Pulmuone Foods Achieves 'Highest' Grade in Win-Win Growth Index Evaluation

Pulmuone Foods received the 'Highest' grade in the Win-Win Growth Index evaluation announced by the Win-Win Growth Committee.

[Asia Economy Reporter Choi Saeng-hye] Pulmuone was selected as an ‘Excellent’ company in the Win-Win Growth Index evaluation, which assesses the level of win-win growth with partner companies.

On the 10th, Pulmuone Foods announced that it received the ‘Excellent’ grade in the Win-Win Growth Index evaluation announced by the Win-Win Growth Committee on the 8th.

It is the first time in three years since Pulmuone Foods participated in the evaluation that it achieved the highest grade of ‘Excellent,’ and among the 35 companies that received the Excellent grade this year, only four are food companies including Pulmuone.

The Win-Win Growth Index is an indicator quantified into five grades (Excellent, Good, Fair, Average, Poor) by the Win-Win Growth Committee through relative evaluation every year of the level of win-win growth among 200 major domestic companies, aiming to promote win-win growth between large corporations and small and medium enterprises. It was first introduced in 2011 and has been evaluated nine times so far.

The supervising institution, the Win-Win Growth Committee, calculated the Win-Win Growth Index by combining the Committee’s ‘Perception Evaluation’ and the Fair Trade Commission’s ‘Fair Trade Agreement Implementation Evaluation.’

Since 2017, Pulmuone Foods has been subject to evaluation and achieved the Excellent grade in just three years. This result is interpreted as being due to the management’s commitment to win-win growth, building mutual cooperation and trust with partner companies, and consistently operating win-win programs and systems that can be shared together.

In this evaluation, Pulmuone Foods reportedly received high marks in comprehensive win-win growth evaluation categories such as research and development support, human resource development and exchange support, and transparent payment systems.

Pulmuone provides technical support to partner companies for productivity improvement and quality enhancement based on excellent product development, technology research, and marketing capabilities. Recently, thin-skinned dumplings and frozen pizzas, whose sales have been expanding, are examples of win-win cooperation and synergy created by sharing roles between large corporations and SMEs. In the case of thin-skinned dumplings, Pulmuone conducted close technical cooperation with partner companies producing the products to develop a differentiated dumpling appearance unique to Pulmuone.

Pulmuone helps stabilize management by improving the business environment of partner companies through a win-win payment system and financial support. The win-win payment system guarantees cash payment to partner companies on the payment date and allows them to cash payment amounts at low financial costs even before the payment date to secure competitiveness in the management environment. The system was introduced in 2017, and the cumulative amount of win-win payments, which was 44.7 billion KRW in 2017, exceeded 299.7 billion KRW as of April last year.

Pulmuone is also actively supporting the establishment of smart factories for partner companies. Last year, it supported pilot construction for two small and medium partner companies and is expanding this annually.

Corporate-level activities to spread a culture of win-win cooperation have also been continuously carried out. In 2018, Pulmuone conducted the ‘Win-Win Growth Academy,’ a specialized education program to strengthen cooperation networks between entrusted and entrusting companies and to spread the culture of win-win growth, and held the ‘Best Partners Day,’ a win-win growth meeting to share Pulmuone’s business direction and vision and reaffirm the will to achieve sustainable growth, for the 13th consecutive year last year.

In addition, Pulmuone is making efforts for win-win growth by carrying out various corporate activities that serve as a foundation for strengthening partner companies’ capabilities, such as hygiene and safety consulting and human rights management consulting, and actively promoted projects such as providing masks to partner companies struggling due to the COVID-19 pandemic.

Recognizing these efforts, Pulmuone has been selected for 14 consecutive years in the ‘2020 Korea’s Most Admired Companies’ All-Star 30 organized by the Korea Management Association Consulting (KMAC).

Lee Jeong-eon, Head of Pulmuone’s Win-Win Growth Promotion Office, said, “In an era where it is difficult to secure industrial competitiveness for sustainable growth by large corporations alone amid rapidly changing industrial environments, we will focus more on creating a virtuous cycle corporate ecosystem where competitive partner companies and large corporations grow together by supporting and nurturing competitive partner companies and establishing a foundation for win-win growth through cooperation.”