Coway Selected as "Excellent Company" in 2024 Shared Growth Index Evaluation

Recognized for Efforts in Shared Growth with Partners
and Building a Sustainable Supply Chain

Coway announced on November 3 that it received an "Excellent" rating in the "2024 Shared Growth Index Evaluation" released by the Korea Commission for Corporate Partnership. The Shared Growth Index is a system that comprehensively evaluates the level of fair trade and mutual cooperation between large corporations and small and medium-sized enterprises. Based on the evaluation results, companies are classified into five grades: ▲Best ▲Excellent ▲Good ▲Average ▲Insufficient.

Coway was selected as an "Excellent Company" in this evaluation, recognized for its achievements in operating various shared growth programs aimed at strengthening partners' competitiveness and supporting sustainable growth. Coway has set its shared growth vision as "Building a Sustainable Supply Chain Partnership Together" and operates the "Coway Top 10 Shared Growth Programs" to promote the growth and competitiveness of its partners.

This program consists of ▲support for manufacturing innovation technology and growth infrastructure ▲financial support for business stability ▲ESG consulting and capacity building ▲reward systems for outstanding partners, among others. It is Coway's representative shared growth model for ensuring the stable management and sustainable growth of its partners.

Since 2011, Coway has established a 20 billion won Shared Growth Fund to support partners' financial operations and has implemented a payment-linked system to alleviate the burden on partners caused by fluctuations in raw material prices. In addition, since signing the "Voluntary Agreement to Address Polarization" with the Korea Commission for Corporate Partnership in 2019, Coway has faithfully fulfilled the terms of the agreement and has been leading a culture of shared growth. In particular, Coway holds an annual "Shared Growth Day" to expand exchanges with partners and solidify cooperative relationships based on mutual trust.

Kim Ki-bae, Head of Production and Procurement at Coway, stated, "Coway considers the competitiveness of our partners to be our own and is building a collaborative system for shared growth. We will continue to expand various support programs based on close cooperation with our partners and do our utmost to achieve sustainable shared growth."

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