Lotte Homeshopping Supports Win-Win Cooperation with 211.6 Billion KRW over 3 Years to Address Polarization

Signed 'Polarization Resolution Voluntary Agreement' with Partner SMEs
Supporting Entry by Discovering Excellent SMEs and Small Business Owners

Lotte Homeshopping has pledged to implement a home shopping win-win cooperation program worth 211.6 billion KRW over three years.

Photo by Lotte Homeshopping

The Win-Win Growth Committee and Lotte Homeshopping announced on the 7th that they have signed a "Polarization Resolution Voluntary Agreement" together with partner small and medium-sized enterprises (SMEs).

The Polarization Resolution Voluntary Agreement allows large corporations to autonomously select win-win cooperation models that fit their corporate characteristics to address the polarization issues between large and small-to-medium enterprises. Starting this year, the Win-Win Growth Committee has newly included in the agreement a commitment to encourage companies to actively participate in revitalizing regional win-win growth centered on 17 cities and provinces nationwide by introducing win-win cooperation programs based on local communities.

Through this agreement, Lotte Homeshopping plans to operate win-win cooperation programs tailored to the characteristics of the home shopping industry worth 211.6 billion KRW over the next three years starting this year. They will strive to comply with the three principles of proper payment in subcontracting, consignment, supply, and service transactions, and work to resolve polarization between large corporations and partner SMEs by supporting wages and welfare benefits, productivity improvement, domestic and overseas market development, and establishing a win-win growth fund for partner SMEs.

Additionally, Lotte Homeshopping will actively engage in regional win-win growth by discovering excellent local SMEs and small business owners and supporting their online and offline store entries to foster coexistence with local communities.

Partner SMEs are expected to strengthen innovation efforts such as productivity improvement, enhance product and service quality and price competitiveness, improve working conditions for employees, and expand new employment.

The Win-Win Growth Committee will actively cooperate in creating opportunities for technical and purchasing consultations to ensure smooth implementation of polarization resolution and win-win growth activities between Lotte Homeshopping and partner SMEs, as well as support the derivation and promotion of best practices.

Oh Young-gyo, Chairman of the Win-Win Growth Committee, stated, “We hope that Lotte Homeshopping and local communities will continue to actively discover win-win growth models for collaboration and make efforts to practice win-win growth.”

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