Operation of a Win-Win Cooperation Program Worth 247.3 Billion KRW Over Three Years
The Korea Commission for Corporate Partnership announced on December 15 that it has signed an "Agreement to Strengthen the Partner Company Ecosystem" with Lotte Chemical and its partner SME, NT Korea, to address the polarization between large corporations and small and medium-sized enterprises.
The core of this agreement is to operate a win-win cooperation program worth 247.3 billion KRW over the next three years, along with the three principles of proper payment.
Lotte Chemical is participating in this agreement for the third time, following its involvement in 2019 and 2022, continuing its commitment to mutual growth. In particular, the company was recognized for narrowing the wage gap and contributing to mutual growth through the implementation of last year's agreement, receiving the Mutual Growth Grand Prize. It also achieved the highest rating in the Mutual Growth Index for the past three years.
Through this agreement, Lotte Chemical will operate various welfare support programs for employees of partner SMEs, including core personnel wage support, incentives for new hires, and vacation subsidies. In addition, the company will promote a range of programs to strengthen competitiveness, such as joint technology development support, consulting support, startup incubation, and performance-sharing incentives to enhance the technological capabilities and productivity of partner SMEs. Furthermore, Lotte Chemical plans to continue operating credit guarantee support and the mutual growth loan fund for partner SMEs in need of business financing.
Dal Gon Lee, Chairman of the Korea Commission for Corporate Partnership, stated, "We highly appreciate Lotte Chemical's consistent commitment to the value of mutual growth, even amid structural changes such as business restructuring in the petrochemical industry." He added, "We hope this agreement will lead to a substantial strengthening of partner companies' competitiveness, contributing greatly to supply chain stability and the enhancement of industrial competitiveness."
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