Dongbanwi-Coway, Efforts to Resolve Polarization Between Large and Small-Medium Enterprises

Promise of a 21.1 Billion KRW Partner Support Program Over 3 Years

The Win-Win Growth Committee, Coway, and partner company representative I-Ransys announced on the 18th that they signed a voluntary agreement to resolve polarization at I-Ransys headquarters in Cheongna, Incheon on the 15th.

The Win-Win Growth Committee, Coway, and partner company CEO I-Ransys signed a voluntary agreement to resolve polarization on the 15th at I-Ransys headquarters located in Cheongna, Incheon. From the left in the photo are Jangwon Seo, CEO of Coway; Dalgon Lee, Chairman of the Win-Win Growth Committee; and Jaegwi Shim, CEO of I-Ransys. Photo by the Win-Win Growth Committee

The voluntary agreement to resolve polarization is a pact in which large corporations autonomously select and implement win-win cooperation models that fit the characteristics of their industry to bridge the gap between large and small and medium-sized enterprises (SMEs).

This is Coway's second agreement since the first one in 2019. Through this agreement, Coway plans to accelerate win-win growth by adhering to the three payment principles (paying the right price, paying on time, and paying properly) in transactions such as subcontracting, consignment, supply, and services with partner companies over the next three years, and by supporting partner SMEs with a total of 21.1 billion KRW.

In addition, Coway will focus on strengthening the technological capabilities of partner companies. To provide opportunities to expand sales channels, Coway will hold a technology innovation exhibition (P.I.F) where partner SMEs can showcase and promote their technologies, and support new product development, technology localization, and joint technology development to help improve their technological capabilities.

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

The Win-Win Growth Committee will actively cooperate to create opportunities for technology and purchasing consultations so that the resolution of polarization and win-win growth activities of partner SMEs can be smoothly implemented, and will support the derivation and promotion of best practices.

Lee Dal-gon, Chairman of the Win-Win Growth Committee, said, "To ensure that this agreement leads to practical support for partner companies, the Committee will continue to cooperate with Coway and prepare various additional support measures to strengthen the capabilities of partner companies."

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