Samsung became Best Shared Growth Company once again

Samsung Electronics officially announced on September 18, 2023, that it became the first domestic company to receive the highest rating for 12 consecutive years in the ‘2022 Shared Growth Index Evaluation ‘ selected by the Korea Partnership Growth Committee.

No doubt, there are several companies that also gained good marks, but the South Korean tech giant made a big difference and finally received the highest rating for 12 consecutive years since the mutual growth index evaluation was introduced in 2011.

The shared growth index is an index that evaluates and quantifies the level of shared growth for each company every year in order to promote shared growth between large and small businesses. It is divided into five grades: excellent, excellent, good, average, and inadequate.

Samsung Electronics is taking the lead in improving the payment culture of domestic companies by becoming the first domestic company to pay partner company transaction fees in cash in 2005.

Here’s the Samsung official statement

In 2017, we created a water support fund (KRW 500 billion) to support transaction costs between 1st and 2nd tier partners, and a water cost support fund (KRW 300 billion) exclusively for 3rd tier partners in 2018, to ensure that transaction amounts between partners will be paid in cash within 30 days. We provide interest-free loans so that you can In addition, not only raw material prices but also the minimum wage increase is reflected in the delivery price.

Since 2010, Samsung Electronics has created a win-win fund worth 1.4 trillion won and provides low-interest loans to partner companies for technology development and facility investment.

Samsung became Best Shared Growth Company once again (1)

In addition, since 2010, incentives worth 600 billion won have been paid to semiconductor partners to prevent safety accidents and improve quality.

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