Major domestic companies are diversifying their win

Major domestic companies are diversifying their win-win ways. Beyond funding to partners, it is focusing on building an ecosystem where companies and society grow together by expanding the scope of win-win growth to foster startups, manufacturing innovation, strengthening competitiveness of small business owners, and contributing to society. Win-win is becoming a key management strategy that determines future competitiveness beyond simple social contributions as the perception spreads that a company's sustainable growth depends on partner competitiveness, community development, and the formation of a healthy industrial ecosystem.

A typical example is the establishment of an ecosystem to increase future industrial competitiveness. Samsung Electronics is helping innovative companies grow by discovering promising startups such as artificial intelligence (AI), robots, and digital health through its startup development program "C Lab Outside," supporting business cooperation, technology verification (PoC), participation in global exhibitions, and business subsidies.

Last year, 17 out of 30 C Lab Outside startups conducted PoC with Samsung Electronics, and actual business cooperation is also expanding. Samsung Electronics is also supporting startups entering overseas markets through consulting with executives and employees and supporting participation in global exhibitions. Hanwha Aerospace has signed agreements with 39 suppliers and partner organizations for independence of aviation engine materials and parts and win-win cooperation. It is focusing its efforts on fostering an ecosystem of the domestic aviation engine industry by localizing core materials and components, joint R&D, test evaluation and certification, and supporting exports to suppliers.

Support for strengthening the competitiveness of partner companies is also becoming more advanced. Through the Smart Factory 3.0 project, Samsung Electronics has invested 30 billion won for three years to support manufacturing innovation of 600 small and medium-sized companies. It has supported the construction of smart factories of 3,600 companies nationwide over the past decade. In particular, it is supporting companies located in areas at risk of population extinction first and helping to strengthen the competitiveness of the local manufacturing industry.

LG Electronics is running a win-win cooperation fund worth 300 billion won while sharing manufacturing innovation know-how using AI and digital transformation (DX) with its partners and supporting benchmarking of overseas production companies. It is also a representative win-win activity to share smart process operation experiences and productivity innovation cases accumulated by overseas production subsidiaries with partners to support the improvement of manufacturing competitiveness.

LG Chem is strengthening its partner's self-sustainability by providing 206.1 billion won in financial support programs and support for technology and ESG (environmental, responsibility, and transparent management). It is also helping secure technological competitiveness by providing free analysis and test services of about 4,000 cases a year.

Hyosung contributed the largest ever 16 billion won of win-win cooperation fund this year, exceeding 40 billion won in cumulative contributions, and supports strengthening the productivity and safety management capabilities of its partners. Hyosung TNC is striving to secure global competitiveness of its partners through ESG education, support for eco-friendly certification, and joint participation in overseas exhibitions.

Win-win use of data and platforms is also expanding. SK Telecom, along with the Seoul Credit Guarantee Foundation and financial institutions, is building a customized support model for small business owners using floating population, commercial district, and financial data. 11th Street is expanding its online sales channels and supporting marketing for female companies. Companies are helping to strengthen the competitiveness of small and medium-sized enterprises and small business owners by utilizing their strengths such as data, platforms, and distribution networks beyond simple financial support.

Activities to create social value are also active. Kia is striving to expand its right to move for the socially underprivileged by operating a multicultural youth self-reliance support program and a project called "Green Travel" to support the movement of the disabled. Green Travel operated vehicles in eight regions across the country and supported the movement of more than 110,000 people with disabilities for 15 years. Activities linked to culture and arts programs are also expanding.

POSCO Group has been carrying out a "blood donation campaign of love" since 1998, spreading its life-sharing culture, with 65,000 people participating in blood donation as of June this year. Corporate social responsibility is also being practiced through long-term social contribution activities in which executives and partners participate together.

Patriotic veterans and social contribution activities are also continuing steadily. GS Group continues to practice the value of national veterans by volunteering at the Seoul National Cemetery, supporting the descendants of independence fighters, and honoring veterans. GS Caltex distributed the "Independence Calligraphy," which restored the handwriting of independence activists, for free, while GS Global and Parnas Hotel are also continuing volunteer work at the Memorial Park and events inviting veterans. HS Hyosung is introducing a new social contribution model that connects corporate technology into social values, such as supporting the improvement of the performance of Park Chan-jong, a member of the national disabled cycling team, by making customized prosthetic limbs using carbon fiber technology.

Win-win activities of companies are not only increasing the competitiveness of partners and strengthening the industrial ecosystem, but are also expanding to support for the local community and the socially underprivileged. Various win-win activities, including the creation of a future industrial ecosystem, strengthening the competitiveness of partners, and contributing to the community, are establishing themselves as management strategies that realize corporate sustainable growth and social value creation together.