Lotte Duty Free Signs Agreement with the Win-Win Growth Committee: "Supporting Small and Medium Partner Companies"

Lotte Duty Free announced on the 17th that it has signed a business agreement with the Korea Commission for Corporate Partnership for the ‘2023 ESG Support Project for Partner Companies,’ launching efforts to assist small and medium-sized partner companies.

Through this agreement, Lotte Duty Free will contribute a total of 50 million KRW to the win-win cooperation fund and select customized ESG indicators for each company according to the Korea Commission for Corporate Partnership’s standard ESG guidelines for SMEs. Subsequently, it plans to comprehensively support ESG management practices through ESG education, diagnosis, and consulting. Lotte Duty Free conducted online education to ensure all interested partner companies could participate and plans to select a total of 10 companies for on-site education and consulting.

After the consulting is completed, companies with excellent compliance rates with ESG indicators will be issued a ‘Certificate of Outstanding ESG SME’ under the name of the Korea Commission for Corporate Partnership. Certified partner companies will receive incentives such as ▲preferential bank interest rates (Shinhan, KB Kookmin, IBK Industrial, BNK Gyeongnam), ▲export support services from KOTRA and KOICA, and ▲environmental and energy consulting and technical support from the Korea Institute of Energy Research.

Lotte Duty Free is carrying out various activities for mutual growth with small and medium-sized partners. Since April, it has been holding the ‘Open SME Consultation Day’ once a month for native brands wishing to enter Lotte Duty Free’s online and offline channels, and it also runs a win-win academy program for partner company executives and brand sales staff. Furthermore, it has established a 50 billion KRW win-win fund with IBK Industrial Bank to support loan interest rates and participates in the government’s ‘Price Linkage System for Suppliers’ program, exerting a positive influence.

Kim Joo-nam, CEO of Lotte Duty Free, said, “We are honored to participate in the Korea Commission for Corporate Partnership’s project for small and medium-sized partner companies,” and added, “Lotte Duty Free will continue to carry out various activities to strengthen the competitiveness of our partners and strive to establish an ESG management culture throughout the duty-free industry.”

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