Dongbanwi Signs Agreement with Lotte Department Store to Participate in 'Partner Company ESG Support Project'

The Win-Win Growth Committee and Lotte Department Store signed an agreement on the 15th to participate in the '2024 Partner ESG Support Project.'

Lotte Department Store, participating in the project for the fourth consecutive year, plans to contribute to the win-win cooperation fund and provide a consulting program covering overall partner ESG (Environmental, Social, and Transparent Management) to offer practical benefits to its partners.

The Win-Win Growth Committee will select ESG indicators for partner SMEs according to the 'SME ESG Standard Guidelines' and focus on strengthening partners' ESG capabilities through ESG education, diagnosis, and on-site inspections (consulting).

Lotte Department Store operates various support systems for co-growth and win-win cooperation with small and medium-sized partners to present sustainable value.

They are operating a partner financial support program worth 200 billion KRW and introduced a win-win margin system in 2023 that lowers the sales commission rate (margin rate) by up to 5 percentage points annually, totaling 1.5 billion KRW, for excellent partners.

Last year, through Lotte Department Store's ESG campaign, they held the RE:EARTH campaign, which succeeded the industry's first environmental and energy management 'Green Lotte' campaign, seven times. They improved energy efficiency by considering business characteristics, such as installing building energy-saving facilities and introducing renewable energy, and received the Ministerial Award at the 2023 Korea Energy Awards.

Park Chi-young, Director of Operations at the Win-Win Growth Committee, said, "We deeply appreciate Lotte Department Store's participation in the partner ESG support project for four consecutive years," adding, "ESG management is no longer optional but essential, and it will have a positive impact on our economy and society as a whole for large companies like Lotte Department Store to take the lead and walk the path of coexistence with their partners."

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