SMEs and Distribution Industry Unite for Win-Win Cooperation to Overcome Economic Crisis

Korea Federation of Small and Medium Business Hosts the 5th Distribution Win-Win Conference
Awards Presented to Eight Companies and Organizations for Outstanding Win-Win Cooperation
Industry Leaders Pledge to Promote Voluntary Cooperation to Overcome Economic Crisis

The small and medium-sized business sector and the distribution industry have agreed to overcome the economic crisis through win-win cooperation. On July 11, the Korea Federation of Small and Medium Business announced that it co-hosted the 5th Distribution Win-Win Conference at KBIZ Hall together with the Korea Department Stores Association, the Korea Online Shopping Association, and the Korea Chain Stores Association.

Approximately 100 people attended the event, including Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business; Yoon Han-hong, Chairman of the National Assembly’s Political Affairs Committee; Han Ki-jung, Chairman of the Korea Fair Trade Commission; Oh Youngjoo, Minister of SMEs and Startups; Kwak Jae-wook, Director of the Win-Win Growth Committee; Jung Ji-young, Chairman of the Korea Department Stores Association; Cho Sunghyun, Chairman of the Korea Online Shopping Association; Han Chaeyang, Chairman of the Korea Chain Stores Association; as well as representatives of both large on- and offline distribution companies and small and medium-sized distribution business owners.

Participants at the 5th Distribution Win-Win Conference held on the 11th at KBIZ Hall of the Korea Federation of Small and Medium Business are taking a commemorative photo. Korea Federation of Small and Medium Business

Celebrating its fifth year under the slogan "With Win-Win Cooperation, Korea Runs Again!", the Distribution Win-Win Conference shares best practices and rewards outstanding companies in order to spread a culture of voluntary win-win cooperation in the distribution sector. At this year’s event, awards were presented to eight companies and organizations that achieved outstanding results in win-win cooperation in distribution. Galleria Department Store and Gmarket received the Minister of SMEs and Startups Award, AK Plaza and 11st received the Chairman of the Korea Fair Trade Commission Award. The Chairman of the National Assembly’s Political Affairs Committee Award went to the Korea Department Stores Association, while the Chairman of the National Assembly’s Trade, Industry, Energy, SMEs, and Startups Committee Award was given to Lotte On. The Chairman of the Win-Win Growth Committee Award was presented to Emart and Musinsa. During the event, Musinsa’s exemplary win-win cooperation case was also introduced. Musinsa has previously signed an MOU with the Korea Federation of Small and Medium Business and small-scale garment manufacturing companies such as sewing subcontractors.

In addition, participants agreed to promote various win-win efforts between large distribution companies and small business owners, centering on the Distribution Win-Win Council and the Small and Medium Distribution Win-Win Committee, in order to overcome the economic crisis through cooperation and to revitalize the people's livelihood economy. Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, stated, "In the current complex economic crisis, including prolonged sluggish domestic demand and declining population, win-win cooperation is now a necessity, not a choice," and added, "We will take the lead in spreading a culture of win-win cooperation in the distribution sector through the Distribution Win-Win Council, so that the creativity and innovation of small and medium-sized businesses can be combined with the infrastructure and know-how of large companies."

Oh Youngjoo, Minister of SMEs and Startups, said, "We will develop the win-win cooperation ecosystem beyond a simple partnership into a true platform for competitiveness," and added, "We will discover and institutionalize outstanding cases of win-win cooperation, and further refine the policy foundation so that the achievements created through cooperation can be fairly distributed to all participating companies."