The Highest Number of Deposits Among Domestic Large Corporations Over 3 Years
210 Cases Last Year, Over 1,600 Cases Supported in 10 Years
[Asia Economy Reporter Moon Chaeseok] LG Electronics has been found to be the most active among large corporations in utilizing the deposit system for entrusting partner companies' technologies to government agencies for safekeeping.
On the 7th, LG Electronics announced the status of its deposit support. It supported 210 cases last year. It stated that it has had the highest number of deposit cases among domestic large corporations over the past three years since 2020.
The deposit system is designed to reduce the risk of leakage of technology information from small and medium-sized partner companies, including technical data, management information, and intellectual property rights. By proving the fact of technology development through deposited materials, it can create opportunities for investment attraction.
Since 2013, LG Electronics has fully supported the deposit costs for partner companies. Over the past 10 years until last year, it has helped about 100 partner companies. The number of supported cases is about 1,600.
LG Electronics employees working with the next-generation logistics robot 'LG CLOi CarryBot.' The company signed a business agreement at the end of last year with AI logistics platform company Fasto for the supply of logistics robot solutions and system development collaboration. [Photo by LG Electronics]
LG Electronics has made a pre-inspection process mandatory during joint development of parts to protect partner companies' technologies.
It has also established five major tasks for mutual growth with 1st to 3rd tier partner companies: strengthening competitiveness, developing next-generation technologies, financial support, educational support, and infrastructure improvement. In particular, it is actively operating a win-win payment system for 1st and 2nd tier partner companies. This system helps convert payment for goods into cash before the payment date based on the credit of the large corporation.
Last year, LG Electronics opened an online recruitment center for partner companies. It also held excellent technology seminars and cybersecurity workshops.
Wang Cheolmin, Executive Vice President and Head of LG Electronics Global Operation Center, said, "We will foster a fair win-win culture by supporting the deposit of core technical materials."
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