Taeyoung Construction and BR Korea Excluded from This Year's Win-Win Growth Index Evaluation Targets

'The 78th Main Meeting of the Dongbanseongjang Committee'

The Commission for Shared Growth has confirmed the deferral of Taeyoung Construction and BR Korea from this year's Shared Growth Index evaluation targets. It also decided to discover region-specific shared growth models that build platforms among local governments, large corporations, and public institutions to revitalize shared growth in local areas.

Oh Young-kyo, Chairman of the Win-Win Growth Committee (second from the right), is speaking at the 78th Win-Win Growth Committee plenary session held on the morning of the 2nd at the 63 Convention Center in Yeouido, Seoul.
Photo by Da-yeon Yeom

On the morning of the 2nd, the Commission held the 78th plenary meeting at the 63 Convention Center in Yeouido, Seoul, where it reported, deliberated, and resolved on this year's work plan, progress in supporting local community shared growth projects, the status of suitable industries, and livelihood-appropriate industries for small business owners, including changes to the Shared Growth Index evaluation targets.

At the meeting, the Commission announced that it had confirmed the deferral of Taeyoung Construction and BR Korea from the Shared Growth Index evaluation target companies. The Commission explained that it is difficult to evaluate Taeyoung Construction, which is undergoing a workout due to management crisis, and BR Korea, which has not signed a fair trade agreement with its franchisees under the Fair Trade Commission. The Shared Growth Index is a quantified indicator that evaluates the level of shared growth to promote shared growth between large and small-medium enterprises, reducing the number of target companies from 244 last year to 242 this year.

Furthermore, the Commission revealed that it is reviewing a revamp of the Shared Growth Index evaluation. The plan is to evaluate and announce results by industry and company size instead of the current single-group evaluation method. It will be conducted according to sectors such as distribution and franchising, manufacturing, construction, food subcontracting, or by assets. Until now, the evaluation and announcement have been done using a single-group method.

In addition, the Commission plans to establish a platform this year to discover region-specific shared growth models. Through investigating shared growth activities by local governments, discovering and promoting best practices, it aims to raise interest among large corporations and public institutions and encourage voluntary participation. Alongside this, it will operate consultative bodies by appointing regional shared growth officers and collaborating with the Council of Provincial Governors to promote joint cooperative projects.

Regarding Environmental, Social, and Governance (ESG) support, the Commission will focus on 'Supply Chain ESG' to respond to domestic and international environmental changes. This year, it will provide education and capability assessments to partner companies of 35 large corporations and conduct specialized consulting on safety and environment. The Commission plans to publish a supply chain management report and distribute an ESG guide for small and medium enterprises. Additionally, it will operate the 'Win-Win Conflict Mediation System,' a mechanism to mediate conflicts between large and small-medium enterprises, on a regular basis to identify and actively resolve various conflicts across industries.

Oh Young-gyo, Chairman of the Commission for Shared Growth, stated, "As the term of the 6th Commission members approaches expiration, we will make every effort to form the 7th Commission members," adding, "We will strengthen the Commission's internal and external roles by listening to industry field voices and discussing various agendas." He also said, "The overall economic sentiment remains poor due to high interest rates and the recovery of business conditions concentrated in specific export industries such as IT and semiconductors," and emphasized, "We will carry out proactive and innovative projects this year to overcome the contraction of corporate activities."

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