Jungjinkong-Lotte Aluminum Lead Win-Win Growth Through Mutual Benefit System

Support for Excellent Partners' Mutual Aid Contributions and ESG Management Transition

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 2nd that it signed a 'Win-win Cooperation Type Tomorrow Filling Deduction Business Agreement' with Lotte Aluminium, a domestic comprehensive packaging material company.

The Win-win Cooperation Type Tomorrow Filling Deduction is a system in which the Ministry of SMEs and Startups and SBC support the deduction contributions of partner companies in cooperation with public institutions, private companies, and local governments. It is being implemented as a collaborative model that reduces the burden on small and medium-sized enterprises and realizes mutual growth with partner companies. Since 2015, a total of 61 institutions have participated.

Both parties decided to use this agreement as an opportunity to induce long-term retention of key personnel in excellent small and medium-sized venture companies in the chemical industry sector cooperating with Lotte Aluminium. They also plan to actively cooperate in supporting the strengthening of competitiveness of small and medium-sized venture companies through ESG (Environmental, Social, and Governance) management transition support.

Specifically, SBC will support the subscription to the deduction for key personnel of Lotte Aluminium partner companies and provide education and welfare services such as customized corporate education vouchers and group accident insurance subscriptions. In addition, policy projects for ESG management transition will be linked and supported for companies that wish. Lotte Aluminium will contribute a fund of 36 million KRW to support a corporate burden of 120,000 KRW per month for 25 employees of partner small and medium-sized enterprises for one year.

Jo Han-gyo, Head of the Human Resources Growth Division at SBC, said, "We hope this will be a stepping stone for Lotte Aluminium and partner companies to leap forward together through strengthening the competitiveness of partner small and medium-sized enterprises and long-term retention of excellent personnel," adding, "SBC will continue to discover various collaboration models for mutual growth between large and small and medium-sized enterprises."