady and substantial communication. Furthermore, in November, a ‘Win-Win Growth Academy’ will be held by inviting representatives of partner companies to provide lectures and discussions that can help with management activities such as win-win growth, leadership, and humanities.

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